Burton: Cenveo Plan Remains on Track
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STAMFORD, CT—In a note to shareholders, Cenveo Chairman and CEO Bob Burton stressed that, with recent volatility in financial markets and its share price, the company’s business plan remains on track.
“I remain comfortable with the financial targets for 2007 issued on our last earnings call,” he said of 2007 results, which won’t be known until late next month. Burton added that the company generated strong cash flow from operations and was able to pay down “a meaningful amount of debt during the fourth quarter.” He also reiterated his 2008 guidance of more than $300 million of adjusted EBITDA and $130-plus million in free cash flow.