Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Consolidated Graphics Profit Tops Estimate; Stock Up - Update

Commercial printing service provider Consolidated Graphics Inc. (CGX: Quote), 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%.

Register
To receive FREE breaking news email alerts for Consolidated Graphics Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The United Nations Security Council (UNSC) on Thursday declared the ongoing Ebola outbreak in West Africa "a threat to international peace and security." Notably, the declaration was made in the Council's first emergency meeting on a public health issue. The fifteen-member Council also unanimously... Oracle Corp. said Thursday after the markets closed that its first quarter profit fell slightly from last year, hurt mainly by higher income tax expenses even as revenue increased 3%. The company's quarterly earnings per share, excluding items, also came in below analysts' expectations as did its quarterly revenue. After ending the previous session mostly higher following the Federal Reserve's monetary policy announcement, stocks saw further upside during trading on Thursday. The gains on the day lifted the Dow and the S&P 500 to new record closing highs.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.