RR Donnelley Announces Expected Third Quarter, 2004 Non-GAAP Earnings Per Diluted Share
September 08 2004 - 7:00AM
PR Newswire (US)
RR Donnelley Announces Expected Third Quarter, 2004 Non-GAAP
Earnings Per Diluted Share CHICAGO, Sept. 8 /PRNewswire-FirstCall/
-- R.R. Donnelley & Sons Company (NYSE:RRD) announced today
that it expects its third-quarter 2004 non-GAAP earnings per
diluted share to be $0.48 and reaffirmed its previously announced
full-year 2004 non-GAAP earnings per diluted share expectation of
$1.55. Non-GAAP earnings per diluted share exclude certain items
that are unrelated to the ongoing operations of the business. In
the third and fourth quarters of 2004, these items may include
restructuring, impairment and integration charges as well as
certain tax adjustments that are not currently determinable, but
may be significant. For that reason, the company is unable to
provide GAAP (Generally Accepted Accounting Principles) earnings
estimates at this time. The company believes that non-GAAP earnings
per diluted share is useful because that information is an
appropriate measure for evaluating the company's operating
performance. Internally, the company uses this non-GAAP information
as an indicator of business performance, and evaluates management's
effectiveness with specific reference to this indicator. This
measure should be considered in addition to, not a substitute for,
or superior to, measures of financial performance prepared in
accordance with GAAP. About RR Donnelley RR Donnelley (NYSE:RRD) is
the world's premier full-service global print provider and the
largest printing company in North America, serving customers in the
publishing, healthcare, advertising, retail, technology, financial
services, and many other industries. Founded 140 years ago, the
company provides solutions in commercial printing, forms and
labels, direct mail, financial printing, print fulfillment,
business communication outsourcing, logistics, online services,
digital photography, and content and database management. The
largest companies in the world and others rely on RR Donnelley's
scale, scope and insight through a comprehensive range of online
tools, variable printing services, and market-specific solutions.
For more information, visit the company's web site at
http://www.rrdonnelley.com/ . Use of Forward-Looking Statements
This news release contains "forward-looking statements" as defined
in the U.S. Private Securities Litigation Reform Act of 1995.
Readers are cautioned not to place undue reliance on these
forward-looking statements and any such forward-looking statements
are qualified in their entirety by reference to the following
cautionary statements. All forward-looking statements speak only as
of the date of this press release and are based on current
expectations and involve a number of assumptions, risks and
uncertainties that could cause the actual results to differ
materially from such forward-looking statements. Many of the
factors that could cause material differences in the expected
results of RR Donnelley relate to the integration of Moore Wallace
Incorporated, which was acquired by RR Donnelley on February 27,
2004. These factors include, without limitation, the following: the
development and execution of comprehensive plans for asset
rationalization, the ability to eliminate duplicative overhead
without excessive cost or adversely affecting the business, the
potential loss of customers and employees as a result of the
transaction, the ability to achieve procurement savings by
leveraging total spending across the organization, the success of
the organization in leveraging its comprehensive product offering
to the combined customer base as well as the ability of the
organization to complete the integration of the combined companies
without losing focus on the business. In addition, the ability of
the combined company to achieve the expected net sales, accretion
and synergy savings will also be affected by the effects of
competition (in particular the response to the transaction in the
marketplace), the effects of pricing of paper and other raw
materials and fuel price fluctuations and shortages of supply, the
rate of migration from paper-based forms to digital formats, the
impact of currency fluctuations in the countries in which RR
Donnelley operates, general economic and other factors beyond the
combined company's control, and other risks and uncertainties
described in RR Donnelley's periodic filings with the Securities
and Exchange Commission (SEC). Readers are strongly encouraged to
read the full cautionary statements contained in RR Donnelley's
filings with the SEC. RR Donnelley disclaims any obligation to
update or revise any forward-looking statements. DATASOURCE: R.R.
Donnelley & Sons Company CONTACT: Dan Leib, Vice President,
Investor Relations of R.R. Donnelley & Sons Company,
+1-312-326-7710, or Web site: http://www.rrdonnelley.com/
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