Wed, Jun 26, 7:54 PM (73 days ago)
Ennis, Inc. reported a decrease in net sales to $103.1 million for Q1 2024, down 7.4% from $111.3 million in Q1 2023, primarily due to weakened demand and increased price competition. Cost of goods sold decreased by 6.6% to $72.2 million, maintaining a gross profit margin at 30.0%. SG&A expenses were $17.2 million, a 6.0% reduction from the prior year, keeping the percentage of net sales relatively flat. Net earnings were $10.7 million, down from $11.6 million, with EPS at $0.41. Cash flow from operations increased to $23.1 million, with $91.4 million in cash and $32.3 million in short-term investments, indicating strong liquidity to cover future operations and capital requirements.