Outlook - 2012 Full-Year Guidance
For the full year of 2012, the company expects revenue of approximately $10.1 billion to $10.2 billion, which reflects an anticipated unfavorable impact of changes in foreign exchange rates and pass-through paper sales of approximately $170 million. The company expects non-GAAP operating margin in the range of 7.2 percent to 7.3 percent and non-GAAP net earnings per diluted share to be at the lower end of its previous guidance range of $1.84 to $1.92. This guidance assumes no additional shares are repurchased pursuant to the current authorization from the company's board of directors. The non-GAAP effective tax rate for 2012 is expected to be in the range of 30 percent to 33 percent. GAAP net earnings per diluted share in 2012 may include restructuring and impairment charges, acquisition-related expenses, 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. The company also expects to deliver 2012 operating cash flow less capital expenditures of approximately $450 million. In addition, the guidance above assumes that Hurricane Sandy will not have a significant impact on demand for our products and services or on the company's operating results in the fourth quarter.
- People:
- Thomas J. Quinlan III
- Places:
- Chicago