-----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, M/qZSHWJ9jR+WJ5MQJsC6q65yTHQx1bU0LqGlUBSMsHabpsltnoOlReoNFDZZh9i sg/ih+zvNwf/jl7t6glJAQ== 0000890566-97-000131.txt : 19970130 0000890566-97-000131.hdr.sgml : 19970130 ACCESSION NUMBER: 0000890566-97-000131 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970129 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970129 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: 97513712 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): JANUARY 29, 1997 CONSOLIDATED GRAPHICS, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) TEXAS 0-24068 (STATE OR OTHER JURISDICTION (COMMISSION FILE NUMBER) OF INCORPORATION) 76-0190827 (I.R.S. EMPLOYER 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 January 29, 1997, Consolidated Graphics, Inc. (the "Company") announced its third quarter results for the quarterly period ended December 31, 1996. 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 preclude completion of the Company's future acquisitions. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (A) EXHIBITS The following exhibit is filed herewith: 99 Press release of Consolidated Graphics, Inc. dated January 29, 1997 with respect to the announcement of the Company's third 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: January 29, 1997 2 EX-99 2 EXHIBIT 99 APPROVED BY: Ronald E. Hale, Jr. Vice President (713) 529-4200 CONTACT: Betsy Brod/Jeff Majtyka Media: Stan Froelich Morgen-Walke Associates, Inc. (212) 850-5600 CONSOLIDATED GRAPHICS REPORTS THIRD CONSECUTIVE QUARTER OF RECORD EARNINGS HOUSTON, TEXAS -- January 29, 1997 -- Consolidated Graphics, Inc. (NYSE/CGX) today announced record earnings and sales for the third quarter ended December 31, 1996. The Company reported earnings of $2.8 million, or $.22 per share, for the third quarter of 1997, up 120% from the $1.3 million before restructuring charge reported in the corresponding quarter of 1996. Sales revenues increased 72% to an all-time high of $38.2 million from $22.3 million in the previous year. Commenting on the third consecutive quarter of record earnings, Joe R. Davis, Chairman and Chief Executive Officer said: "We are very pleased to report another quarter of record sales and earnings on our first day of trading on the New York Stock Exchange. We continue to execute our growth strategy with the addition of nine new printing companies since January 1, 1996. Equally important, however, is the success we are having at operating our companies. The increase in our overall operating margins is strong evidence that our operating strategies continue to be effective with all our companies producing more efficiently and more profitably." Mr. Davis added, "Our Company has become the recognized leader in printing industry consolidation, and the pipeline for future acquisition opportunities remains full. With the strength of our balance sheet, we are well positioned to go forward with our strategy of acquisition and growth." For the nine months ended December 31, 1996, the Company reported net income of $6.9 million, or $.56 per share, up 82% from the $3.8 million before restructuring charge reported for the corresponding nine months of the prior year. Sales for the first nine months of 1997 increased 65% to $100.9 million, compared to the $61.0 million reported in 1996. Consolidated Graphics, Inc. is one of the fastest growing printing companies in the United States. It is a consolidator in a fragmented industry, adding value to its acquisitions by providing the financial and operational strengths, management support and technological advantages associated with a larger organization. The Company has 18 printing companies operating in 14 markets. -- Table to Follow -- CONSOLIDATED GRAPHICS (NYSE: CGX) INCOME STATEMENTS (IN THOUSANDS, EXCEPT PER SHARE DATA)
QUARTER ENDED NINE MONTHS ENDED DECEMBER 31, DECEMBER 31, ------------------------------ ------------------------------ 1996 1995 1996 1995 -------------- -------------- -------------- -------------- Sales................................ $ 38,186 $ 22,255 $ 100,895 $ 61,041 Cost of sales........................ 26,391 16,117 70,421 43,796 -------------- -------------- -------------- -------------- GROSS PROFIT.................... 11,795 6,138 30,474 17,245 Selling expenses..................... 3,754 2,138 10,012 6,021 General and administrative expenses........................... 2,966 1,810 7,980 4,814 Restructuring charge................. -- 1,500 -- 1,500 -------------- -------------- -------------- -------------- OPERATING INCOME................ 5,075 690 12,482 4,910 Interest expense..................... 643 236 1,577 594 -------------- -------------- -------------- -------------- INCOME BEFORE INCOME TAXES...... 4,432 454 10,905 4,316 Income taxes......................... 1,640 160 4,008 1,511 -------------- -------------- -------------- -------------- NET INCOME...................... $ 2,792 $ 294 $ 6,897 $ 2,805 ============== ============== ============== ============== Fully diluted earnings per share..... $ 0.22 $ 0.03 $ 0.56 $ 0.26 ============== ============== ============== ============== Weighted average shares outstanding........................ 12,730,040 10,984,806 12,234,351 10,956,516 ============== ============== ============== ==============
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