In This Story
Ennis Inc. (EBF-0.27%) has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing reports net sales of $99.8 million for the quarter, a decrease from $104.6 million in the same quarter the previous year. The decline is attributed to weaker volume demand and increased competition.
Cost of goods sold for the quarter was $70.5 million, representing 70.7% of sales, compared to 70.8% in the same quarter of the previous year. Gross profit margin remained stable at 29.3%.
Selling, general, and administrative expenses decreased to $16.3 million from $17.4 million, reflecting operational efficiencies.
Net earnings for the quarter were $10.2 million, slightly up from $9.9 million in the previous year. Earnings per diluted share were $0.39, compared to $0.38 in the same quarter last year.
Cash provided by operating activities was $53.1 million for the nine-month period ended November 30, 2024. Cash used in financing activities increased due to a special dividend payment.
Ennis Inc. reported a decrease in working capital to $120.1 million from $167.6 million at the end of the previous fiscal year, primarily due to dividend payments.
The company did not report any significant changes in its risk factors or legal proceedings that would impact its financial position.
Ennis Inc. continues to focus on managing costs and maintaining margins amidst competitive market conditions and evolving customer demands.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Ennis Inc. quarterly 10-Q report dated January 7, 2025. To report an error, please email earnings@qz.com.