Last10K.com

Ennis, Inc. (EBF) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, February 28, 2018

Ennis, Inc.

CIK: 33002 Ticker: EBF

Exhibit 99.1

 

LOGO

FOR IMMEDIATE RELEASE

ENNIS, INC. REPORTS RESULTS

FOR THE QUARTER AND YEAR ENDED FEBRUARY 28, 2018 AND SETS RECORD DATE

FOR ANNUAL SHAREHOLDER MEETING

Midlothian, TX. April 24, 2018 — Ennis, Inc. (the “Company”), (NYSE: EBF), today reported financial results for the quarter and fiscal year ended February 28, 2018. Highlights include:

 

    Revenues increased $13.3 million, or 3.7% for the comparative fiscal year.

 

    Gross profit margin increased from 28.8% to 30.2% on a comparative quarter basis, and increased from 29.1% to 31.6% for the comparative fiscal year.

 

    Diluted earnings per share from continuing operations increased from $0.28 to $0.32 on a comparative quarter basis, and increased from $1.03 to $1.29 for the comparative fiscal year, an increase of 14.3% for the quarter and 25.2% for the fiscal year.

Financial Overview

The financial overview includes only the Company’s continuing print operations. The Company sold Alstyle Apparel on May 25, 2016, resulting in the apparel division being classified as discontinued operations and the print division remaining as the continuing operations of the Company.

Continuing Operations

The Company’s revenues for the fourth quarter ended February 28, 2018 were $87.1 million compared to $86.6 million for the same quarter last year, an increase of 0.6%. Gross profit margin (“margin”) was $26.3 million for the quarter, or 30.2%, as compared to $24.9 million, or 28.8% for the fourth quarter last year. Net earnings from continuing operations for the quarter were $8.2 million, or $0.32 per diluted share compared to $7.2 million, or $0.28 per diluted share for the fourth quarter last year. The enactment of the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) on December 22, 2017 reduced the Company’s deferred tax expense and positively impacted our operating results by $3.6 million. In addition, due to the benefits of the Tax Act and the Company’s strong performance, the Company approved special and performance based bonuses, which negatively impacted the Company’s operating results by $1.4 million compared to the same quarter last year.

The Company’s revenues for the fiscal year ended February 28, 2018 were $370.2 million compared to $356.9 million for the same period last year, an increase of 3.7%. Margin was $116.9 million, or 31.6%, as compared to $104.0 million, or 29.1% for the fiscal years ended February 28, 2018 and February 28, 2017, respectively. Earnings from continuing operations for the fiscal year ended February 28, 2018 were $32.8 million, or $1.29 per diluted share compared to $26.4 million, or $1.03 per diluted share for the fiscal year ended February 28, 2017. For fiscal year 2017, the Company’s net earnings from continuing operations were negatively impacted by relocation and start-up costs of a folder operating company and higher than historical medical expenses of approximately $3.5 million, or $0.13 per diluted share. As noted above, the Company’s fiscal year 2018 earnings from continuing operations were positively impacted by the Tax Act by $3.6 million. This benefit was reduced by approximately $0.7 million due to a special bonus the Company elected to pay to its non-management level employees as a result of the tax savings it received from the Tax Act and $0.7 million due to the additional performance bonus.

 

1


The following information was filed by Ennis, Inc. (EBF) on Wednesday, April 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Ennis, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Ennis, Inc..

