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Net earnings for the period decreased from $24.7 million, or 4.6 percent of net sales for the fiscal year ended Feb. 28, 2013, to $13.2 million, or 2.4 percent of net sales for the fiscal year ended Feb. 28, 2014, due to the goodwill and trademark impairment charge of $24.2 million in the fourth quarter. Diluted earnings per share decreased from $0.95 to $0.50 for each year, respectively. Excluding the impairment charge, non-GAAP net earnings for the year would have been approximately $35.3 million, or approximately $1.35 per diluted share.
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- Companies:
- Ennis
- Places:
- Midlothian, Texas
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