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
Japanese electronics maker Panasonic Corp. is in talks to buy Austrian headlight manufacturer ZKW Group GmbH, Nikkei business daily reported Monday, citing a person familiar with the matter. As per the report, both companies could reach a basic agreement as early as this month for a deal that could be worth up to $1 billion. Netflix offers a bunch of popular movies, Netflix originals, new TV shows, and documentaries in the month of December 2016, including the second season of the hit sitcom 'Fuller House' and 2016 blockbuster 'Captain America: Civil War', as all are getting ready for the holidays. SpaceX, the space transport company of Tech entrepreneur Elon Musk, is likely to launch its first Falcon 9 rocket since September's launchpad explosion on December 16. SpaceX's satellite launch customer Iridium Communications Inc. announced Thursday that its next-generation global satellite constellation, Iridium NEXT, will be launched on SpaceX's Falcon 9 rocket.
comments powered by Disqus
Follow RTT