Printers report mixed quarterly results
It was a mixed message coming out of the results from two large commercial printers this week, with sales up and earnings down slightly.
RR Donnelley & Sons Co. reported net sales increased 23 percent during its second quarter for a total of $2.8 billion. The increase was due to, among things, its acquisition of Banta Corp., Perry Judd's and Von Hoffmann.
RR Donnelley, Chicago, also reported a second-quarter net loss from continuing operations of $69.4 million or 32 cents per diluted share compared to net earnings from continuing operations of $124.4 million or 57 cents per diluted share on net sales of $2.3 billion in the second quarter of 2006.
Consolidated Graphics Inc. reported that sales rose 8 percent during its first quarter ended June 30 for a total of $258.6 million, an 8 percent increase compare to last year.
The Houston-based commercial printer's first-quarter net income totaled $13.6 million, a 1 percent drop compared to last year. Diluted earnings per share were 96 cents compared to 97 cents in the first quarter of last year.