Donnelley Financial Solutions reported a decrease in net sales and an increase in net earnings for the fourth quarter of 2019. The company's non-GAAP adjusted EBITDA margin improved due to cost savings initiatives and improved business mix. The company also announced a stock repurchase program and issued full-year 2020 guidance.
GAAP fully diluted net earnings per share increased by $0.23 from the prior year, and non-GAAP fully diluted earnings per share increased by $0.28 from the prior year.
Operating cash flow increased by 5.0% from the prior year, and free cash flow increased by 17.8% from the prior year.
SaaS net sales reached a record quarterly amount of $49.8 million, accounting for 26.2% of total net sales.
Non-GAAP adjusted EBITDA margin improved by 400 basis points from the prior year, driven by cost controls and an improved business mix.
The company provided full-year guidance for 2020.
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