Cenveo Reports Larger Loss on Small Uptick in Sales

Cenveo recorded a net loss of $186.4 million as compared to a net loss of $30.9 million for the year ended Jan. 2, 2010. Net loss for the year just ended includes $181.4 million of non-cash goodwill and other long-lived asset impairment charges related to our PSG reporting unit and a $9.6 million loss on early extinguishment of debt related to the company’s two financing transactions. The year ended Jan. 2, 2010 included gains on early extinguishment of debt of $16.9 million. On a Non-GAAP basis, income from continuing operations was $27.7 million or $0.44 per diluted share for the full year.