Ennis Revenue Up in Second Quarter
Keith Walters, chairman, chief executive officer and president, commented, "We continued to be pleased with the operational results this year. Operationally, both sectors continue to be able to increase or hold their margins when compared to prior comparable periods. Print margins continue to run ahead of last year and our apparel margins are up 680 bps over the prior year, even while fighting the negative head winds of higher paper and cotton prices. Our apparel sector continued to show strong sales growth during the quarter as well, with sales being up 15.6 percent for the quarter. We continue to be concerned with current cotton pricing which continues to be extremely high. Also, paper pricing continues to be volatile. Our ability to continue to manage these costs increases continues to be unknown and is dependent upon the economic recovery, outside market factors and the actions of our competitors. The construction of our new apparel manufacturing facility in Agua Prieta, Mexico continues to progress and we expect operations to begin at this facility over the next couple of quarters. We continue to look forward to the start-up of this new facility and the potential cost savings, once fully operational. So while much has been accomplished so far this fiscal year, many challenges remain for fiscal year 2011. As always, we will continue to remain vigilant to the task at hand."
- Companies:
- Ennis
- Places:
- Midlothian, Texas