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Multi-Color Announces First Quarter Results

Net revenues increased 1% to $166.8 million

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Multi-Color Corporation announced net revenues increased 1% to $166.8 million from $165.0 million in the prior year. First quarter core earnings per share decreased 13% to $0.48 per diluted share from $0.55 in the prior year quarter. Diluted net earnings per share decreased to $0.40 from $0.49 in the prior year. Non-core items (consisting of integration expenses, acquisition expenses, plant consolidation expenses, purchase accounting charges, and currency losses related to repatriation of foreign currency) increased to $0.08 per share from $0.06 per share in the prior year.

“Core EPS at $0.48 for the quarter was impacted by lower gross margins primarily due to unusually high expenses associated with multiple equipment transfers and installations designed for better future utilization,” Nigel Vinecombe, president and CEO of Multi-Color Corporation, said. “In addition, organic sales growth was weaker for the quarter than prior quarters. We do not expect these factors to continue at these levels. We expect recent acquisitions in Mexico, Australia and France to contribute to core EPS from the third quarter of this fiscal year.”

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