The decline in net sales is attributable to the consolidation of several envelope facilities during the second half of 2014 in connection with the accelerated integration of the National Envelope assets with our existing operations and two new facilities. Excluding the estimated impacts of the integration, we believe our envelope group net sales were up modestly, which is primarily attributable to product mix and pricing improvements, offset by volume declines.
Operating income was $18.2 million in 1Q, compared to operating income of $10.1 million for the same period last year.
For the three months ended March 28, 2015, the Company had a loss from continuing operations of $7.6 million, or $0.11 per diluted share, compared to a loss of $16.8 million, or $0.25 per diluted share, for the same period last year.
Adjusted EBITDA for the 1Q was $38.7 million, compared to Adjusted EBITDA of $36.8 million for the same period last year.
Robert G. Burton, Sr., Chairman and CEO stated: "We are very pleased with the performance of our operations during the 1Q 2015, in which we achieved significant improvement in operating income and Adjusted EBITDA, despite the severe weather that we experienced. The stronger performance was primarily driven by our envelope operations, which are now benefiting from efficiencies realized from last year's National Envelope integration. We also saw steady operational performances out of our print group as well as our label and packaging group. Additionally, we have improved our capital structure by extinguishing over $22.6 million of the 11.5% notes to date in 2015, leaving the current remaining balance under $200 million."
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.
