You Tube

Skip Navigation LinksHome > Industry News
SHARE & BOOKMARK
FaceBook Twitter Delicious Digg LinkedIn

Ennis Reports Quarterly Financials

(6/25/2013)

Counselor Top 40 supplier Ennis (asi/52493) has reported that its sales for the quarter ended May 31 decreased to $138.5 million, a 2.8% year-over-year decline. Print sales slipped 6.8%, dropping to $81.4 million, but apparel sales increased 3.3% to $57 million.

"Overall we are pleased with our results for the quarter," said Keith Walters, chairman and CEO of Ennis, and a member of Counselor's Power 50. "Our apparel results continued to improve on both a sequential and comparative basis, as lower priced cotton, which has been flowing into our finished goods inventory, is starting to impact our operational results."

Quarterly earnings for Ennis increased from $3.9 million, or 2.7% of net sales, to $8.5 million, or 6.1% of net sales. Ennis' consolidated profit margin for the quarter increased from 19.8% a year ago to 25.9%. Print margin was up slightly, but apparel margin jumped sharply by 13% to 20.3%. In an earnings statement, Ennis forecasted its margins will continue to improve as costs decline and sales volume moves higher.

"We would expect our apparel margin to continue to improve as the average carrying value of our finished goods inventory declines and as our operational efficiencies improve as production levels increase," Walters said. "While the overall apparel market continues to be challenged, both from a pricing and volume perspective, we have seen some pricing stability."

Ranked by Counselor as the fifth largest supplier in the industry, Ennis reported $235 million worth of North American ad specialty sales in its most recent fiscal year, a decrease of 24% from the previous year.



Sponsored By:

Making You Money: What ASI is all about.

Promotional products, also known as ad specialties, make up a $20.5 billion dollar industry and are used by virtually every business in America. Why? Items like mugs, pens and t-shirts are memorable and provide a better cost per impression for advertisers than almost every major marketing effort like prime time TV, magazines and radio.

With so many businesses buying ad specialties there is a huge opportunity for professionals looking to make great money running a promotional products distributorship. It’s easy and inexpensive to get started and you can work from home.

© 2014, The Advertising Specialty Institute®. All Rights Reserved.

  • A business opportunity to reinvent your career in an exciting field
  • Work at home - for yourself - not by yourself
  • Make money selling ad specialties
  • Partner with a time-tested industry leader
  • Get started instantly with all the tools you need