Cenveo Provides Update
STAMFORD, Conn., April 7, 2014 /PRNewswire/ -- In September 2013, Cenveo, Inc. (NYSE: CVO) acquired certain assets of National Envelope ("NEC") through the bankruptcy process. As part of the consideration for the acquisition, Cenveo issued approximately 2.1 million shares to the debt holders of National Envelope. Under the terms of the purchase agreement, the debt holders were restricted from selling the Cenveo shares for a period of six months from the date of the acquisition. This six months period has now lapsed. We believe that the recent increased trading activity and volatility in our stock is largely related to the expiration of the six month restriction period.
Mr. Robert G. Burton, Sr., Chairman and Chief Executive Officer, stated:
"While we have just entered the second quarter, I am pleased with the progress that we are making across the Company. Our integration efforts with National Envelope are in full gear and we are seeing improvements across the rest of our businesses. I look forward to sharing this positive momentum on our first quarter earnings call on May 8, 2014. Additionally, we will be presenting at the Barclays High Yield conference in Phoenix, Arizona on May 13th and 14th."
Cenveo (NYSE: CVO), world headquarters in Stamford, Connecticut, 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. The company provides a one-stop offering through services ranging from design and content management to fulfillment and distribution. With a worldwide distribution platform, we pride ourselves on delivering quality solutions and service every day for our more than 100,000 customers. For more information please visit us at www.cenveo.com.
Statements made in this release, other than those concerning historical financial information, may be considered "forward-looking statements," which are based upon current expectations and involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. In view of such uncertainties, investors should not place undue reliance on our forward-looking statements. Such statements speak only as of the date of this release, and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Factors that could cause actual results to differ materially from management's expectations include, without limitation: (i) the recent United States and global economic conditions, which have adversely affected us and could continue to do so; (ii) our substantial level of indebtedness, which could impair our financial condition and prevent us from fulfilling our business obligations; (iii) our ability to service or refinance our debt; (iv) the terms of our indebtedness imposing significant restrictions on our operating and financial flexibility; (v) additional borrowings that are available to us could further exacerbate our risk exposure from debt; (vi) our ability to successfully integrate acquired businesses into our business; (vii) a decline of our consolidated profitability or profitability within one of our individual reporting units could result in the impairment of our assets, including goodwill and other long-lived assets; (viii) intense competition and fragmentation in our industry; (ix) the general absence of long-term customer agreements in our industry, subjecting our business to quarterly and cyclical fluctuations; (x) factors affecting the United States postal services impacting demand for our products; (xi) the availability of the internet and other electronic media may adversely affect our business; (xii) increases in paper costs and decreases in the availability of raw materials; (xiii) our labor relations; (xiv) our compliance with environmental laws; (xv) our dependence on key management personnel; and (xvi) our dependence upon information technology systems. This list of factors is not exhaustive, and new factors may emerge or changes to the foregoing factors may occur that would impact our business. Additional information regarding these and other factors can be found in Cenveo, Inc.'s periodic filings with the SEC, which are available at www.cenveo.com.
Inquiries from analysts and investors should be directed to Ayman Zameli, Senior Vice President of Capital Markets and Investor Relations at (203) 595-3063.
SOURCE Cenveo, Inc.