India, Sept. 21 -- Ennis, Inc., (EBF) a supplier of business products, Monday reported lower net profit and EBITDA in its second quarter, hurt by litigation charge and the absence of prior year's litigation benefit, despite higher net sales.
In the B&D Litho lease litigation, the company said it disagrees with the preliminary ruling and intends to pursue all available post-trial and appellate remedies.
In the second quarter, net earnings were $9.39 million or $0.37 per share, lower than last year's $13.16 million or $0.51 per share.
The latest quarter results were hurt by an unrelated $0.70 million charge related to a $2.3 million preliminary ruling in the B&D Litho lease litigation, while the prior year- profit was benefited by a $5.3 m...