Ennis Reports First Q1 Results: Net Sales of $65 Million
Press release from the issuing company
MIDLOTHIAN, Texas--June 23, 2004-- Ennis, Inc. today reported operating results for its first quarter ended May 31, 2004.
For the first quarter ended May 31, 2004, net sales amounted to $65,736,000 compared to $64,874,000 for the same period last year, an increase of 1.3%. Net earnings for the quarter amounted to $4,582,000 or $.27 per diluted share, compared to $4,104,000, or $.25 per diluted share for the corresponding period last year, an increase of 11.6%. Per share earnings computations were based on 16,694,550 shares for the quarter compared to 16,506,482 shares for the corresponding prior period.
The increase in revenues of 1.3% was composed of changes within various segments beginning with a decrease of 0.5% from the Forms Solutions Group, a 7.3% increase in the Promotional Solutions Group and a 2.2% decrease in revenues in the Financial Solutions Group.
The increase in net earnings of 11.6% was attributable to all of the operating groups. The quarter over quarter changes within the various operating groups were increases of 27.2%, 6.5% and 21.4% in the Promotional, Forms and Financial Solutions Groups, respectively.
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