Big Profit Jump for Consolidated Graphics
-- Graphic Arts Online, 5/7/2008 12:13:00 PM
Consolidated Graphics, Houston, reported a Q4 profit jump of 89% on revenues of $287.5 million (up 9%), as gains from acquisitions lifted the printing company’s results. Profits soared to $13.1 million, up from $6.9 million in the prior year’s quarter.Excluding an impairment charge of $7.8 million, in the year-ago quarter, profit for the March 2007 period would have been $14.8 million, reports the company.
In March, Consolidated Graphics said it bought Durham, N.C.-based commercial printing and packaging company PBM Graphics Inc. for an undisclosed sum. The deal is one of the company’s largest to date, says Joe Davis, chairman and CEO.
For the full year, profit rose to $59.3 million from $50.7 million in the prior year.
Sales for 2007 rose nearly 9% to $1.1 billion from $1 billion.
“Acquisitions as well as continued growth in strategic sales allowed us to post solid annual revenue growth,” says Joe Davis, chairman and CEO. “Our acquisition pipeline remains sizable today.”
The company also reported that it continued to invest in digital presses during the quarter. So far in 2008, the company reports capital expenditures were $82.4 million, with digital press investments representing 26% of the total.
Talkback
Related Content
Sponsored Links
