R.R. Donnelley Reports $687M Quarterly Loss, Signs $500M Agreement
Printer takes on Publishing Group of America business in multi-year deal.
After reporting a $191.7 million net loss for 2008, printer R.R. Donnelley announced that it had been awarded a $500 million multi-year agreement from newspaper magazines publisher the Publishing Group of America.
Under terms of the agreement, Donnelley will provide printing, logistics and premedia services for PGA’s magazines, including American Profile, Relish and Spry. The magazines are distributed within roughly 1,100 weekly and smaller market newspapers.
Donnelley Wednesday reported a $191.7 million year-end net loss, down considerably from a $48.4 million net loss in 2007. The company reported a $686.9 million net loss for the fourth quarter.
Year-end revenue was $11.58 billion, flat over sales in 2007. Donnelley’s results included $1.18 billion in restructuring and impairment fees, the company said.