Ennis Inc. Reports Results for Year, Fourth Quarter
Ennis Inc., Midlothian, Texas, reported financial results for the quarter and fiscal year ended February 28, 2015. Highlights for the year include:
- Consolidated net sales increased 6.1 percent for the quarter and 7 percent for the year.
- Print sales increased 7.3 percent for the quarter and 11.9 percent for the year.
- Apparel sales increased 3.5 percent over the comparable quarter and its margin improved 240 basis points on a linked quarter basis. Adjusted diluted earnings per share (a non-GAAP measure) for the quarter increased from $.30 per share to $.34 per share.
"The print group continued its strong performance during the quarter improving gross profit margin by 80 basis points," said Keith Walters, chairman, CEO and president of Ennis. "While on a comparable basis our apparel group continues to be impacted by market dynamics, its gross profit margin during the current quarter increased by more than 240 basis points over the previous quarter, marking two sequential quarters of improvement. The discounting that has been prevalent in the apparel marketplace for most of this fiscal year, including the fourth quarter, is expected to continue into fiscal 2016."
To view the full release, visit www.ennis.com.