Apparel Sales Lift Ennis as Printing Sales Sag

MIDLOTHIAN, TX—Sep 20, 2010—Ennis, Inc. today reported financial results for the three and six months ended August 31, 2010.

For the quarter, consolidated net sales increased by $5.2 million, or 3.8%, from $137.8 million for the quarter ended August 31, 2009 to $143.0 million for the quarter ended August 31, 2010.

Print sales for the quarter were $69.1 million, compared to $73.9 million for the same quarter last year, or a decrease of 6.5%.

Apparel sales for the quarter were $73.9 million, compared to $63.9 million for the same quarter last year, or an increase of 15.6%.

Overall gross profit margins (“margins”) increased from 26.0% to 27.8% for the quarters ended August 31, 2009 and August 31, 2010, respectively. Print margins decreased from 28.7% to 28.2%, and Apparel margins increased from 22.9% to 27.4%, for the quarters ended August 31, 2009 and August 31, 2010, respectively.

Net earnings, for the quarter, increased from $9.5 million, or 6.9% of sales, for the quarter ended August 31, 2009 to $12.1 million, or 8.5% of sales, for the quarter ended August 31, 2010. Diluted EPS increased from $0.37 per share to $0.47 per share for the quarters ended August 31, 2009 and August 31, 2010, respectively.

For the six month period, net sales increased from $268.6 million for the six months ended August 31, 2009 to $283.8 million for the six months ended August 31, 2010, or 5.7%, .

Print sales for the period were $136.9 million, compared to $145.6 million for the same period last year, or a decrease of 6.0%. Print margins increased from 27.5% to 29.2%.

Apparel sales for the period were $146.8 million, compared to $123.0 million for the same period last year, or an increase of 19.4%. Apparel margins increased from 21.7% to 28.5%.

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