Cenevo, Inc. (CVO) Reports Q3 Loss of $2.27/Share

Cenevo, Inc. (NASDAQ: CVO) reported Q3 EPS of ($2.27), versus ($0.92) reported last year. Revenue for the quarter came in at $329.5 million, versus $382.7 million reported last year.

2017 Outlook

"While we are disappointed with our operating results for the first nine months of the year, we remain committed to our longer term strategy of cost containment, growing our market share, and addressing our capital structure. After considering the sale of our Office Product Business, our operating results through the first nine months, and our current view of the fourth quarter, we believe we will achieve Net sales of $1.315 billion to $1.330 billion and Adjusted EBITDA of $110 million to $115 million for the full year 2017. Despite the lower guidance, we believe we will still generate positive Adjusted Free Cash Flow for the full year 2017. Lastly, we currently have liquidity of over $40 million, which we anticipate will improve during the remainder of the year given the fourth quarter is expected to be our heaviest cash flow generation quarter of our year, along with the net proceeds from the sale of our Office Product Business. We look forward to discussing our outlook for the remainder of 2017 and an initial view into our expectations for 2018 on our call tomorrow morning," Mr. Burton concluded.

For earnings history and earnings-related data on Cenevo, Inc. (CVO) click here.

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