Apparel Segment sales up at Ennis

23 Dec '06

3 min read

For the period, net sales increased from $428.9 million for the nine months ended November 30, 2005 to $448.6 million for the nine months ended November 30, 2006, or 4.6%. Sales in the Print Segment for the period were $245.0 million, compared to $242.5 million for the same period last year.

The Apparel Segment sales for the period were $203.6 million, compared to $186.4 million for the same period last year. The Company's overall margins remained relatively stable during the period at 25.4% for the current period, compared to 25.7% for the nine months ended November 30, 2005.

The Print Segment's margins decreased slightly from 25.6% to 25.2%, while our Apparel Segment's remained relatively constant at 25.8% to 25.7%, for the nine months ended November 30, 2005 and 2006, respectively. Net earnings for the period increased by $2.6 million, or 8.3%, from $31.2 million for the nine months ended November 30, 2005 to $33.8 million for the nine months ended November 30, 2006. Diluted earnings increased 8.3%, from $1.21 per share to $1.31 per share for the nine months ended November 30, 2005 and 2006, respectively.

Keith Walters, Chairman, President & CEO, commented by saying, “We are extremely pleased with our results for the quarter. We continue to exceed profit expectations and increase our return to our shareholders. We are also extremely pleased with the increase in our Apparel Segment's sales during the quarter. However, we are pleased to see that our recent acquisitions are now performing at a level to more than offset this negative revenue impact."

Ennis Inc

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