STAMFORD, Conn., July 7 /PRNewswire-FirstCall/ -- Robert G. Burton, Chairman and Chief Executive Officer of Cenveo, Inc. (NYSE: CVO), today gave shareholders the following update:

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'As we close the second quarter, I am pleased with the Company's performance and results despite a challenging economic environment. We executed our game plan by focusing on reducing costs, winning share in the marketplace, and delivering for our customers. By successfully implementing these action items, I remain comfortable with the previously communicated guidance of $64 million of adjusted EBITDA for the second quarter, which represents a 15% increase from the same period last year. We continue to focus on deploying the free cash flow we generate to pay down debt and invest in our business. As we were able to in the first quarter of this year, we paid down our debt balance in the second quarter despite closing the Rex acquisition and paying our largest quarterly cash interest payments.

We have recently strengthened our already strong senior management team. Dean Cherry, who has worked with me for more than 20 years, adds depth and experience to our envelope, commercial print and packaging operations. These players are all industry veterans, all of whom have worked with me at prior industry related companies. As we look towards the back half of the year, I remain optimistic on the Company's prospects and financial goals despite the economic headwinds we continue to face. We expect to continue to execute on our game plan of controlling costs and growing our business organically and selectively through strategic additions. I look forward to sharing with our shareholders all of the Company's recent positive successes in more detail on our conference call on August 7th.'

In addition to results presented in accordance with generally accepted accounting principles in the U.S. ('GAAP'), included in this release are certain Non-GAAP financial measures, including Adjusted EBITDA, Non-GAAP income from continuing operations and Non-GAAP operating income. These Non- GAAP financial measures are defined above, and should be read in conjunction with GAAP financial measures. These Non-GAAP financial measures are not presented as an alternative to cash flow from operations, as a measure of our liquidity or as an alternative to reported net income as an indicator of our operating performance.