R.R. Donnelley Reports Q2 2014 Results

RR Donnelley & Sons Company, Chicago, recently reported financial results for the second quarter of 2014. The company's second-quarter net sales of $2.9 billion grew 12.9 percent from the second quarter of 2013, and its organic net sales grew 0.8 percent from the second quarter of 2013. Second-quarter GAAP net earnings attributable to common shareholders of $64.7 million, or $0.32 per diluted share, compared to GAAP net earnings attributable to common shareholders in the second quarter of 2013 of $65.4 million, or $0.36 per diluted share.

Second-quarter non-GAAP net earnings attributable to common shareholders of $84.4 million, or $0.42 per diluted share, compared to non-GAAP net earnings attributable to common shareholders in the second quarter of 2013 of $82.5 million, or $0.45 per diluted share. Non-GAAP adjusted EBITDA in the quarter of $325.6 million increased by $21.5 million, or 7.1 percent, from the second quarter of 2013.

The company also reiterated its full-year 2014 guidance for net sales, non-GAAP adjusted EBITDA margin and free cash flow.

"The positive momentum we experienced late in the first quarter carried through into the second quarter, where we returned to positive year-over-year organic revenue growth, generated higher EBITDA and reduced our total debt in the quarter by approximately $70 million," said Thomas J. Quinlan III, RR Donnelley's president and CEO. "As we begin the second half of the year, our year-to-date performance, including the on-boarding and integration of our acquisitions that closed in the first quarter, keeps us on track to deliver our full-year guidance. Our expectation for free cash flow, in the range of $400 million to $500 million, allows us to continue to migrate toward our targeted gross leverage range of 2.25x to 2.75x on a long-term sustainable basis."

View the full report here or visit www.rrdonnelley.com for more information.