R.R. Donnelley Reports $328M First Half Profit
Acquisitions, exchange rates spark second quarter growth.
Printer R.R. Donnelley today reported first half 2008 revenue of $5.92 billion, up slightly from $5.58 billion during the first half in 2007. Net earnings were $328.8 million, up about 8 percent from $304.9 million during the same period last year.
Revenue for the second quarter was $2.9 billion, up from $2.79 million during the same period in 2007. Net earnings for the quarter were $146.3 million, up from a net loss of $69.4 million during the same quarter last year.
According to president and CEO Thomas J. Quinlan III, Donnelley’s “preparation and diligence in continuously managing our cost structure paid off as operating margins expanded, driven by our U.S. Print and Related Services segment.”
Donnelley attributes financial increases during the second quarter to its acquisitions (Van Hoffmann in May 20007, Cardinal Brands in December 2007 and Pro Line Printing in March 2008) and favorable foreign exchange rates offset, in part, by continued price pressure and volume declines.