-----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, NOSEo74mKizrIAKsIxIfFmTPjxIVh5A1yFPWS0f3ocP6V+v3ZdyKXDMqxEonffmY yak+lgqCXq7IUVTXuOosvw== 0000890566-99-001367.txt : 19991028 0000890566-99-001367.hdr.sgml : 19991028 ACCESSION NUMBER: 0000890566-99-001367 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991027 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991027 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: 99735451 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 ================================================================================ 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): OCTOBER 27, 1999 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 October 27, 1999, Consolidated Graphics, Inc. (the "Company") announced the results of its fiscal 2000 second 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 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: 99.1 Press release of the Company dated October 27, 1999, related to the announcement of the Company's fiscal 2000 second 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/ G. CHRISTOPHER COLVILLE G. Christopher Colville EXECUTIVE VICE PRESIDENT- MERGERS & ACQUISITIONS CHIEF FINANCIAL AND ACCOUNTING OFFICER Date: October 27, 1999 2 EX-99.1 2 EXHIBIT 99.1 FOR: Consolidated Graphics, Inc. CONTACT: Ronald E. Hale, Jr. Consolidated Graphics, Inc. Vice President & Treasurer (713) 787-0977 Betsy Brod/Jonathan Schaffer Media:Merredith Ingram/Jennifer Kirksey Morgen-Walke Associates, Inc. (212) 850-5600 FOR IMMEDIATE RELEASE CONSOLIDATED GRAPHICS REPORTS SECOND QUARTER RESULTS Houston, Texas - October 27, 1999 - Consolidated Graphics, Inc. (NYSE:CGX) today announced results for the second quarter and six months ended September 30, 1999. Second Quarter: Sales increased 48% to $152.9 million; Operating income grew 46% to $21.0 million; Net income increased 43% to $10.8 million; Earnings per diluted share increased 26% to $.68 per share. Six Months: Sales increased 59% to $298.7 million; Operating income grew 56% to $41.4 million; Net income increased 53% to $21.5 million; Earnings per diluted share increased 33% to $1.37 per share. Joe R. Davis, Chairman and Chief Executive Officer, commented, "As previously announced, our continued growth and industry-leading profitability were partially offset for the quarter by: the impact of Hurricane Floyd, the timing of the completion of acquisitions, management issues at three of our facilities, and our decision to increase long-term profitability and enhance capacity by exiting a low-margin piece of book printing business. These issues are largely behind us, and we look forward to continuing with our historically strong operating performance, using our solid financial condition to execute our successful operating strategies." -MORE- Consolidated Graphics Reports Second Quarter Results Page -2- Consolidated Graphics, Inc. is the fastest growing printing company in the United States. The Company adds value to its acquisitions through managerial and operational expertise, financial strength and economies of scale. Upon completion of pending acquisitions, Consolidated Graphics will have companies operating in 25 states with annualized revenues in excess of $700 million. 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 run-rate revenues assume, among other things, completion of pending acquisitions, general economic conditions, continued demand for its product, the availability of raw materials, retention of its key management and operating personnel, as well as other factors detailed in Consolidated Graphics' filings with the Securities and Exchange Commission. (Table Follows) CONSOLIDATED GRAPHICS, INC. Consolidated Income Statement (In thousands, except per share amounts)
Three Months Ended Six Months Ended September 30, September 30, 1999 1998 1999 1998 Sales ............................ $152,886 $103,270 $298,715 $188,370 Cost of Sales .................... 105,294 70,869 205,446 128,883 GROSS PROFIT ................... 47,592 32,401 93,269 59,487 Selling Expense .................. 14,820 10,172 28,911 18,463 General and Administrative Expense 11,817 7,923 22,917 14,542 OPERATING INCOME ............... 20,955 14,306 41,441 26,482 Interest Expense, net ............ 3,017 2,002 5,682 3,473 Pretax Income .................. 17,938 12,304 35,759 23,009 Income Taxes ..................... 7,175 4,800 14,303 8,975 NET INCOME ..................... $ 10,763 $ 7,504 $ 21,456 $ 14,034 Earnings Per Share - Basic ....... $ .69 $ .56 $ 1.40 $ 1.06 Earnings Per Share - Diluted ..... $ .68 $ .54 $ 1.37 $ 1.03 Weighted Average Shares Outstanding - Basic .......... 15,663 13,397 15,364 13,227 Weighted Average Shares Outstanding - Diluted ........ 15,937 13,803 15,644 13,637
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