Consolidated Graphics 4th-quarter loss narrows
Consolidated Graphics 4Q loss narrows, adj. results top Wall Street's expectations
HOUSTON (AP) -- Consolidated Graphics' fourth-quarter loss narrowed, helped by a tax benefit and some lower charges.
The stock climbed to a 52-week high Wednesday.
For the period ended March 31, the general commercial printing company lost $295,000, or 3 cents per share. A year ago it lost $5.9 million, or 57 cents per share.
Stripping out an impairment charge and other items, earnings were 79 cents per share for the recent quarter.
Analysts, on average, expected earnings of 42 cents per share, according to FactSet.
Shares of Consolidated Graphics added $2.85, or 7.3 percent, to $42.10 in midday trading. The stock reached $43.01 earlier in the session, its highest level since April 2012.
Revenue edged up to $251 million from $250.6 million.
Revenue at stores open at least a year edged up a half percent, excluding election-related business. This figure is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.
The Houston company's full-year net income rose 57 percent to $22.2 million, or $2.26 per share, from $14.1 million, or $1.32 per share, in the previous year.
Adjusted earnings were $3.43 per share.
Annual revenue was flat at $1.05 billion.