R.R. Donnelley & Sons Co. (RRD) posted fourth-quarter GAAP net loss attributable to common shareholders of $326.7 million, or $1.78 per share compared with last year's $27.0 million, or $0.13 per share profit. The company said the GAAP results include non-cash impairment charges of $488.5 million, or $2.25 per share, in the recent quarter and $61.5 million, or $0.29 per share in the year-ago period.
On a non-GAAP basis, earnings per share were $0.46, lower than $0.51 in the comparable period a year ago.
Net sales in the quarter were $2.72 billion versus $2.71 billion in the 2010 fourth quarter. Pro forma for acquisitions, net sales decreased 3.7%, due to volume declines in certain product offerings, price erosion and a 76 basis point unfavorable impact of changes in foreign exchange rates.
On average, 4 analysts polled by Thomson Reuters expected earnings per share of $0.44 on revenue of $2.78 billion for the quarter. Analysts' estimates typically exclude one-time items.
For 2012, the company projects non-GAAP earnings per share in the range of $1.84 - $1.92, assuming no additional shares repurchased under the authorization available to the company, whereas six analysts anticipate earnings of $1.74 per share for the full year 2012.
The non-GAAP effective tax rate for 2012 is expected to be in the range of 28% to 32%. Full-year GAAP net earnings per share may include restructuring and impairment charges, acquisition costs, the resolution of certain tax items and other items that are not currently determinable, but may be significant. For that reason, the company is unable to provide full-year GAAP net earnings estimates at this time.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.