Ennis Inc. Reports Second Quarter Results
For the six month period, net sales increased from $273.6 million to $280.9 million, or 2.7 percent. Print sales for the six month period were $173.4 million, compared to $136.3 million for the same period last year, an increase of $37.1 million, or 27.2 percent. Apparel sales for the six month period were $107.5 million, compared to $137.3 million for the same period last year, or a decrease of 21.7 percent (down 14.7 percent on units and down 7 percent on price). Overall the margin decreased from 27.0 percent to 22.1 percent for the six months ended August 31, 2011 and 2012, respectively. The print margin increased during the period from 28.7 percent to 29.3 percent, while the apparel margin decreased from 25.3 percent to 10.6 percent, again due to higher cotton costs. Net earnings for the period decreased from $21.1 million, or 7.7 percent of net sales, for the six months ended August 31, 2011 to $11.5 million, or 4.1 percent of net sales, for the six months ended August 31, 2012. Diluted earnings per share decreased from $0.81 to $0.44 for the six months ended August 31, 2011 and 2012, respectively.
- Companies:
- Ennis, Featuring Alstyle Apparel