Ennis, Inc. (the “Company"), (NYSE: EBF), today reported financial results for the first quarter ended May 31, 2011.
- Consolidated revenues for the quarter increased $2.6 million, or 1.8% over the comparable quarter last year.
- Apparel sales increased $3.1 million, or 4.2% over the comparable quarter last year.
- Diluted earnings per share decreased from $.50 per share for the same quarter last year to $.44 for the current quarter.
For the quarter, consolidated net sales increased by $2.6 million, or 1.8%, from $140.7 million for the quarter ended May 31, 2010 to $143.3 million for the quarter ended May 31, 2011. Print sales for the quarter were $67.1 million, compared to $67.8 million for the same quarter last year, or a decrease of 1.0%. Apparel sales for the quarter were $76.1 million, compared to $73.0 million for the same quarter last year, or an increase of 4.2%. Overall gross profit margins ("margins") decreased from 30.0% to 27.7% for the quarters ended May 31, 2010 and May 31, 2011, respectively. Print margins decreased from 30.3% to 28.8%, and Apparel margins decreased from 29.7% to 26.8%, for the quarters ended May 31, 2010 and May 31, 2011, respectively. Net earnings for the quarter decreased from $13.0 million, or 9.3% of sales, for the quarter ended May 31, 2010 to $11.4 million, or 8.0% of sales, for the quarter ended May 31, 2011. Diluted EPS decreased from $0.50 per share to $0.44 per share for the quarters ended May 31, 2010 and May 31, 2011, respectively.The Company, during the quarter, generated $21.9 million in EBITDA (earnings before interest, taxes, depreciation, and amortization) compared to $23.7 million for the comparable quarter last year.
|Three months ended|
|Earnings before income taxes||$||17,850||$||20,536|
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