Computeruser.com
Latest News

Consolidated Graphics Reports Financial Results For The Quarter Ended December 2010

HOUSTON Feb. 1, 2011 Consolidated Graphics, Inc. December 31, 2010

$299.1 million December 2010 $30.2 million December 2010 $18.7 million $1.60 $47.2 million December 2010

$28.2 million December 2010 December 2010 $17.6 million $1.50

Joe R. Davis $30.2 million

$245 – $260 million March 2011

Stock Repurchase Program

November 2010 $50 million $13.2 million

A reconciliation of the non-GAAP financial measures, Adjusted EBITDA, Free Cash Flow, Adjusted Operating Income, Adjusted Operating Margin, Adjusted Net Income and Adjusted Diluted Earnings Per Share to the most directly comparable GAAP financial measures are included in the attached tables and in the Current Report on Form 8-K filed today with the Securities and Exchange Commission. The Form 8-K also includes the basis for management’s use of these non-GAAP financial measures.

Wednesday, February 2, 2011 11:00 a.m. Eastern Time www.cgx.com

Houston, Texas North America Toronto Prague Asia

North America www.cgx.com

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in which the Company discusses factors it believes may affect its performance or results in the future. Forward-looking statements are all statements other than historical facts, such as statements regarding assumptions, expectations, beliefs and projections about future events or conditions. You can generally identify forward-looking statements by the appearance in such a statement of words like "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "forecast," "project," "should" or "will" or other comparable words or the negative of such words. The accuracy of the Company’s assumptions, expectations, beliefs and projections depends on events or conditions that change over time and are thus susceptible to change based on actual experience, new developments and known and unknown risks, including those created by general market conditions, competition and the possibility that events may occur beyond the Company’s control, which may limit its ability to maintain or improve its operating results or financial condition or acquire additional printing businesses. The Company gives no assurance that the forward-looking statements will prove to be correct and does not undertake any duty to update them. The Company’s actual future results might differ from the forward-looking statements made in this press release for a variety of reasons, which include weakness in the economy, financial stability of its customers, the sustained growth of its digital printing business, seasonality of election-related business, its ability to adequately manage business expenses, including labor costs, the unfavorable outcome of legal proceedings, the lack of or adequacy of insurance coverage for its operations, the continued availability of raw materials at affordable prices, retention of its key management and operating personnel, satisfactory labor relations, the potential for additional goodwill impairment charges, its ability to identify new acquisition opportunities, negotiate and finance such acquisitions on acceptable terms and successfully absorb and manage such acquisitions in a timely and efficient manner, as well as other risks described under the heading "Risk Factors" of our Annual Report on Form 10-K and the risk factors and cautionary statements described in the other documents the Company files or furnishes from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Should one or more of the foregoing risks or uncertainties materialize, or should the Company’s underlying assumptions, expectations, beliefs or projections  prove incorrect, the Company’s actual results may vary materially from those anticipated in its forward-looking statements, and its business, financial condition and results of operations could be materially and adversely affected.

Regulation G Reconciliation

This press release also contains references to the non-GAAP financial measures of Adjusted EBITDA, which we define as earnings, or net income, before interest, income taxes, depreciation and amortization, goodwill impairment charges, litigation and other charges, share-based compensation expense, non-cash foreign currency transaction gains and losses and net losses/gains from asset dispositions, Free Cash Flow, which we define as net cash provided by operating activities less capital expenditures plus proceeds from assets dispositions, Adjusted Operating Income, which we define as operating income before goodwill charges, litigation and other charges, share-based compensation expense, and non-cash foreign currency translation net (gain)/loss, Adjusted Operating Margin, which we define as Adjusted Operating Income divided by sales, Adjusted Net Income, which we define as net income before goodwill charges, litigation and other charges, share-based compensation expense,  non-cash foreign currency transaction net (gain)/loss, all net of tax, and Adjusted Diluted Earnings Per Share, which we define as Adjusted Net Income divided by diluted weighted average number of common shares outstanding. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are provided in the tables below. Management’s opinion regarding the usefulness of these non-GAAP financial measures to investors and a description of the ways in which management used such measures can be found in the Current Report on Form 8-K we filed today with the Securities and Exchange Commission.

(Tables to follow)

CONSOLIDATED GRAPHICS, INC.

Condensed Consolidated Income Statements

(In thousands, except per share amounts, and unaudited)

Three Months Ended

Nine Months Ended

December 31,

December 31,

2010

2009

Change

2010

2009

Change

$

%

$

%

Sales

$299,111

$276,374

22,737

8

$795,934

$753,861

42,073

6

Cost of Sales

222,297

209,770

12,527

6

602,515

586,985

15,530

3

Gross Profit

76,814

66,604

10,210

15

193,419

166,876

26,543

16

Selling Expenses

23,471

22,678

793

3

69,078

69,053

25

General and Administrative Expenses (1)

23,973

22,117

1,856

8

70,071

65,756

4,315

7

Litigation and Other Charges

991

3,138

(2,147)

(68)

(2,475)

5,771

(8,246)

(143)

Other Expense

138

48

90

188

195

212

(17

(8)

Operating Income

28,241

18,623

9,618

52

56,550

26,084

30,466

117

Interest Expense, net

1,805

2,616

(811)

(31)

5,904

7,447

(1,543)

(21)

Income before Taxes

26,436

16,007

10,429

65

50,646

18,637

32,009

172

Income Taxes

8,867

4,568

4,299

94

18,182

5,430

12,752

235

Net Income

$17,569

$11,439

6,130

54

$32,464

$13,207

19,257

146

Earnings Per Share

Basic

$1.53

$1.02

$2.83

$1.18

Diluted

$1.50

$1.00

$2.79

$1.16

Weighted Average Shares Outstanding

Basic

11,482

11,164

11,452

11,162

Diluted

11,694

11,458

11,655

11,390

Effective Income Tax Rate

33.5%

28.5%

35.9%

29.1%

(1) Share based compensation included

   in these expenses

$798

$1,196

$2,573

$3,949

CONSOLIDATED GRAPHICS, INC.

Condensed Consolidated Balance Sheets

(In thousands, except share and per share amounts, and unaudited)

December 31,

2010

March 31,
2010

ASSETS

CURRENT ASSETS

Cash and cash equivalents

$

5,532

$

6,741

Accounts receivable, net

196,989

169,915

Inventories

53,644

48,879

Prepaid expenses

10,219

9,316

Deferred income taxes

13,768

17,294

Total current assets

280,152

252,145

PROPERTY AND EQUIPMENT, net

389,543

380,708

GOODWILL

25,512

Leave a comment

seks shop - izolasyon
basic theory test book basic theory test