This compares with $52.6m on $2.4bn in revenues for the corresponding quarter in 2010. The figures included pre-tax charges and other costs of $51.2m, more than double the $17.5m in 2010.

The company was also confident of its debt position with only $159m of term debt maturing over the next three years, and $110m drawn on a $1.75bn committed revolving credit facility.

Overall, president and chief executive Thomas J Quinlan III said that the results were in line with expectations. "We overcame both the absence of last year's U.S. Census project and this year's incremental expenses associated with the acquisition of Bowne and begin the second quarter building positive momentum.

"The integration of Bowne is progressing well and we expect the acquisition to be accretive in 2011. We remain on track to deliver full-year revenue, margin and cash flow consistent with our previous guidance."

In an analyst conference call, Quinlan said the company had grown its business services revenues above 10% for the first time and that for its traditional print work, it had won a number of major new clients including catalogs for L.L. Bean and Bauer magazines.

He added that its relationship with KBA was already bearing fruit, with jointly developed digital inkjet technologies already in use at its statement printing, direct mail and book plants.

Later this year will also see the opening of a giant printing facility in Chicago, combining two existing RR Donnelley facilities to offer conventional and on-demand production enabling the company to produce work in the minimal amount of time.

The company also announced a $1bn share buy back scheme, with half of that being implemented in a single accelerated share repurchase (ASR), and the remainder through smaller ASRs or open market repurchases.

RR Donnelley shares closed at $19.44 at the end of trading, up from $19.05, on the day of the announcement.