Ennis (asi/52493), a Midlothian, TX-based private-label business product supplier whose markets include the promotional products industry, says that its fiscal-year third-quarter sales reached $103 million, an 11.5% rise over the same three-month span from the prior year.

Despite the revenue increase, net earnings declined from $8.36 million in last year’s Q3 to $7.56 million in this year’s comparable period. Earnings per diluted share were $0.29 compared to the prior year’s $0.32.

Costs related to consolidating what were described as “underperforming manufacturing facilities” weighed on earnings. Inflationary pressures, including higher labor and product/material costs, were a factor, too.

Still, for the first nine months of this fiscal year, Ennis noted that 2021 sales are $300.35 million, up from $268 million in 2020. For the nine months of fiscal 2021, net earnings were nearly $22.33 million, a rise from $18.96 million.

“We believe we have one of the strongest balance sheets in the industry, with low debt and significant cash,” said Ennis CEO/Chairman Keith Walters.

Founded in 1909, Ennis has production and distribution facilities located throughout the U.S. The company manufactures and sells products that include everything from business forms, other printed business products and internal bank forms, to promo products, specialty packaging, direct mail solutions and more.

Ennis’ quarterly sales and earnings are based on total company performance across all its categories, not just promo. The company was formerly a Top 40 promo products supplier. In 2016, Top 40 supplier Gildan (asi/56842) agreed to acquire Alstyle Apparel from Ennis.