Ennis, Inc., has a nationwide footprint with 55 facilities across the United States engaging in the print and manufacture of business forms and commercial print for the wholesale trade.
“Our plants have been deemed essential to the supply chain and are currently operating at reduced capacities.”
JUNE 23, 2020
Ennis, Inc. (the “Company"), today reported financial results for the first quarter ended May 31, 2020. Highlights include:
- Revenues decreased $19.0 million, or 17.6% for the comparative quarter.
- Earnings per diluted share for the current quarter were $0.16 compared to $0.37 for the comparative quarter last year.
- Our plants have been deemed essential to the supply chain and are currently operating at reduced capacities.
Financial Overview The Company’s revenues for the first quarter ended May 31, 2020 were $89.0 million compared to $108.0 million for the same quarter last year, a decrease of 17.6%.
Gross profit margin ("margin") was $23.9 million for the quarter, or 26.9%, as compared to $32.7 million, or 30.3% for the first quarter last year.
Net earnings for the quarter were $4.2 million, or $0.16 per diluted share, compared to $9.6 million, or $0.37 per diluted share, for the first quarter last year.
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Blog Publisher’s Comment:
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Ennis isn’t in the reprographics business, but, that said, it is a publicly-held “printing” company and I’m looking for articles and press releases that reveal the impact of COVID-19 on firms in the broader “Print and Graphics” Industry spectrum. The Quarter Ennis is reporting on includes the months of March, April and May. Most print/reprographics firms around the US were not affected by COVID 19 until mid-March. It is my opinion that Ennis’ Quarterly results would have been worse (down a larger percentage than 17.6%) if the quarter had reported April, May and June rather than March, April and May (or if the COVID-19 “impact” had begun March 1strather than mid-March.)
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