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Selected Quarterly Financial Information (Unaudited)
 12 Months Ended
Dec. 28, 2013
Selected Quarterly Financial Information [Abstract]  
Selected Quarterly Financial Information (Unaudited)
Selected Quarterly Financial Information (Unaudited)
The following table sets forth certain quarterly financial data for the periods indicated (in thousands, except per share amounts):

 
First
Quarter
 
Second
Quarter
 
Third
Quarter (5)
 
Fourth
Quarter (8)
Fiscal Year 2013
 
 
 
 
 
 
 
Net sales                                                                      
 
 
 
 
 
 
 
Envelope
$
166,453

 
$
161,304

 
$
177,717

 
$
244,424

Print
127,245

 
121,554

 
140,331

 
140,630

Label and Packaging
124,916

 
123,682

 
124,733

 
124,819

Total
$
418,614

 
$
406,540

 
$
442,781

 
$
509,873

Operating income (loss)                                                      
 
 
 
 
 
 
 
Envelope
$
9,010

 
$
10,125

 
$
8,119

 
$
12,521

Print
1,007

 
2,018

 
6,874

 
(15,941
)
Label and Packaging
11,544

 
12,908

 
9,245

 
(1,053
)
Corporate
(9,883
)
 
(8,209
)
 
(7,714
)
 
(11,208
)
Total
$
11,678

 
$
16,842

 
$
16,524

 
$
(15,681
)
(Loss) income from continuing operations (2) (4)
(20,490
)
 
(18,996
)
 
13,427

 
(59,468
)
Income from discontinued operations, net of taxes (3)
1,345

 
113

 
13,492

 
1,791

Net (loss) income (2)                                                                 
$
(19,145
)
 
$
(18,883
)
 
$
26,919

 
$
(57,677
)
Net (loss) income per share—basic
 
 
 
 
 
 
 
Continuing operations (1)                                                                    
$
(0.32
)
 
$
(0.30
)
 
$
0.21

 
$
(0.90
)
Discontinued operations (1)                                                                    
0.02

 
—

 
0.21

 
0.03

Net (loss) income (1)
$
(0.30
)
 
$
(0.30
)
 
$
0.42

 
$
(0.87
)
Net (loss) income per share—diluted
 
 
 
 
 
 
 
Continuing operations (1)                                                                    
$
(0.32
)
 
$
(0.30
)
 
$
0.16

 
$
(0.90
)
Discontinued operations (1)                                                                    
0.02

 
—

 
0.16

 
0.03

Net (loss) income (1)
$
(0.30
)
 
$
(0.30
)
 
$
0.32

 
$
(0.87
)

 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Fiscal Year 2012
 
 
 
 
 
 
 
Net sales                                                                      
 
 
 
 
 
 
 
Envelope
$
168,532

 
$
161,760

 
$
159,804

 
$
168,121

Print
142,273

 
138,565

 
154,926

 
149,868

Label and Packaging
128,759

 
123,536

 
122,438

 
119,711

Total
$
439,564

 
$
423,861

 
$
437,168

 
$
437,700

Operating income (loss)                                                       
 
 
 
 
 
 
 
Envelope
$
10,943

 
$
11,127

 
$
10,275

 
$
13,140

Print
(5,519
)
 
8,627

 
15,556

 
14,181

Label and Packaging
13,444

 
14,363

 
13,811

 
13,048

Corporate
(7,582
)
 
(8,150
)
 
(7,360
)
 
(8,719
)
Total
$
11,286

 
$
25,967

 
$
32,282

 
$
31,650

(Loss) income from continuing operations (7)
(24,371
)
 
(1,790
)
 
3,022

 
(57,389
)
(Loss) income from discontinued operations, net of taxes (6)
(2,847
)
 
1,389

 
1,453

 
646

Net (loss) income (7)                                                                   
$
(27,218
)
 
$
(401
)
 
$
4,475

 
$
(56,743
)
Net (loss) income per share—basic
 
 
 
 
 
 
 
Continuing operations (1)                                                                    
$
(0.38
)
 
$
(0.03
)
 
$
0.05

 
$
(0.90
)
Discontinued operations (1)                                                                    
(0.05
)
 
0.02

 
0.02

 
0.01

Net (loss) income (1)
$
(0.43
)
 
$
(0.01
)
 
$
0.07

 
$
(0.89
)
Net (loss) income per share—diluted
 
 
 
 
 
 
 
Continuing operations (1)                                                                    
$
(0.38
)
 
$
(0.03
)
 
$
0.05

 
$
(0.90
)
Discontinued operations (1)                                                                    
(0.05
)
 
0.02

 
0.02

 
0.01

Net (loss) income (1)
$
(0.43
)
 
$
(0.01
)
 
$
0.07

 
$
(0.89
)
 __________________________

(1)
The quarterly earnings per share information is computed separately for each period. Therefore, the sum of such quarterly per share amounts may differ from the total year.
(2)
Includes valuation allowance related to deferred tax assets of $40.6 million recognized in the fourth quarter of 2013.
(3)
Includes $25.6 million gain on sale of discontinued operations, net of tax expense of $10.7 million, most of which was recognized in the third quarter of 2013.
(4)
Includes a bargain purchase gain of $17.3 million, exclusive of $6.8 million of tax expense, recognized in the third quarter of 2013.
(5)
The Company is revising its historical financial statements included in its Form 10-Q for the three month period ended September 28, 2013 ("Q3 Form 10-Q”) to reflect the adjustments made during the fourth quarter 2013 to the preliminary purchase price allocation of the fair value of assets acquired and liabilities assumed on September 16, 2013, the date the Company acquired certain assets of National.

As reported in the Q3 Form 10-Q, the purchase price was preliminarily allocated as of September 16, 2013 based on the estimated fair value of net assets acquired and liabilities assumed at the date Cenveo acquired certain assets of National. During the fourth quarter of 2013, the Company adjusted the purchase price allocation and recorded fair value adjustments to the preliminary purchase price allocation reported at September 28, 2013. These purchase price adjustments have been reflected as of the year ended 2013 in the consolidated financial statements. The adjustments resulted in an increase to the fair value of net assets acquired of $4.8 million and a corresponding increase to the bargain purchase gain recognized, exclusive of $1.9 million in tax expense. The Company has not adjusted its net income from continuing operations for the three and nine month period ended September 28, 2013 for any other items.
(6)
Includes $6.3 million loss on sale of discontinued operations, net of tax benefit of $2.6 million recognized in the first quarter of 2012.
(7)
Includes valuation allowance related to deferred tax assets of $56.5 million recognized in the fourth quarter of 2012.
(8) Includes $33.4 million impairment charge on intangible assets recognized in the fourth quarter of 2013.