Ennis Inc. Reports Results for the Three and Nine Months Ending Nov. 30
During the third quarter, the company generated $19 million in EBITDA (a non-GAAP financial measure calculated as net earnings before interest, taxes, depreciation, and amortization) compared to $13.2 million for the comparable quarter last year. For the nine-month period this year, the company generated $54.9 million of EBITDA compared to $38.9 million for the comparable period last year.
Ennis believes the non-GAAP financial measure of EBITDA provides important supplemental information to both management and investors regarding financial and business trends used in assessing its results of operations. The company believes adding back the specified items to net earnings provides a more meaningful comparison to the corresponding reported periods and internal budgets and forecasts, provides management with a more relevant measurement of operating performance and is more useful in assessing management performance. In addition, EBITDA is a component of the financial covenants and an interest rate metric in the company’s credit facility.
"While the market continues to be challenging, we remain optimistic about the remainder of the fiscal year and the first part of next year,” Walters said.
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