Continue

Assess how Ennis, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Ennis, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Accounts Receivable And Allowance For Doubtful Receivables
Accounts Receivable And Allowance For Doubtful Receivables (tables)
Accounts Receivable And Allowance For Doubtful Receivables - Allowance For Doubtful Receivables (detail)
Acquisitions
Acquisitions (tables)
Acquisitions - Additional Information (detail)
Acquisitions - Summary Of Final Purchase Price Allocation (detail)
Acquisitions - Summary Of Operating Information On Pro Forma Basis (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Schedule Of Future Minimum Lease Commitments Under Non-cancelable Operating Leases (detail)
Concentrations Of Risk
Concentrations Of Risk - Additional Information (detail)
Discontinued Operations
Discontinued Operations (tables)
Discontinued Operations - Additional Information (detail)
Discontinued Operations - Schedule Of Discontinued Operations Related To The Apparel Segment (detail)
Discontinued Operations - Schedule Of Discontinued Operations Related To The Apparel Segment (parenthetical) (detail)
Earnings Per Share
Earnings Per Share (tables)
Earnings Per Share - Additional Information (detail)
Earnings Per Share - Computation For Basic And Diluted Earnings (loss) Per Share (detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets - Additional Information (detail)
Goodwill And Other Intangible Assets - Carrying Amount And Accumulated Amortization Of Intangible Assets (detail)
Goodwill And Other Intangible Assets - Changes In Net Carrying Amount Of Goodwill (detail)
Goodwill And Other Intangible Assets - Estimated Amortization Expense (detail)
Goodwill And Other Intangible Assets - Non-amortizing Intangible Assets (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Components Of Deferred Income Tax Assets And Liabilities (detail)
Income Taxes - Components Of Provision For Income Taxes (detail)
Income Taxes - Reconciliation Of Change In Unrecognized Tax Benefits (detail)
Income Taxes - Statutory U.s. Federal Income Tax Rate To Company's Effective Tax Rate (detail)
Inventories
Inventories (tables)
Inventories - Additional Information (detail)
Inventories - Components Of Inventories (detail)
Long-term Debt
Long-term Debt (tables)
Long-term Debt - Additional Information (detail)
Long-term Debt - Summary Of Long-term Debt (detail)
Other Accrued Expenses
Other Accrued Expenses (tables)
Other Accrued Expenses - Components Of Other Accrued Expenses (detail)
Pension Plan And Other Employee Benefits
Pension Plan And Other Employee Benefits (tables)
Pension Plan And Other Employee Benefits - Additional Information (detail)
Pension Plan And Other Employee Benefits - Company's Pension Plan Asset Allocation, By Asset Category (detail)
Pension Plan And Other Employee Benefits - Company's Target Asset Allocation Percentage, By Asset Class (detail)
Pension Plan And Other Employee Benefits - Plan's Fair Value Hierarchy For Assets Measured At Fair Value (detail)
Pension Plan And Other Employee Benefits - Schedule Of Accumulated Benefit Obligation, Change In Pbo, Change In Plan Assets, Funded Status, And Reconciliation To Amounts Recognized In Consolidated Balance Sheets (detail)
Pension Plan And Other Employee Benefits - Schedule Of Assumptions Used To Determine Benefit Obligations And Net Periodic Pension Cost (detail)
Pension Plan And Other Employee Benefits - Schedule Of Estimated Future Benefit Payments Which Reflect Expected Future Service (detail)
Pension Plan And Other Employee Benefits - Summary Of Pension Expense Composed Of Components Included In Cost Of Goods Sold And Selling, General And Administrative Expenses (detail)
Quarterly Consolidated Financial Information (unaudited)
Quarterly Consolidated Financial Information (unaudited) (tables)
Quarterly Consolidated Financial Information (unaudited) - Schedule Of Unaudited Quarterly Financial Data Of Company (detail)
Shareholders' Equity
Shareholders' Equity - Additional Information (detail)
Significant Accounting Policies And General Matters
Significant Accounting Policies And General Matters (policies)
Significant Accounting Policies And General Matters - Additional Information (detail)
Stock Option Plan And Stock Based Compensation
Stock Option Plan And Stock Based Compensation (tables)
Stock Option Plan And Stock Based Compensation - Additional Information (detail)
Stock Option Plan And Stock Based Compensation - Restricted Stock Grants Activity (detail)
Stock Option Plan And Stock Based Compensation - Stock Option Activity (detail)
Stock Option Plan And Stock Based Compensation - Summary Of Assumptions Used And Weighted Average Grant-date Fair Value Of Stock Options Granted (detail)
Stock Option Plan And Stock Based Compensation - Summary Of Stock Options Exercised And Tax Benefits Realized From Stock Based Compensation (detail)
Stock Option Plan And Stock Based Compensation - Summary Of Stock Options Outstanding (detail)
Stock Option Plan And Stock Based Compensation - Summary Of Unvested Stock Options (detail)
Subsequent Events
Subsequent Events - Additional Information (detail)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (tables)
Supplemental Cash Flow Information - Net Cash Flows From Operating Activities Reflect Cash Payments For Interest And Income Taxes (detail)
Ticker: EBF
CIK: 33002
Form Type: 10-K Annual Report
Accession Number: 0001564590-18-013187
Submitted to the SEC: Fri May 11 2018 2:43:49 PM EST
Accepted by the SEC: Fri May 11 2018
Period: Wednesday, February 28, 2018
Industry: Manifold Business Forms

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/ebf/0001564590-18-013187.htm