RR Donnelley Reports Q4 Net Loss and Full-Year Results

Non-GAAP adjusted EBITDA was $292.2 million in the fourth quarter of 2012 compared to $296.7 million in the fourth quarter of 2011. Adjusted EBITDA margin in the fourth quarter of 2012 was 11.0 percent, 10 basis points higher than in the fourth quarter of 2011 as lower pension expense and productivity improvements more than offset continued pricing pressure and unfavorable pricing on by-products. Non-GAAP operating income increased $8.7 million to $175.5 million in the fourth quarter of 2012, and non-GAAP operating margin improved 50 basis points, from 6.1 percent in the fourth quarter of 2011 to 6.6 percent in the fourth quarter of 2012 due to the improved adjusted EBITDA margin and lower depreciation and amortization.