The Company generated net sales of $936 million for the six months ended June 27, 2015, compared to $969.5 million for the same period last year, a decline of 3.5%.
Operating income was $23.2 million for the three months ended June 27, 2015, compared to operating income of $13.3 million for the same period last year, an improvement of 74%.
Operating income was $41.4 million for the six months ended June 27, 2015, compared to operating income of $23.4 million for the same period last year, an improvement of 76.9%. Operating income in 2014 was impacted by expenses associated with the closure and consolidation of several envelope facilities related to the integration of the National Envelope assets, which resulted in significant operating margin improvement and efficiencies in 2015.
Adjusted EBITDA remained flat at $42.1 million for both the three months ended June 27, 2015 and June 28, 2014.
For the six months ended June 27, 2015, Adjusted EBITDA was $80.8 million, compared to $78.9 million for the same period last year.
Robert G. Burton, Sr., Chairman and CEO stated: "We are pleased with the performance of our operations during the second quarter. Our results continue to reflect our consolidation efforts that were implemented in our envelope group as solid direct mail volumes and price increases offset the impact of facility closures that were completed throughout 2014. Our envelope segment Adjusted EBITDA margins for the 2Q were 10.2%, which we committed to achieving at the time we completed the acquisition of certain assets of National and began the integration process. Our print, label and packaging groups continued to perform in-line with our expectations for the first six months of the year as well.”
Cenveo is a leading global provider of print and related resources, offering world-class solutions in the areas of custom boxes, custom labels, shrink sleeve labels, envelopes, commercial print, content management and publisher solutions.
