-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QlJGomKIB4BugsIAyBX00MuPyPHrGKNkFHlXNptbM1jObd9iBa2K8QCJiZmqUGyv WaaKqOZJ++kJx82aE+rSLw== 0000890566-97-001686.txt : 19970731 0000890566-97-001686.hdr.sgml : 19970731 ACCESSION NUMBER: 0000890566-97-001686 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970730 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970730 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONSOLIDATED GRAPHICS INC /TX/ CENTRAL INDEX KEY: 0000921500 STANDARD INDUSTRIAL CLASSIFICATION: COMMERCIAL PRINTING [2750] IRS NUMBER: 760190827 STATE OF INCORPORATION: TX FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12631 FILM NUMBER: 97648384 BUSINESS ADDRESS: STREET 1: 2210 W DALLAS ST CITY: HOUSTON STATE: TX ZIP: 77019 BUSINESS PHONE: 7135294200 8-K 1 ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------------ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JULY 30, 1997 CONSOLIDATED GRAPHICS, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) TEXAS 0-24068 76-0190827 (STATE OR OTHER JURISDICTION (COMMISSION FILE NUMBER) (I.R.S. EMPLOYER OF INCORPORATION) IDENTIFICATION NO.) 2210 WEST DALLAS STREET HOUSTON, TEXAS 77019 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES AND ZIP CODE) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (713) 529-4200 ================================================================================ ITEM 5. OTHER EVENTS On July 30, 1997, Consolidated Graphics, Inc. (the "Company") announced its fiscal 1998 first quarter results. A copy of the press release is attached hereto as Exhibit 99. The attached press release may contain forward looking information. Readers are cautioned that such information involves risks and uncertainties, including the possibility that events may occur which would prevent the Company from achieving comparable financial results in the future or completing its pending or future acquisitions. ITEM 7. FINANCIAL STATEMENTS AND EXHIBIT (A) EXHIBIT The following exhibit is filed herewith: 99 Press release of Consolidated Graphics, Inc. dated July 30, 1997, with respect to the announcement of the Company's fiscal 1998 first quarter results. 1 SIGNATURE PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED HEREUNTO DULY AUTHORIZED. CONSOLIDATED GRAPHICS, INC. (Registrant) By: /s/ G. CHRISTOPHER COLVILLE G. CHRISTOPHER COLVILLE VICE PRESIDENT -- MERGERS AND ACQUISITIONS CHIEF FINANCIAL AND ACCOUNTING OFFICER Date: July 30, 1997 2 EX-99 2 EXHIBIT 99 FOR: Consolidated Graphics, Inc. APPROVED BY: Ronald E. Hale, Jr. Vice President & Treasurer (713) 529-4200 CONTACT: Betsy Brod/Nancy Healy Media: Stan Froelich Morgen-Walke Associates, Inc. (212) 850-5600 FOR IMMEDIATE RELEASE CONSOLIDATED GRAPHICS REPORTS RECORD RESULTS FOR FISCAL 1998 FIRST QUARTER - - Sales Rise 79% in Fifth Consecutive Quarter of Record Financial Performance - HOUSTON, TEXAS -- July 30, 1997 -- Consolidated Graphics, Inc. (NYSE:CGX) today announced record results for the first quarter ended June 30, 1997. Sales in the fiscal 1998 first quarter rose 79% to $50.7 million from $28.3 million in the comparable period of fiscal 1997. First quarter operating income increased 141% to $7.1 million, and net income grew 131% to $3.9 million, versus year-ago results. On a per share basis, Consolidated Graphics earned $.30 in the fiscal 1998 quarter, compared to $.14 per share in the fiscal 1997 period. All per share figures reflect the Company's 2-for-1 stock split distributed in January 1997. The strong sales and earnings performance was driven by the Company's acquisition program, internal growth and further improvements in the operations of its printing companies. Operating income margin for the fiscal 1998 first quarter was 14.0%, up from 10.4% in the year ago period, and up sequentially from the 13.5% reported in the fourth quarter of fiscal 1997. Joe R. Davis, Chairman and Chief Executive Officer of Consolidated Graphics, commented, "The recent three-month period represents our fifth consecutive quarter of record sales and earnings. The continued operating income margin improvements in the first quarter demonstrate our ability to control costs through both our increased purchasing power and improved operating efficiencies of our acquired businesses." - more - CONSOLIDATED GRAPHICS FISCAL 1998 FIRST QUARTER RESULTS - 2 - "Since the beginning of fiscal 1998, we have acquired two printing companies, --Tucker Printers, Rochester, New York and The Etheridge Company, Grand Rapids, Michigan, and have agreed to acquire four others -- Georges & Shapiro Lithograph, Sacramento; Austin Printing, Atlanta; Walnut Circle Press, Greensboro; and Geyer Printing, Pittsburgh. These companies, representing over $50 million in revenue, fit our strategy of acquiring strong companies with solid positions in the markets they serve. Including these pending acquisitions, we will own 24 printing companies in 19 markets with annualized revenues now exceeding $240 million." Mr. Davis concluded, "While our acquisition program is proceeding well ahead of plan in fiscal 1998, we continue to see additional acquisition opportunities. With a strong balance sheet and our recently announced $100 million bank line of credit, Consolidated Graphics is well-positioned to pursue these growth opportunities." Consolidated Graphics, Inc. is recognized as the fastest growing printing company in the United States. A consolidator in a highly fragmented industry, the Company adds value to its acquisitions through managerial and operational expertise, financial strength and economies of scale. --Table to Follow-- CONSOLIDATED GRAPHICS (NYSE: CGX) Financial Highlights (in thousands, except per share amounts) For the Three Months Ended June 30, 1997 1996 Sales $50,675 $28,258 Cost of sales 34,745 20,166 GROSS PROFIT 15,930 8,092 Selling expenses 4,931 2,848 General and administrative expenses 3,880 2,292 OPERATING INCOME 7,119 2,952 Interest expense 894 339 Pretax Income 6,225 2,613 Income taxes 2,365 940 NET INCOME $ 3,860 $ 1,673 Earnings per share $ .30 $ .14 Weighted average shares outstanding 12,949 11,860 # # # -----END PRIVACY-ENHANCED MESSAGE-----