Consolidated Graphics, Inc. today announced financial results for its fourth quarter and year ended March 31, 2012.
Revenue for the March quarter was $250.6 million, a $7.6 million or 2.9% decrease compared to the prior year quarter. The decline in revenue compared to the prior year quarter was due to a 4.8% decline in same-store sales, partially offset by sales growth related to acquisitions and an increase in election-related business. Adjusted Operating Income for the March 2012 quarter was $6.0 million or 2.4% of revenue, compared to $17.7 million or 6.9% of revenue last year. Adjusted Net Income was $2.9 million, or $.28 per diluted share for the quarter, compared to Adjusted Net Income of $9.8 million or $.85 per diluted share for the prior year quarter. Adjusted EBITDA was $25.0 million for the March 2012 quarter and $122.9 million for fiscal year 2012.
Operating loss, which included $11.5 million in charges related to withdrawing from multiemployer pension plans and $2.0 million in long-lived asset impairment charges, was $8.3 million for the March 2012 quarter. Operating income for the prior year quarter was $16.4 million and included long-lived asset impairment charges of $.5 million. Net loss for the March 2012 quarter was $5.9 million or $.57 diluted loss per share, compared to $8.9 million or $.78 diluted earnings per share last year.