Ennis, Inc. Reports Results For The Three And Six Months Ended August 31, 2010
Ennis, Inc. (the “Company"), (NYSE: EBF), 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.
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