International Print Day 2018 is designed to help celebrate our mutual love of CMYK and help PRINT trend across social media. This year the theme is COLLABORATION! We are all in this together and when we work together, share ideas and create projects and products together, we are all better for it – and so are the projects and products. On October 17, 2018, share your collaborative print projects through social media using #IPD18 and #printwith. Two Sides shares in this love for collaboration by working with our members by providing a forum to help people gain a better understanding of why Print and Paper is a versatile and sustainable communications medium. Click read more below for additional detail.
Cenveo, Inc. (NYSE: CVO) reported financial results for the third quarter ended October 1, 2016. The reported results for all periods presented exclude the operating results of the Company’s packaging operating segment as well as its top-sheet lithographic print operation, as they have been classified in the Company’s condensed consolidated financial statements as
Third Quarter 2016 vs. Third Quarter 2015 Overview
- Net Sales of $406.0 million compared to $419.8 million.
- Net income of $9.4 million compared to a net loss of $3.2 million.
- Adjusted EBITDA of $38.9 million compared to $42.0 million.
- Income from continuing operations of $8.7 million, or $1.00 per diluted share, compared to a loss of $3.6 million, or $0.42 per diluted share.
- Cash flow from continuing operations of $7.8 million compared to $9.8 million.
“Our third quarter was generally in line with our expectations,” said Robert G. Burton, Sr., Chairman and CEO of Cenveo. “In our label segment, revenue was impacted by our decision to exit our coating operations, which accounted for the majority of the quarter-over-quarter revenue decline for that segment. In envelope, continued growth in our direct mail products helped mitigate softness in our wholesale and office products, which was driven by disruption and inventory rationalization in the office superstore channel. From a balance sheet perspective, we acquired through open market repurchases over half of our outstanding 7% convertible notes and commenced the process of redeeming half of our 11.5% unsecured notes due May 2017. We anticipate addressing the balance of our 2017 maturities in the first quarter of 2017.
“As we enter the fourth quarter, we will continue our focus on operational improvements and improved cash flow, which should significantly improve due to the reduction in our cash interest costs. Despite challenges in certain marketplaces, we believe our expectations for our direct mail envelope products and print related products continue to be a strong foundation for our organization, and our capital reinvestment plans this year will provide meaningful contributions to our future prospects.”