R.R. Donnelley & Sons Co. reported third-quarter profits rose 6 percent, to $72.1 million, or 49 cents per share, from $67.9 million, or 45 cents per share, in the year-earlier period.
The Chicago-based printer said the most recent figures include the writedown of the purchase price of Saxe Inc. by Metromail, in which Donnelley owns a 38 percent stake. Excluding the writedown, the company had profits of $75 million, or 51 cents per share.
Revenues dropped 2 percent, to $1.56 billion from $1.59 billion.
For the nine months, Donnelley reported profits of $139.2 million, or 95 cents per share, a reversal from a net loss of $254.8 million, or $1.66 per share, in the 1996 period, which included a $560 million pretax restructuring charge and a $44 million pretax gain. Excluding those items, the company earned $154 million, or $1.01 per share, in the 1996 period.
Revenues dropped 3 percent, to $4.54 billion from $4.7 billion.
