Ennis sales continue to be impacted by negative economic environment

22 Dec '09

4 min read

For the nine month period, net sales decreased from $466.7 million for the nine months ended November 30, 2008 to $396.4 million for the nine months ended November 30, 2009, or 15.1%. Print sales for the period were $216.2 million, compared to $253.3 million for the same period last year. Apparel sales for the period were $180.1 million, compared to $213.4 million for the same period last year.

Print margins increased from 26.8% to 27.9%, while Apparel margins were 23.3% and 22.7%, for the nine months ended November 30, 2008 and 2009, respectively. Net earnings for the period decreased from $30.2 million, or 6.5% of sales, for the nine months ended November 30, 2008 to $25.4 million, or 6.4% of sales, for the nine months ended November 30, 2009. Diluted earnings decreased from $1.17 per share to $0.98 per share for the nine months ended November 30, 2008 and 2009, respectively.

The Company, during the quarter, generated $18.2 million in EBITDA (earnings before interest, taxes, depreciation, and amortization) compared to $19.5 million for the comparable quarter last year. For the nine month period ended November 30, 2009, the Company generated $51.3 million in EBITDA during the period, compared to $59.9 million for the comparable period last year. Operating cash flows increased from $36.2 million for the nine months ended November 30, 2008 to $71.5 million for the nine months ended November 30, 2009.

Ennis Inc

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