Ennis reports Q2 EPS 40c vs. 42c last year

Reports Q2 revenue $99M vs. $106.8M last year. Keith Walters, CEO, commented by stating, “Our results for the quarter met our expectations as larger macroeconomic conditions have softened demand and caused greater competition on price. During periods of reduced demand like we are currently experiencing, we carefully monitor and manage our costs in order to maintain our strong profit margins. Thus, while sales decreased from the same quarter last year, the Company’s EBITDA margin improved slightly to 18.6% of sales compared to 18.5% of sales during last year’s second quarter. During the current quarter, we completed the acquisition of Printing Technologies located in Indianapolis, Indiana. PTI is a leading manufacturer of innovative media solutions used in all types of printing technologies including direct thermal, thermal transfer, ink jet, dot matrix and laser. This acquisition continues to strengthen our production capabilities and diversify our product offerings to enable us to better serve our broad customer base. We will continue to explore acquisitions that make sense and hunt for new sales in new markets and new channels.We believe we have one of the strongest balance sheets in the industry, with no debt and significant cash. Our profitability and strong financial condition will allow us to continue operations and fund acquisitions without incurring debt. Given those strengths, we also anticipate timely access to credit should larger acquisition opportunities materialize. We continue to focus on delivering profitability and returns to our shareholders.”