Consolidated Graphics Posts Revenue and Income Declines: Consolidated Graphics announced financial results for the quarter ended Dec. 31, 2011. Revenue for the quarter was $283.9 million, a $15.2 million or 5.1 percent decrease compared to the prior-year quarter.
The decline in revenue compared to the prior year quarter was due to an expected $11.3 million decline in election-related business, a 3.5 percent decline in same-store sales, partially offset by sales growth related to acquisitions.
Adjusted operating income for the quarter ended Dec. 31, 2011, was $20.6 million or 7.2 percent of revenue, compared to $30.2 million or 10.1 percent of revenue the previous year. Adjusted net income was $12.6 million, compared to $18.7 million for the prior-year quarter.
Operating income, which included a $2.0 million goodwill impairment charge, was $17.6 million for the quarter. Operating income for the prior year quarter was $28.2 million and included impairment charges of $1.0 million. Net income was $10.8 million, compared to $17.6 million last year.
