R.R. Donnelley & Sons Co. posted a net loss of $686.9 million for the fourth quarter, compared to a net loss of $292.9 million in the prior year.
The printing giant reported net sales of $2.8 billion for the quarter ended Dec.31, a decrease from net sales of $3.1 billion the last year.
The firm reported that net sales for its U.S. print and related services segment in the quarter decreased 4.9% to $2.2 billion in the prior year.
Management attributed this to volume declines and price pressure across most product lines, driven primarily by economic conditions. Partially offsetting these declines were sales from the acquisitions of Cardinal Brands and Pro Line Printing.
“Volatility in the global economy has resulted in significant declines in demand across nearly all of the diverse industries that we serve," said Thomas J. Quinlan III, CEO, in a statement.
