Ennis (EBF - Get Report) shares on Monday were lower after the commercial printer of business forms and other documents reported flat fiscal second-quarter earnings on 5.1% higher revenue.

For the quarter ended Aug. 31, the Midlothian, Texas, company earned 37 cents a share, flat with the year-earlier quarter. Sales climbed to $108.8 million from $98.6 million.

Gross-profit margin narrowed a percentage point to 29.8%.

That margin continues to be hurt by the company's past four acquisitions, all of which had gross margins narrower than those Ennis posted historically, said Keith Walters, chairman, president and CEO, in a statement.

"While their margins are improving, until these acquisitions are fully integrated into our systems, we would expect to continue to see a comparable negative impact on our consolidated gross profit margin percentage," he said.

The acquisitions added 8 cents to diluted earnings per share and $35.4 million of revenue for the first half, the executive noted. The company earned 74 cents a share on revenue of $216.8 million in the fiscal first half.

Ennis shares closed off 6.5% at $19.40. On Monday, they traded down as much as 10%, at $18.63.