Overall gross profit margins decreased from 27.7 percent to 19.8 percent for the quarters ended May 31, 2011 and May 31, 2012, respectively. Ennis' print margin decreased slightly from 28.8 percent to 27.9 percent, due to the lower margins of our recent acquisitions. The company's apparel margin, which continues to be impacted by the higher yarn costs flowing through its cost of sales, decreased from 26.8 percnet to 7.0 percent for the quarter. As a result, net earnings decreased from $11.4 million, or 8.0 percent of sales, for the quarter ended May 31, 2011 to $3.9 million, or 2.7 percent of sales, for the quarter ended May 31, 2012. Diluted EPS decreased from $0.44 per share to $0.15 per share for the quarters ended May 31, 2011 and May 31, 2012, respectively.
- People:
- Keith Walters