Cenveo Reaps 16.5 Percent Net Sales Increase
For the three months ended December 28, 2013, the company had a loss from continuing operations of $59.5 million, or $0.90 per share, compared to a loss of $57.4 million, or $0.90 per share for the same period last year. Non-GAAP income from continuing operations was $9.3 million, or $0.11 per share, for the three months ended December 28, 2013, as compared to $11.8 million, or $0.14 per share, for the same period last year. For the year ended December 28, 2013, the company had a loss from continuing operations of $85.5 million, or $1.32 per share, compared to $80.5 million, or $1.27 per share for the same period last year.
"We are very pleased with our fourth quarter performance and the continuation of the positive operational trends we experienced for the past couple of quarters," stated Robert G. Burton, Sr., chairman and CEO. "In the fourth quarter, we delivered 3.5 percent organic revenue growth from both our envelope and label and packaging segments. Direct mail continued to perform well as we saw strong growth in credit card mailings during the quarter. Recent leadership changes and selected capital investments are showing results in our print and label and packaging operations.
"The integration of National Envelope continues to progress well and remains on track with our expectations, as many cost actions have been implemented to date and we are relatively complete with the anticipated working capital build associated with the transaction."