This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Ennis, Inc. Reports Results For The Three And Six Months Ended August 31, 2013

Ennis, Inc. (the “Company"), (NYSE: EBF), today reported financial results for the three and six months ended August 31, 2013. Highlights for the quarter include:

  • Consolidated gross profit margin increased 260 basis points for the quarter and 440 basis points for the period.
    • Apparel gross profit margin increased 870 basis points for the quarter and 1,110 basis points for the period.
  • Diluted EPS increased 31.0% to $0.38 per share for the quarter and 59.1% to $0.70 per share for the period.

Financial Overview

The Company’s consolidated net sales for the quarter were $135.3 million compared to $138.3 million for the same quarter last year. Print sales were down 8.2% on a comparable quarter basis, from $86.1 million to $79.0 million. Apparel sales increased 7.6% (volume up 12.7% and selling price per unit down 4.9%) for the comparable quarter, from $52.3 million to $56.3 million. Consolidated gross profit margin ("margin") for the quarter increased 260 basis points from 24.5%, for the same quarter last year, to 27.1%. For a quarter comparison basis, print margin remained relatively stable at 30.0% plus, while apparel margin increased from 14.4% to 23.1%. Apparel margin continued to increase on both a comparable and sequential quarter basis, due to lower input costs and higher production levels. As a result, net earnings increased from $7.6 million, or 5.5% of net sales, for the quarter ended August 31, 2012 to $9.8 million, or 7.2% of net sales, for the quarter ended August 31, 2013. Diluted earnings per share increased 31.0% from $0.29 for the 2012 quarter to $0.38 for the 2013 quarter.

For the six month period, net sales decreased from $280.9 million to $273.8 million, or 2.5%. Print sales for the six month period were $160.4 million, compared to $173.4 million for the same period last year, a decrease of $13.0 million, or 7.5%. Apparel sales for the six month period were $113.4 million, compared to $107.5 million for the same period last year, or an increase of $5.9 million or 5.5% (volume up 11.6% and price down 6.1%). The consolidated margin increased from 22.1% to 26.5% for the six months ended August 31, 2012 and 2013, respectively. Print margin increased during the period from 29.3% to 29.9%, as a result of the elimination of duplicative costs associated with the integration of acquisitions. Apparel margin increased 1,110 basis points from 10.6% to 21.7% during the period, due to lower input costs and increased production levels. Net earnings increased from $11.5 million, or 4.1% of net sales, for the six months ended August 31, 2012 to $18.3 million, or 6.7% of net sales, for the six months ended August 31, 2013. Diluted earnings per share increased 59.1% from $0.44 to $0.70 for the six months ended August 31, 2012 and 2013, respectively.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,051.73 -48.45 -0.28%
S&P 500 1,973.63 -4.59 -0.23%
NASDAQ 4,424.7040 -7.4420 -0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs