Things are on the up for Ennis Inc. (asi/52493).

Selling an array of print solutions and promotional products, the Midlothian, TX-based supplier increased total company revenue, net income and earnings for its full fiscal year, which concluded Feb. 28, 2022.

Keith Walters, Ennis Inc.

Annual revenue across all divisions – including promo and print – was $400 million, up 11.7% from the prior year. Net earnings tallied $28.9 million, or $1.11 per diluted shared – both increases from the $24.1 million and $0.93 per diluted share earned during the previous annual period. A pension settlement charge nicked $0.03 per share off the bottom line, Ennis noted. Earnings before interest, taxes, depreciation and amortization (EBITDA) jumped nearly $10 million to $60.73 million.

Amid intense inflationary pressure on materials and labor, Ennis’ profit margin slipped slightly, from 29% to 28.7%. Even so, gross profit margin still climbed overall thanks to stronger revenue, totaling $114.7 million compared to $103.8 million in the previous comparable 12-month span.

Keith Walters, CEO, chairman and president of Ennis, noted that the firm has shuttered some underperforming manufacturing facilities, consolidating the operations into existing locations – moves that will reduce costs and improve operational efficiencies. He’s optimistic about what lies ahead.

“We believe we have one of the strongest balance sheets in the industry, with no debt and significant cash,” Walters said.

Ennis sells promotional products, business forms and supplies, checks and software-compatible forms, envelopes, custom business forms, presentation folders and more.