-----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, E57h8B9JnkPfKjyQJpldu+eO6TWvFx88U5s1uQ8vb/2bQ7tnZmr6gWUbazjeQ963 GdxD7gEVJ/KgJEITN9TBjQ== 0000890566-01-000049.txt : 20010125 0000890566-01-000049.hdr.sgml : 20010125 ACCESSION NUMBER: 0000890566-01-000049 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010124 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010124 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: SEC FILE NUMBER: 001-12631 FILM NUMBER: 1514171 BUSINESS ADDRESS: STREET 1: 5858 WESTHEIMER STE 200 CITY: HOUSTON STATE: TX ZIP: 77057 BUSINESS PHONE: 7137870977 MAIL ADDRESS: STREET 1: 5858 WESTHEIMER STE 200 CITY: HOUSTON STATE: TX ZIP: 77057 8-K 1 0001.txt 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): JANUARY 24, 2001 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.) 5858 WESTHEIMER, SUITE 200 HOUSTON, TEXAS 77057 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES AND ZIP CODE) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (713) 787-0977 ITEM 5. OTHER EVENTS On January 24, 2001, Consolidated Graphics, Inc. (the "Company") announced the results of its fiscal 2001 third quarter. A copy of the press release is attached hereto as Exhibit 99.1. The attached press release may contain forward-looking information. Readers are cautioned that such information involves known and unknown risks, uncertainties and other factors that could cause actual results to materially differ from the results, performance or other expectations implied by these forward looking statements. ITEM 7. FINANCIAL STATEMENTS AND EXHIBIT (A) EXHIBIT The following exhibit is filed herewith: 99.1 Press release of the Company dated January 24, 2001, related to the announcement of the Company's fiscal 2001 third quarter results. 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/ Joe R. Davis JOE R. DAVIS CHAIRMAN AND CHIEF EXECUTIVE OFFICER Date: January 24, 2001 2 EX-99.1 2 0002.txt EXHIBIT 99.1 FOR: Consolidated Graphics, Inc. CONTACT: Wayne M. Rose Chief Financial Officer Consolidated Graphics, Inc. (713) 339-5756 Betsy Brod/Karen Pagonis Media: Steve DiMattia Morgen-Walke Associates, Inc. (212) 850-5600 FOR IMMEDIATE RELEASE CONSOLIDATED GRAPHICS REPORTS THIRD QUARTER RESULTS HOUSTON, TEXAS -January 24, 2001-Consolidated Graphics, Inc. (NYSE:CGX) today announced final results for the third quarter ended December 31, 2000. As previously announced, third quarter financial results were affected by softness in the general economy and print markets in particular. Sales for the third quarter increased 8% over the prior year to $171.2 million. Sales for the first nine months of this fiscal year grew 13% to $517.2 million. However, operating margins decreased to 8.4%, down from 11.5% in the third quarter last year. Operating income and net income for the quarter were $14.3 million and $5.5 million, respectively, compared to $18.2 million and $8.9 million in the prior year. Diluted earnings per share were $.42 for the third quarter, compared to $.56 in the same period last year. "Even though soft print market conditions during the holiday period forced us to price aggressively and protect market share, we remain optimistic about our long-term prospects for the Company," stated Joe R. Davis, Chairman and Chief Executive Officer. "The Company will take appropriate actions in response to this challenge." "As we discussed last week, we are preparing plans to adjust to these market conditions," commented Charles F. White, President and Chief Operating Officer. "Additionally, consolidation within our organization may be required at certain of our companies, in a few of our markets, and we are developing plans to implement those actions where necessary. We remain confident that strategies already in place for national account sales, for marketing of e-commerce products and services, and for management development should enhance our revenue base and lead to profitable growth." Mr. Davis concluded, "Given current market conditions and in light of our initiatives already underway, we believe that our financial results for the next few quarters will improve gradually over recent performance. We intend to streamline our operations and infrastructure over the next few quarters so that we can capitalize on future opportunities." CONSOLIDATED GRAPHICS REPORTS THIRD QUARTER RESULTS PAGE 2 Consolidated Graphics, Inc. is the largest sheet-fed and half-web commercial printing company in the United States. Through its network of locally managed printing companies in 25 states, the Company produces high-quality customized printed materials for a broad customer base that includes many of the most recognized companies in the country. Consolidated Graphics also offers an extensive and growing range of digital and Internet-based services and solutions marketed through CGXmedia. Consolidated Graphics is focused on adding value to its operating companies by providing financial and operational strengths, management support and technological advantages associated with a national organization. For more information, visit the Company's Web site at www.consolidatedgraphics.com. This press release contains forward-looking statements, which involve known and unknown risks, uncertainties or other factors that could cause actual results to materially differ from the results, performance or other expectations implied by these forward-looking statements. Consolidated Graphics' expectations regarding future sales and profitability assume, among other things, stability in the economy and reasonable growth in the demand for its products, the continued availability of raw materials at affordable prices, retention of its key management and operating personnel, as well as other factors detailed in Consolidated Graphics' filings with the Securities and Exchange Commission. The forward-looking statements, assumptions and factors stated or referred to in this press release are based on information available to Consolidated Graphics today. Consolidated Graphics expressly disclaims any duty to provide updates to these forward-looking statements, assumptions and other factors after the day of this release to reflect the occurrence of events or circumstances or changes in expectations. (Table Follows) CONSOLIDATED GRAPHICS, INC. Consolidated Income Statement (In thousands, except per share amounts)
THREE MONTHS ENDED NINE MONTHS ENDED DECEMBER 31, DECEMBER 31, --------------------- --------------------- 2000 1999 2000 1999 --------- --------- --------- --------- Sales $ 171,211 $ 158,408 $ 517,200 $ 457,123 Cost of Sales 125,594 112,195 372,896 317,641 GROSS PROFIT 45,617 46,213 144,304 139,482 Selling Expense 17,649 15,516 52,280 44,427 General and Administrative Expense 13,663 12,450 41,026 35,367 OPERATING INCOME 14,305 18,247 50,998 59,688 Interest Expense 5,145 3,486 15,254 9,168 Pretax Income 9,160 14,761 35,744 50,520 Income Taxes 3,664 5,906 14,298 20,208 NET INCOME $ 5,496 $ 8,855 $ 21,446 $ 30,312 Earnings Per Share - Basic $ .42 $ .56 $ 1.62 $ 1.96 Earnings Per Share - Diluted $ .42 $ .56 $ 1.62 $ 1.93 Weighted Average Shares Outstanding - Basic 13,026 15,691 13,259 15,473 Weighted Average Shares Outstanding - Diluted 13,031 15,836 13,267 15,675
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