CHICAGO (AP) -- Shares of R.R. Donnelley soared Thursday after the printing company topped Wall Street expectations for the first quarter.
The Chicago company posted a profit attributable to common shareholders of $27.1 million, or 15 cents per share, down from $37.4 million, or 21 cents per share, in the same quarter of 2012.
Excluding one-time items, the company posted an adjusted profit of 37 cents per share, beating the average estimate of analysts surveyed by FactSet by 5 cents.
Revenue was about flat at $2.54 billion.
The quarter ncluded a rebate-related adjustment that boosted sales by $19.8 million. After adjusting for that, along with acquisitions, changes in foreign exchange rates and other items, the company said its organic sales fell about 1 percent as a result of lower prices and volumes at its U.S. print and related services business.
The company stuck to its previous revenue guidance of $10.1 billion to $10.3 billion. Analysts expect $10.07 billion.
In afternoon trading, shares of R.R. Donnelley & Sons Co. rose $1.87, or 17 percent, to $12.85 after peaking at $13.03 earlier in the day. Over the past 52 weeks, the company's shares have traded between $8.30 and $13.30.
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