Consolidated Graphics Reports Record Revenue of $210 Million in Q1
Press release from the issuing company
HOUSTON, July 27 -- Consolidated Graphics, Inc. today announced financial results for its first quarter ended June 30, 2005.
Revenue for the June quarter was a record $209.9 million, up 16% compared to a year ago. Net income for the June quarter was $8.7 million, or $.61 per diluted share, representing increases of 28% and 27% compared to net income of $6.8 million and $.48 per diluted share reported for the June 30, 2004 quarter.
"We are very pleased to report results that were in-line with our expectations for the quarter," commented Joe R. Davis, Chairman and Chief Executive Officer. "This is the first full quarter following our Kelmscott acquisition in March 2005, which contributed not only to our record top-line performance, but to our bottom-line performance as well. We were confident that the seven operating companies we acquired in connection with this transaction would perform well -- growing our revenues and earnings while not diluting our operating margins -- and are pleased with their results."
Mr. Davis added, "The results from the remainder of our operations were also very good, reflecting our ability to leverage our power of scale. In particular, national sales and cross selling results showed continued strong growth, as our national reach and comprehensive printing and print-related capabilities are helping us win new national accounts and capture incremental revenue opportunities."
Mr. Davis concluded, "We remain very confident in our ability to capitalize on our industry-leading market position and financial strength to generate long term growth in sales and profits. For the second quarter, we project revenues to be $213 million, an 11% increase from the prior year overall and a 14% increase excluding election-related revenues in the prior year. Diluted earnings per share are projected at $.62, an increase of 17% over the prior year."
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