R.R. Donnelley & Sons Co. posted net earnings of 168.2 million for the third quarter, a decrease from $175.0 million in the prior year.
The printing giant reported net sales of $2.9 billion for the quarter ended Sept. 30, flat with last year.
The Chicago company attributed these results in part to volume declines and continued price pressure primarily due to the global economic slowdown, offset in part by acquisitions and favorable foreign exchange rates.
The firm reported gross margin 27% in the quarter, a decrease 27.1% last year.
Management also attributed this to volume and price declines, as well as the inclusion of acquired companies that overall carried a lower margin historically.
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“Given these unprecedented times, we are pleased with the earnings generated in the quarter, “said CEO Thomas J. Quinlan III, in a statement. “In a challenging revenue environment, we have generated nearly $700 million in cash from operations through the third quarter of 2008, validating our strategy and demonstrating the benefits of our diverse and flexible platform and broad product offering.”
