Business is accelerating for Ennis Inc. (asi/52493).

The Midlothian, TX-headquartered print and promo products supplier reported year-over-year increases in sales, earnings and profit margin in its fiscal year first quarter, which concluded May 31.

Keith Walters, Ennis Inc.

A publicly traded company, Ennis said sales tallied $107.7 million, an 11.1% rise compared to the same quarter the prior year. The revenue includes sales across all divisions and channels, including but not limited to the North American promo market.

Meanwhile, net income leapt 60% to $11.6 million, which translated to per-share earnings of $0.45, up from $0.28 the previous year’s first quarter. Profit margin rose 150 basis points – from 30.1% to 31.6%. Earnings before interest, taxes, depreciation and amortization also improved, climbing from $15 million in 2021’s first quarter to $20.5 million in Q1 2022.

Capitalizing on strong customer demand was key to driving the growth, the company reported. Ennis sees more sales and earnings expansion ahead, noting acquisitions could be in the cards.

“We believe we have one of the strongest balance sheets in the industry, with no debt and significant cash,” said Keith Walters, CEO, president and chairman of Ennis. “Our profitability and strong financial condition will allow us to continue operations and fund acquisitions without incurring debt. Given those strengths, we also anticipate timely access to credit should larger acquisition opportunities materialize.”

In April, Ennis reported that it increased total company revenue, net income and earnings for its full fiscal year, which concluded Feb. 28, 2022.

Ennis sells promotional products, business forms and supplies, checks and software-compatible forms, envelopes, custom business forms, presentation folders and more. The company was formerly a Top 40 supplier.