Cenveo Posts Net Loss on Net Sales Decline

Non-GAAP operating income was $31.6 million in the first quarter of 2012, vs. $31.5 million in the first quarter of 2011. Non-GAAP operating income excludes integration, acquisition and other charges, stock-based compensation provision, restructuring, impairment and other charges.

On a Non-GAAP basis, income from continuing operations was $3.3 million in the first quarter of 2012, as compared to $1.1 million in the first quarter of 2012. Non-GAAP income (loss) from continuing operations excludes integration, acquisition and other charges, stock-based compensation provision, restructuring, impairment and other charges, gain on bargain purchase, loss on early extinguishment of debt, net and adjusts income taxes to reflect an estimated cash tax rate. A reconciliation of (loss) income from continuing operations to Non-GAAP income from continuing operations is presented in the attached tables.