Ennis, Inc. reports news centered on its role as a U.S. private-label printed business products supplier serving a national distributor network. The company manufactures and sells business forms, printed and electronic media, integrated forms and labels, presentation products, flexographic printing, advertising specialties, internal bank forms, plastic cards, secure and negotiable documents, specialty packaging, direct mail, envelopes, tags, labels and other custom products.
Recurring developments include quarterly and annual operating results, gross margin and earnings trends, cash dividends on common stock, share repurchase activity, annual shareholder meeting dates, acquisitions of print and mailing businesses, and integration of acquired operations into Ennis systems.
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Ennis, Inc. (NYSE: EBF) reported a strong fiscal performance for the year ending February 28, 2023. Revenues reached $431.8 million, up 8.0% year-over-year, with quarterly revenues of $102.7 million, marking a 3.0% increase from the previous year. Net earnings for the quarter stood at $12.2 million or $0.47 per diluted share, significantly increasing from $6.7 million or $0.26 the prior year, aided by a $5.8 million gain from an asset sale. The company's gross profit margin improved to 30.3% for the fiscal year, reflecting better pricing strategies despite increased costs. EBITDA for the fiscal year also rose to $82.3 million, representing 19.1% of sales. Ennis expects to leverage its strong balance sheet for future growth opportunities, with plans for potential acquisitions.
On April 12, 2023, a Nebraska jury ruled against Wright Printing Company and its executives, awarding $5 million for damages to Crabar/GBF, Inc., a subsidiary of Ennis (NYSE: EBF). The jury found that the defendants misappropriated trade secrets related to customer data and folder specifications to launch competing products. The verdict included over $3.75 million in actual damages and $1.25 million in punitive damages. The ruling underscores Ennis' commitment to protecting its intellectual property and shareholders' investments. CEO Keith Walters expressed satisfaction with the outcome, asserting it affirms the company's property rights and seeks to recapture losses incurred due to the defendants' actions.
Ennis, Inc. (NYSE: EBF) announced a quarterly cash dividend of $0.25 per share on its common stock, payable on May 8, 2023, to shareholders of record as of April 17, 2023. As a leading manufacturer of business forms since 1909, the company operates from its headquarters in location value="LU/us.tx.midian"Midlothian, Texas, and is known for its wide range of printed products. The announcement highlights the company's commitment to returning value to shareholders through consistent dividend payments.
Ennis, Inc. (NYSE: EBF) reported third-quarter revenues of $110.2 million, a 7.1% increase from $103.0 million year-over-year. Earnings per diluted share rose by 50.2% to $0.44, up from $0.29. The gross profit margin improved to 30.4% compared to 28.4% last year. Year-to-date, revenues reached $329.1 million, up 9.6% from $300.3 million. A quarterly cash dividend of 25 cents per share was declared, payable on February 2, 2023.
Ennis, Inc. (NYSE:EBF) has announced its acquisition of School Photo Marketing, a provider of printing and marketing services to over 1,400 school and sports photographers based in Morganville, New Jersey. This acquisition is expected to enhance Ennis' service capabilities within the educational photography sector. The integration will allow School Photo Marketing to continue operating under its name while leveraging Ennis' manufacturing resources. This strategic move aligns with Ennis' wholesale manufacturing-distribution model, potentially expanding their market reach.