Ennis Inc., Midlothian, Texas, reported financial results for the three and six months ended Aug. 31, 2016, according to a press release.
Highlights include:
- Gross profit margin on continuing operations increased slightly from 29.5 percent to 29.6 percent on a sequential quarter basis.
- Diluted earnings per share from continuing operations remained constant at $0.26 on a sequential quarter basis, but declined from $0.37 for the comparative quarter last year and declined from $0.72 to $0.52 for the comparable six month period.
- Adjusted diluted earnings per share from continuing operations (a non-GAAP financial measure) was $0.35 for the quarter and $0.64 for the six month period, compared to $0.37 and $0.72 for the comparative periods last year.
Financial overview:
The company’s net sales from continuing operations for the quarter ended Aug. 31, 2016 were $91.2 million compared to $100.5 million for the same quarter last year, a decrease of 9.3 percent. Gross profit margin for continuing operations was $27.0 million for the quarter, or 29.6 percent, as compared to 29.5 percent for the sequential quarter and 31.2 percent for the same quarter last year.
Ennis Inc.’s net sales from continuing operations for the six-month period were $181.7 million compared to $197.2 million for the same period last year, a decrease of 7.9 percent.
For more information about Ennis Inc., visit www.ennis.com.
