MultiColor Corp. (LABL, Financial) filed Annual Report for the period ended 2012-03-31.
Multi-color has a market cap of $309.4 million; its shares were traded at around $21.43 with a P/E ratio of 10.1 and P/S ratio of 0.6. The dividend yield of Multi-color stocks is 1.1%. Multi-color had an annual average earning growth of 9.8% over the past 10 years. GuruFocus rated Multi-color the business predictability rank of 2.5-star.
Gross profit increased $30,306 or 45% compared to the prior year. The acquisitions and start-ups occurring after the beginning of fiscal 2011 contributed 31% to the gross profit increase. The remaining increase was due to the impact of foreign exchange, higher sales volumes and favorable sales mix impacts. Gross margins decreased to 19% from 20% of sales revenues compared to the prior year.
We have continued to make progress in expanding our customer base and portfolio of products, services and manufacturing locations in order to address issues related to customer concentration. During 2012, 2011 and 2010, sales to major customers (those exceeding 10% of the Companys net revenues in one or more of the periods presented) approximated 18%, 22% and 28%, respectively, of the Companys consolidated net revenues. Approximately 14%, 16% and 18% of sales in 2012, 2011 and 2010, respectively, were to the Procter & Gamble Company; approximately 4%, 6% and 10% of sales in 2012, 2011 and 2010, respectively, were to the Miller Brewing Company. Sales concentration with our major customers has been significantly reduced since we have added new customers and products with our acquisitions of York, WDH, La Cromografica, Monroe Etiquette, CentroStampa and Collotype which have manufacturing operations in the U.S., Canada, Chile, Poland, France, Italy, Australia and South Africa.
Gross profit increased $30,306 or 45% compared to the prior year. The acquisitions and start-ups that occurred after the beginning of fiscal 2011 contributed 31% to the gross profit increase. The remaining increase was due to the impact of foreign exchange, higher sales volumes and favorable sales mix impacts. Gross margins decreased to 19% from 20% of sales revenues compared to the prior year due primarily to lower revenues and operational inefficiencies in the new Chilean operations acquired with York and the impact of the adjustment related to the step-up of finished goods and work-in-process inventory in the purchase price accounting for York.
Gross profit increased $19,377 or 40% compared to the prior year. The acquisitions of CentroStampa and Monroe Etiquette contributed 21% to the gross profit increase. The remaining increase was due to higher sales volumes, foreign exchange and improved operating efficiencies. Gross margins increased to 20% from 18% of sales revenues compared to the prior year.
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Multi-color has a market cap of $309.4 million; its shares were traded at around $21.43 with a P/E ratio of 10.1 and P/S ratio of 0.6. The dividend yield of Multi-color stocks is 1.1%. Multi-color had an annual average earning growth of 9.8% over the past 10 years. GuruFocus rated Multi-color the business predictability rank of 2.5-star.
Highlight of Business Operations:
During fiscal 2012, the Company had net revenues of $510,247 compared to $338,284 in the prior year. The majority of the increase in revenues was due to acquisitions and start-ups occurring after the beginning of fiscal 2011 which contributed $151,446 or 45% of the revenue increase. The remaining increase was due to a 2% increase in sales volume, a 2% favorable sales mix impact and a 2% favorable foreign exchange impact.Gross profit increased $30,306 or 45% compared to the prior year. The acquisitions and start-ups occurring after the beginning of fiscal 2011 contributed 31% to the gross profit increase. The remaining increase was due to the impact of foreign exchange, higher sales volumes and favorable sales mix impacts. Gross margins decreased to 19% from 20% of sales revenues compared to the prior year.
We have continued to make progress in expanding our customer base and portfolio of products, services and manufacturing locations in order to address issues related to customer concentration. During 2012, 2011 and 2010, sales to major customers (those exceeding 10% of the Companys net revenues in one or more of the periods presented) approximated 18%, 22% and 28%, respectively, of the Companys consolidated net revenues. Approximately 14%, 16% and 18% of sales in 2012, 2011 and 2010, respectively, were to the Procter & Gamble Company; approximately 4%, 6% and 10% of sales in 2012, 2011 and 2010, respectively, were to the Miller Brewing Company. Sales concentration with our major customers has been significantly reduced since we have added new customers and products with our acquisitions of York, WDH, La Cromografica, Monroe Etiquette, CentroStampa and Collotype which have manufacturing operations in the U.S., Canada, Chile, Poland, France, Italy, Australia and South Africa.
Gross profit increased $30,306 or 45% compared to the prior year. The acquisitions and start-ups that occurred after the beginning of fiscal 2011 contributed 31% to the gross profit increase. The remaining increase was due to the impact of foreign exchange, higher sales volumes and favorable sales mix impacts. Gross margins decreased to 19% from 20% of sales revenues compared to the prior year due primarily to lower revenues and operational inefficiencies in the new Chilean operations acquired with York and the impact of the adjustment related to the step-up of finished goods and work-in-process inventory in the purchase price accounting for York.
Gross profit increased $19,377 or 40% compared to the prior year. The acquisitions of CentroStampa and Monroe Etiquette contributed 21% to the gross profit increase. The remaining increase was due to higher sales volumes, foreign exchange and improved operating efficiencies. Gross margins increased to 20% from 18% of sales revenues compared to the prior year.
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