RR Donnelley 3rd-qtr sales misses Street; sees weak FY 2012
Nov 1 (Reuters) - Printing firm RR Donnelley & Sons Co reported third-quarter revenue that missed analysts' estimates, hurt by weak printing volumes, and it lowered its full-year forecast.
For the full-year 2012, the company lowered its revenue forecast to $10.1 billion to $10.2 billion from its earlier forecast of $10.4 billion to $10.5 billion.
It said it expected adjusted earnings to be at the lower end of its earlier guidance range of $1.84 to $1.92.
Analysts on average are expecting a profit of $1.84 per share on revenue of $10.37 billion, according to Thomson Reuters I/B/E/S.
For the second-quarter, net income fell to $71.4 million, or 39 cents per share, compared with $158 million, or 83 cents per share, a year earlier.
Excluding items, it earned 51 cents a share.
Revenue fell about 7 percent to $2.5 billion. Net sales for its U.S. Print and Related Services unit fell 6.4 percent to $1.9 billion.
Analysts on an average were expecting a profit of 44 cents per share on revenue of $2.58 billion.
RR Donnelley, which also operates as a securities filing agent, said nothing in its earnings statement about being blamed for filing a draft press release with Google Inc's third-quarter earnings hours ahead of schedule last month.
Shares of the Chicago, Illinois-based company closed at $10.02 on the Nasdaq on Wednesday.
(Reporting By Aurindom Mukherjee in Bangalore)