The printer recorded earnings of US$13.9 million (A$18.4m) in the first three months of the year, compared to US$182m in the first quarter of 2008. Overall sales amounted to US$2.5 billion (A$3.3bn) – down from US$3bn in the previous year.

RR Donnelley president and chief executive Thomas Quinlan said the company had experienced “significantly reduced demand in most of the end markets” that it serves.

In the US, the company experienced a 14.9% fall in sales but was hit with a US$32.7m restructuring and impairment charges as it realigned its cost base to meet the falling demand.

Sales across its international operations fell by 27.5% to US$548.2m (A$725.9m), exacerbated by fluctuations in the currency exchange rates.

Quinlan said that the company would now focus on maximising cash flow and liquidity.

Read the original article at www.printweek.com.

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.  

Sign up to the Sprinter newsletter