HOUSTON, – Consolidated Graphics, Inc. today announced financial results for the quarter ended June 30, 2011.

Year-over-Year Quarterly Highlights:

• Revenue increased 2.8% to $243.4 million
• Adjusted Operating Income was $8.9 million, or 3.7% of revenues
• Adjusted Diluted Earnings Per Share were $.43

Revenue for the June quarter increased 2.8% to $243.4 million, compared to the prior year quarter. The higher revenues resulted from 1.5% growth in same-store sales, excluding election-related business, and the impact of acquisitions, partially offset by lower election-related business. Adjusted Operating Income for the June 2011 quarter was $8.9 million or 3.7% of revenue, compared to $9.7 million or 4.1% of revenue last year. Adjusted Net Income was $4.9 million and Adjusted Diluted Earnings Per Share were $.43 in both the June 2011 and June 2010 quarters.

Operating income was $3.6 million during the June 2011 quarter and included $4.6 million in expenses resulting from the withdrawal from certain multi-employer pension plans. Operating income during the June 2010 quarter was $12.9 million and included $5.2 million in income resulting from the settlement of litigation, partially offset by a $1.0 million charge for the cost of withdrawing from a multi-employer pension plan. Net income for the June 2011 quarter was $1.6 million or $.14 diluted earnings per share, compared to $6.8 million or $.59 diluted earnings per share last year.

Joe R. Davis, Chairman and Chief Executive Officer of Consolidated Graphics, commented, "We grew sales and maintained profitability in a non-election quarter when we typically experience our lowest seasonal demand, and at the same time, increased our investment in the technology and innovation that differentiates our value proposition. As the year progresses, we will continue to invest in our best-in-class solutions, manage our costs, and acquire good assets to grow sales and increase profitability going forward."

Mr. Davis concluded, "Based on current market conditions and the usual seasonal improvements, we expect the September quarter's revenue to be in the range of $262 - $272 million which assumes year-over-year same-store sales growth of up to 5%, as well as incremental revenue from current year acquisitions and lower election-related business. We also expect Adjusted Diluted Earnings Per Share in the September 2011 quarter, excluding the estimated impact of lower election-related business, to improve compared to the same quarter of the prior year."

Share Repurchase Program Update

On November 1, 2010, the Board of Directors authorized the purchase of up to an aggregate of $50 million of the Company's common shares. During the quarter, the Company purchased 215,447 shares of its common stock for $11.5 million. During the past nine months, the Company purchased 771,657 shares (6.6% of common shares outstanding) of its common stock for $39.2 million.

Additional Share Repurchase Authorization

On August 1, 2011, the Board of Directors amended the share repurchase program approved in November 2010 by increasing the authorization to purchase the Company's common stock from $50 million to $100 million. Additionally, the expiration of the program was extended to March 31, 2013. The amended share repurchase program enables the Company to repurchase shares of its common stock in open-market purchases as well as privately negotiated transactions, pursuant to applicable securities regulations, and subject to the terms of our bank facilities, market conditions and other factors. The Board of Directors may modify, suspend, extend or terminate the program at any time. Remaining authorization under the amended share repurchase program at August 1, 2011 was $60.5 million.

A reconciliation of the non-GAAP financial measures, Adjusted EBITDA, Free Cash Flow, Adjusted Operating Income, Adjusted Operating Margin, Adjusted Net Income and Adjusted Diluted Earnings Per Share to the most directly comparable GAAP financial measures are included in the attached tables and in the Current Report on Form 8-K filed today with the Securities and Exchange Commission. The Form 8-K also includes the basis for management's use of these non-GAAP financial measures.

Consolidated Graphics, Inc. will host a conference call today, Wednesday, August 3, 2011, at 11:00 a.m. Eastern Time, to discuss its first quarter fiscal 2012 results. The conference call will be simultaneously broadcast live over the Internet on our website (http://www.cgx.com/) and a subsequent archive of such call will also be available on our website.

Consolidated Graphics, Inc. (CGX), headquartered in Houston, Texas, is one of North America's leading general commercial printing companies. With 70 printing businesses strategically located across 27 states, Toronto, and Prague, and a presence in Asia, CGX offers an unmatched geographic footprint, unsurpassed capabilities, and unparalleled levels of convenience, efficiency and service. With locations in or near virtually every major U.S. market, CGX provides the service and responsiveness of a local printer enhanced by the economic, geographic and technological advantages of a large national organization.

Consolidated Graphics' vast and technologically advanced sheetfed and web printing capabilities are complemented by the world's largest integrated digital footprint. By coupling North America's most comprehensive printing capabilities with strategically located fulfillment centers and industry-leading technology, CGX delivers end-to-end print production and management solutions that are based on the needs of our customers to improve their results. For more information, visit http://www.cgx.com/.