STAMFORD, CT—Cenveo Inc. released results for the three and six months ended June 29, 2013. The company generated net sales of $415.7 million for the three month segment, compared to $433.2 million for the same period last year. Cenveo generated net sales of $844.0 million for the six month measure, compared to $883.0 million for the same period last year.
The decrease in net sales for both periods was primarily due to lower sales volumes in its commercial printing operations, mainly resulting from production timing and lower customer demand, lower sales of office product envelopes due to the transition of a low margin account out of its operating platform, lower average selling price from our direct envelopes due to Cenveo's initiatives to gain market share, as well as pricing pressures primarily from a competitor now in bankruptcy protection. These decreases were offset in part by higher sales volume from direct envelopes due to Cenveo's initiatives to increase market share and increased direct mail demand.
Operating income was $19.2 million for the three month segment, compared to $28.6 million for the same period last year. The decrease in operating income was primarily due to lower sales volumes and higher input costs in ancillary raw material categories. Non-GAAP operating income was $24.9 million for the three months, compared to $35.9 million for the same period last year.
Operating income was $33.5 million for the six months ended June 29, compared to $42.7 million for the same period last year. The decrease in operating income was primarily due to lower sales volumes and higher input costs in ancillary raw material categories, offset in part by lower restructuring, impairment and other charges. Non-GAAP operating income was $45.6 million for the six-month measure, compared to $67.4 million for the same period last year.





