RR Donnelley 3Q profit shrinks, cuts forecast
ASSOCIATED PRESS November 1, 2012 8:12AM
Updated: November 1, 2012 11:04PM
R.R. Donnelley & Sons Co.’s third-quarter net income dropped 55 percent as volumes and prices declined.
The Chicago-based printing company also cut its revenue forecast for the year and expects 2012 adjusted earnings to come in at the lower end of its prior outlook as “challenging industry dynamics” and a weak global economy pressure its business. It’s trying to control costs as revenue drops. The company spent $7.5 million in the most recent quarter on “employee termination costs.”
R.R. Donnelley reported Thursday that it earned $71.4 million, or 39 cents per share, compared with $158 million, or 83 cents per share, a year ago.