Consolidated Graphics Reports a 5.1 Percent Revenue Decrease
Houston-based Consolidated Graphics, Inc. announced financial results for the quarter ended Dec. 31, 2011.
Revenue for the December quarter was $283.9 million, a $15.2 million or 5.1 percent decrease compared to the prior year quarter. The decline in revenue compared to the prior year quarter was due to an expected $11.3 million decline in election-related business, a 3.5 percent decline in same-store sales, partially offset by sales growth related to acquisitions. Adjusted Operating Income for the December 2011 quarter was $20.6 million or 7.2 percent of revenue, compared to $30.2 million or 10.1 percent of revenue last year. Adjusted Net Income was $12.6 million, or $1.21 per diluted share for the quarter, compared to Adjusted Net Income of $18.7 million or $1.60 per diluted share for the prior year quarter.