Ennis Inc. (EBF, Financial) filed Quarterly Report for the period ended 2012-11-30.
Ennis, Inc. has a market cap of $411.9 million; its shares were traded at around $15.495 with a P/E ratio of 18 and P/S ratio of 0.8. The dividend yield of Ennis, Inc. stocks is 4.6%. Ennis, Inc. had an annual average earning growth of 2.9% over the past 10 years.
Net Sales. For the nine month period, our net consolidated sales increased from $395.5 million to $409.9 million, or 3.6%. Print sales for the nine month period were $254.9 million, compared to $205.5 million for the same period last year, an increase of $49.4 million, or 24.0%. Apparel sales for the nine month period were $155.0 million, compared to $189.9 million for the same period last year, or a decrease of 18.4% (down 12.7% on units and down 5.7% on price). During the period we have been able to offset the decline in our apparel sales by the additional sales associated with our print acquisitions. Our apparel sales continue to be impacted by softness in the market and resulting competitive pricing pressures.
Cost of Goods Sold. Our manufacturing costs increased by $25.6 million from $291.5 million, or 73.7% of sales for the nine months ended November 30, 2011 to $317.1 million, or 77.4% of sales for the comparable period this year. Overall our margin decreased from 26.3% to 22.6% for the nine months ended November 30, 2011 and 2012, respectively. Our print margin increased during the period from 28.4% to 29.1%, while our apparel margin decreased from 24.0% to 12.0%, again due to higher cotton costs. As mentioned earlier, the negative impact associated with the higher cotton costs in our apparel inventory has for the most part abated and we expect to see our apparel margin continue to improve in each succeeding quarter.
Print Segment. Our net print sales, which represented 63% and 62% of our consolidated sales during the three and nine months ended November 30, 2012, were approximately $81.5 million and $254.9 million, respectively, compared to $69.2 million and $205.5 million for the three and nine months ended November 30, 2011, respectively, an increase of $12.3 million, or 17.8% for the quarter and an increase of $49.4 million, or 24.0% for the period. The increase in our sales during the quarter and period relate primarily to our print acquisitions, which added $19.0 million and $63.2 million for the quarter and period, respectively.
Print Segment. Our print gross profit margin for the three and nine months ended November 30, 2012 was $23.4 million and $74.2 million, respectively, as compared to $19.2 million and $58.3 million for the three and nine months ended November 30, 2011, respectively, an increase for the quarter of $4.2 million, or 21.9% and an increase for the period of $15.9 million, or 27.3%. As a percentage of sales, the print gross profit increased from 27.8% to 28.7% for the three months ended November 30, 2011 and 2012, respectively, and increased from 28.4% to 29.1% for the nine months ended November 30, 2011 and 2012, respectively. The increase in our print gross profit on a dollar basis related principally to our print acquisitions. The percentage basis increase improved due to improved operational efficiencies.
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Ennis, Inc. has a market cap of $411.9 million; its shares were traded at around $15.495 with a P/E ratio of 18 and P/S ratio of 0.8. The dividend yield of Ennis, Inc. stocks is 4.6%. Ennis, Inc. had an annual average earning growth of 2.9% over the past 10 years.
Highlight of Business Operations:
Net Sales. Our consolidated net sales were $129.0 million for the third quarter ended November 30, 2012 compared to $121.8 million for the third quarter ended November 30, 2011, or an increase of 5.9%. Print sales increased 17.8% for the quarter, from $69.2 million to $81.5 million. Apparel sales for the quarter declined by 9.9% (down 6.9% on units and down 3.0% on price) from $52.6 million to $47.4 million. During the quarter we offset the decline in our apparel sales by additional sales associated with our print acquisitions. Our apparel sales continue to be impacted by softness in the market and resulting competitive pricing pressures.Net Sales. For the nine month period, our net consolidated sales increased from $395.5 million to $409.9 million, or 3.6%. Print sales for the nine month period were $254.9 million, compared to $205.5 million for the same period last year, an increase of $49.4 million, or 24.0%. Apparel sales for the nine month period were $155.0 million, compared to $189.9 million for the same period last year, or a decrease of 18.4% (down 12.7% on units and down 5.7% on price). During the period we have been able to offset the decline in our apparel sales by the additional sales associated with our print acquisitions. Our apparel sales continue to be impacted by softness in the market and resulting competitive pricing pressures.
Cost of Goods Sold. Our manufacturing costs increased by $25.6 million from $291.5 million, or 73.7% of sales for the nine months ended November 30, 2011 to $317.1 million, or 77.4% of sales for the comparable period this year. Overall our margin decreased from 26.3% to 22.6% for the nine months ended November 30, 2011 and 2012, respectively. Our print margin increased during the period from 28.4% to 29.1%, while our apparel margin decreased from 24.0% to 12.0%, again due to higher cotton costs. As mentioned earlier, the negative impact associated with the higher cotton costs in our apparel inventory has for the most part abated and we expect to see our apparel margin continue to improve in each succeeding quarter.
Print Segment. Our net print sales, which represented 63% and 62% of our consolidated sales during the three and nine months ended November 30, 2012, were approximately $81.5 million and $254.9 million, respectively, compared to $69.2 million and $205.5 million for the three and nine months ended November 30, 2011, respectively, an increase of $12.3 million, or 17.8% for the quarter and an increase of $49.4 million, or 24.0% for the period. The increase in our sales during the quarter and period relate primarily to our print acquisitions, which added $19.0 million and $63.2 million for the quarter and period, respectively.
Print Segment. Our print gross profit margin for the three and nine months ended November 30, 2012 was $23.4 million and $74.2 million, respectively, as compared to $19.2 million and $58.3 million for the three and nine months ended November 30, 2011, respectively, an increase for the quarter of $4.2 million, or 21.9% and an increase for the period of $15.9 million, or 27.3%. As a percentage of sales, the print gross profit increased from 27.8% to 28.7% for the three months ended November 30, 2011 and 2012, respectively, and increased from 28.4% to 29.1% for the nine months ended November 30, 2011 and 2012, respectively. The increase in our print gross profit on a dollar basis related principally to our print acquisitions. The percentage basis increase improved due to improved operational efficiencies.
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