Multi-Color revenues increase 51 percent

qiangzi

Tuesday, May 22, 2012
# l8 n% ~( H! Z! Y' f* U" L
5 k* [2 ~0 A; G+ g1 cCincinnati, OH - Multi-Color announced fiscal 2012 results including 4 percent organic growth (excluding foreign exchange), stable 20 percent gross margins and progress with the York Label Group acquisition integration. “Total revenues grew 51 percent to over $500 million in fiscal 2012 and revenues, including the full year impact of acquisitions occurring in fiscal 2012, are expected to exceed $650 million in fiscal 2013. Organic revenue growth was 4 percent (excluding foreign exchange) and operational improvements helped us achieve a 14 percent organic operating income improvement (excluding foreign exchange) for fiscal 2012,” said Nigel Vinecombe, president and CEO of Multi-Color. Net revenues increased 51 percent to $510.2 million from $338.3 million in the prior year. Net revenues increased 45 percent or $151.4 million due to acquisitions and start-ups occurring after the beginning of fiscal 2011. Of this acquisition-related revenue increase, $109.9 million is attributable to the acquisition of York Label Group. In addition, organic net revenues, excluding the impact of foreign exchange, increased 4 percent in the current year comprised of a 2 percent increase in sales volumes and a 2 percent favorable impact of sales mix. The impact of foreign exchange rates compared to the prior year was 2 percent primarily driven by the appreciation in the Australian dollar. Gross profit increased $30.3 million or 45 percent compared to the prior year. Adjusted for special items, gross profit increased $31.4 million, or 46 percent. Acquisitions and start-ups occurring after the beginning of fiscal 2011 contributed 31 percent to the adjusted gross profit increase. The remaining 15 percent increase was due to the impact of foreign exchange rates, higher sales volumes and favorable sales mix impacts in the current year. Gross margins, adjusted for special items, were steady at 20 percent of sales revenues compared to the prior year. -