Ennis Inc. Reports Results for the First Quarter Ended May 31, 2015 and Declares Quarterly Dividend
The company's consolidated net sales for the quarter ended May 31, 2015 were $150.6 million compared to $141.2 million for the same quarter last year, an increase of 6.7 percent. Print sales increased 9.5 percent from $88.4 million to $96.8 million and apparel sales increased 1.9 percent from $52.8 million to $53.8 million. Consolidated gross profit margin ("margin") was $37.5 million for the quarter, or 24.9 percent, compared to $35.4 million, or 25.1 percent for the same quarter last year. Print margin was 31.0 percent for the quarter compared to 30.5 percent for the same quarter last year, while apparel margin was 14.1 percent for the quarter compared to 16.0 percent for the comparable quarter last year. Apparel margin was impacted by higher input costs due to lower initial manufacturing efficiencies related to our strategic decision to transition to more non-commodity program business and the continuing competitive selling price pressures in the marketplace on commodity type products. Net earnings for the quarter was $9.2 million, or $0.36 per diluted share as compared to $8.0 million, or $0.31 per diluted share for the same quarter last year, an increase of 16.1 percent.
- Companies:
- Ennis