Cenveo Reports Smaller Loss on Lower Sales
“As we now place our full attention on 2010, I feel there will be a solid rebound this year for the major players in the printing industry, including Cenveo. The two recently announced M&A transactions indicate there will be continued industry consolidation to reduce excess capacity. I remain optimistic about our Company’s future prospects and, despite continued uncertainty in the macro-economic environment, I am confident that Cenveo’s long-term game plan of investing in strong niche product opportunities will yield dividends to us in 2010. This expectation, along with the continued positive trends in our product markets and the strong performance we have seen from Nashua to date, supports my belief that Cenveo’s financial goals of $250 million in Adjusted EBITDA and approximately $120 million free cash flow are well within reach. To personally demonstrate my conviction in the Company’s prospects, I recently purchased approximately $500,000 of Cenveo stock in the open market and doubled my Employee Stock Purchase Plan contribution to $20,000 a month. I look forward to our conference call tomorrow to discuss in more depth our positive 2010 outlook for Cenveo.”
- Companies:
- Cenveo
- People:
- Robert G. Burton