Ennis Posts Overall Sales Gain as Print Sales Decline

MIDLOTHIAN, TX—Dec. 20, 2010—Ennis Inc. reported financial results for the three and nine months ended Nov. 30, 2010.

YTD Highlights:

• Consolidated revenues for the nine months ended November 30, 2010 were $418.6 million compared to $396.4 million for the same period ended last year, an increase of $22.2 million or 5.6 percent.

• Consolidated gross profit margins increased 280 basis points (“bps”) over the comparable nine month period last year.

• Diluted earnings per share increased from $0.98 per share for the same period last year to $1.34 for the current period, or an increase of 36.7 percent.

Financial Overview

For the quarter, consolidated net sales increased by $7.0 million, or 5.5 percent, from $127.8 million for the quarter ended Nov. 30, 2009 to $134.8 million for the same quarter of 2010.

• Print sales for the quarter were $69.5 million, compared to $70.6 million for the same quarter last year, or a decrease of 1.5 percent. Print margins decreased from 28.5 percent to 27.9 percent.

• Apparel sales for the quarter were $65.3 million, compared to $57.2 million for the same quarter last year, or an increase of 14.2 percent. Apparel margins increased from 24.8 percent to 26.3 percent.

Net earnings increased from $9.2 million, or 7.2 percent of sales, for the quarter ended Nov. 30, 2009 to $9.6 million, or 7.2 percent of sales, for the quarter ended Nov. 30, 2010.

For the nine month period ended Nov. 30, net sales increased to $418.6 million from $396.4 million in 2009, or 5.6 percent.

• Print sales for the period were $206.5 million, compared to $216.3 million for the same period last year, or a decrease of 4.5 percent. Print margins increased from 27.9 percent to 28.8 percent.

Apparel sales for the period were $212.1 million, compared to $180.1 million for the same period last year, or an increase of 17.8 percent. Apparel margins increased from 22.7 percent to 27.8 percent.

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