Operating income was $14.2 million in the first quarter of 2012, compared to $19.3 million in the first quarter of 2011. The decrease in operating income was primarily due to increased restructuring, impairment and other charges as a result of a print plant closure and other cost savings actions executed in the first quarter of 2012, offset in part by our lower cost structure due to the integration of our Envelope Product Group ("EPG") acquisition and lower compensation related expenses. Non-GAAP operating income was $31.6 million in the first quarter of 2012, compared to $31.5 million in the first quarter of 2011. Non-GAAP operating income excludes integration, acquisition and other charges, stock-based compensation provision, restructuring, impairment and other charges.
- People:
- Robert G. Burton, Sr.
- Places:
- Stamford, Connecticut