Ennis Inc reports 9.4% rise in net earnings by Aug 06
25 Sep '06
3 min read
Net earnings for the period increased by $1.9 million, or 9.0 percent, from $21.1 million for the six months ended August 31, 2005 to $23.0 million for the six months ended August 31, 2006. Diluted earnings increased 8.5 percent, from $.82 per share to $.89 per share for the six months ended August 31, 2005 and 2006, respectively.
The decline in the Print Segment's revenues for the period and the quarter continues to be due primarily to the loss of several large promotional customers and impact of the two plant closings last fiscal year. This decline has been partially offset by the impact of the Company's recent acquisitions.
Without the impact of the items mentioned, the Print Segment's revenues for the quarter and the period would have actually increased slightly over the comparable periods last year.
The Company generated $24.5 million in EBITDA (earnings before interest, taxes, depreciation and amortization) during the quarter, compared to $24.0 million for the comparable quarter last year. For the six month period, the Company generated $48.8 million in EBITDA during the period, compared to $48.2 million for the comparable period last year.
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