logo
Share SHARE
FONT-SIZE Plus   Neg

Consolidated Graphics Profit Tops Estimate; Stock Up - Update

Commercial printing service provider Consolidated Graphics Inc. (CGX), Wednesday reported a higher third-quarter profit, helped by increase in digital print revenues and election-related income. As well, both quarterly earnings and revenue came in ahead of Street analysts' estimates.

Moving forward, the company said prospects for the future appear bright. Shares of Consolidated Graphics gained about six percent in morning trade on the New York Stock Exchange.

Houston, Texas-based Consolidated Graphics reported third-quarter net income of $16 million or $1.68 per share, compared with $10.8 million or $1.04 per share last year.

Excluding items, adjusted earnings for the quarter were $16.9 million or $1.75 per share, compared with $12.7 million or$1.22 per share in the prior year.

On average, 3 analysts polled by Thomson Reuters expected earnings of $1.18 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter rose 4 percent to $295 million from $284 million in the prior year. Analysts on consensus estimated revenues of $289.45 million for the quarter.

Digital print revenue for the quarter climbed 3.6 percent, even as the company benefited from robust election-related sales.

Adjusted operating margin for the quarter improved to 8.2 percent from 7.3 percent a year ago.

CGX is trading at $38.75, up $2.15 or 5.87%.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Discount-store operator Target, Inc. on Tuesday reported a 43 percent decline in profit in the fourth quarter from last year, reflecting lower sales and weaker margins. In addition, the prior-year period's results included a one-time gain. Adjusted earnings per share for the latest quarter missed analysts' expectations. Grocery store chain Trader Joe's has voluntarily recalled three of the brand's unsweetened apple sauce products, because of the potential presence of glass pieces in the jars. The recalled products include Trader Joe's First Crush Unsweetened Gravenstein Apple Sauce and Organic Unsweetened Apple Sauce sold in all stores. The company has about 460 stores in nearly 40 states. Amazon-owned Twitch plans to start selling game downloads from players' live broadcasts. The platform will allow its around 17,000 game-broadcasting partners to sell games and in-game content directly from their pages when they are live-streaming gameplay, starting this spring.
comments powered by Disqus
Follow RTT