Consolidated Graphics Reports Revenue Decline, Positive Income
Davis added, "While we continue to see evidence of improving economic conditions, it remains difficult to project our future revenues and earnings. Nevertheless, based on current market conditions, we expect the June quarter's revenue to be in the range of $226 - $236 million representing sales growth of up to 5%. This should allow us to achieve Adjusted Net Income improvement in the June 2010 quarter compared to the prior year."
A reconciliation of the non-GAAP financial measures, Adjusted EBITDA, Free Cash Flow, Adjusted Operating Income, Adjusted Operating Margin, Adjusted Net Income and Adjusted Diluted Earnings Per Share are included in the attached tables and in the Current Report on Form 8-K filed today. The Form 8-K also includes the basis for management's use of the non-GAAP financial measures.
Consolidated Graphics, Inc. will host a conference call today, Wednesday, May 5, 2010, at 11:00 a.m. Eastern Time, to discuss its fourth quarter fiscal 2010 results. The conference call will be simultaneously broadcast live over the Internet on our website (www.cgx.com) and a subsequent archive of such call will also be available on our website.
About Consolidated Graphics, Inc.:
Consolidated Graphics, Inc. (CGX), headquartered in Houston, TX, is one of North America's leading general commercial printing companies. With 70 printing businesses strategically located across 27 states, Toronto, and Prague, we offer an unmatched geographic footprint, unsurpassed capabilities, and unparalleled levels of convenience, efficiency and service. With locations in or near virtually every major U.S. market, CGX provides the service and responsiveness of a local printer enhanced by the economic, geographic and technological advantages of a large national organization.
Consolidated Graphics' vast and technologically advanced sheetfed and web printing capabilities are complemented by the world's largest integrated digital footprint. By coupling North America's most comprehensive printing capabilities with strategically located fulfillment centers and industry-leading technology, CGX delivers end-to-end print production and management solutions that are based on the needs of our customers to improve their results. For more information, visit www.cgx.com.