CGX, Cenveo Experience Sharp Dips in Profits
HOUSTON—Consolidated Graphics (CGX) saw a 21 percent year-over-year drop in its quarterly performance. It registered revenue of $225.9 million, with an operating income of $.9 million compared to $20 million for the same period in 2008. CGX said the revenue decline was primarily due to a year-over-year same store decline, along with lower election-related business.
Meanwhile, Stamford, CT-based Cenveo reported quarterly net sales of $397.6 million, down from $524.5 million for the same period last year. Cenveo recorded a net loss of $18.3 million, compared with a net gain of $2.7 million in 2008.