Ennis, Inc. (the “Company"), (NYSE: EBF), today reported financial results for the first quarter ended May 31, 2012.
Our consolidated net sales were $142.5 million for the quarter ended May 31, 2012 compared to $143.3 million for the quarter ended May 31, 2011. Print sales for the current quarter were $87.3 million, compared to $67.1 million for the same quarter last year, or an increase of 30.1%. Apparel sales for the current quarter were $55.2 million, compared to $76.1 million for the same quarter last year, or a decrease of 27.5%. Overall our gross profit margins ("margins") decreased from 27.7% to 19.8% for the quarters ended May 31, 2011 and May 31, 2012, respectively. Our print margin decreased slightly from 28.8% to 27.9%, due to the lower margins of our recent acquisitions. Our apparel margin, which continues to be impacted by the higher yarn costs flowing through its cost of sales, decreased from 26.8% to 7.0% for the quarter. As a result, our net earnings decreased from $11.4 million, or 8.0% of sales, for the quarter ended May 31, 2011 to $3.9 million, or 2.7% of sales, for the quarter ended May 31, 2012. Diluted EPS decreased from $0.44 per share to $0.15 per share for the quarters ended May 31, 2011 and May 31, 2012, respectively.
During the quarter, the Company generated $10.0 million in EBITDA (earnings before interest, taxes, depreciation, and amortization) compared to $21.9 million for the comparable quarter last year.Reconciliation of Non-GAAP to GAAP measure ( dollars in thousands):
|Three months ended|
|Earnings before income taxes||$||6,108||$||17,850|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV