Ennis Reports Second Quarter Operating Results
Ennis, one of the largest private-label printed business product suppliers in the United States based in Midlothian, Texas, recently reported its operating results for the second quarter, ended Aug. 31.
In June, Ennis announced two related transactions, including the purchase of Crabar/GBF from Centrum Equities and its merger with Centrum Acquisitions, the parent company of Alstyle Apparel. "These combined transactions will solidify Ennis' position in the wholesale manufacturing portion of the business forms industry, and at the same time provide the company with a new growth product line," stated Keith Walters, chairman/president/CEO . "Upon completion of these transactions, the combined entities will have annual revenues in excess of $500,000,000. The impact of the Crabar/GBF acquisition on June 30 is reflected in second quarter operating results, and the merger with Alstyle Apparel is expected to be completed late in the third fiscal quarter."
For the second quarter ended Aug. 31, net sales amounted to $73,374,000 compared to $65,003,000 for the same period last year, an increase of 12.9 percent. Net earnings for the quarter amounted to $5,370,000 or $.32 per diluted share, compared to $4,497,000, or $.27 per diluted share for the corresponding period last year, an increase of 19.4 percent.
Ennis has 37 production facilities in 16 states. The company offers an extensive product line, including simple and complex forms, laser cut-sheets, negotiable documents, internal bank forms, tags, labels, presentation folders, commercial printing, advertising specialties, screen printed products, and point-of-purchase display advertising.
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