CHICAGO, Sept. 8 -- R.R. Donnelley & Sons Company announced today that it expects its third-quarter 2004 non-GAAP earnings per diluted share to be $0.48 and reaffirmed its previously announced full-year 2004 non-GAAP earnings per diluted share expectation of $1.55. Non-GAAP earnings per diluted share exclude certain items that are unrelated to the ongoing operations of the business. In the third and fourth quarters of 2004, these items may include restructuring, impairment and integration charges as well as certain tax adjustments that are not currently determinable, but may be significant. For that reason, the company is unable to provide GAAP (Generally Accepted Accounting Principles) earnings estimates at this time.
The company believes that non-GAAP earnings per diluted share is useful because that information is an appropriate measure for evaluating the company's operating performance. Internally, the company uses this non-GAAP information as an indicator of business performance, and evaluates management's effectiveness with specific reference to this indicator. This measure should be considered in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.
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