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Tuesday, May 10, 2005
Merrill Corporation Reports Record Annual Revenues and Operating Income
Merrill Corporation announces record revenue and operating income results for the fiscal fourth quarter and year ending January 31, 2005.
St. Paul, Minn. - Merrill Corporation (www.merrillcorp.com), a global, diversified communications and document services provider, today announced record revenue and operating income results for the fiscal fourth quarter and year ending January 31, 2005.
Revenues in the fourth quarter increased 15 percent to $166.7 million, compared to $144.8 million in the prior year's fourth quarter. Net income in the fourth quarter increased $1.7 million to $2.4 million, compared to $0.7 million in the prior year's fourth quarter.
For the full fiscal year ended January 31, 2005, revenue increased 17 percent to $697.9 million, compared to $596.2 million in fiscal year 2004 and operating income increased by $17.5 million to $69.4 million compared to $51.9 million while net income increased by $13.0 million to $21.4 million for fiscal year 2005, compared to $8.4 million in fiscal year 2004.
"Last year's record performance is a credit to our clients and employees worldwide" said John Castro, CEO of Merrill Corporation. "While fiscal year 2005 was led by Financial Document Services, we saw double digit growth in most of our diversifying businesses."
Earnings before interest, income taxes, depreciation and amortization (EBITDA) for fiscal year ended January 31, 2005 was $86.2 million, representing a 28 percent increase over the $67.3 million EBITDA generated in the prior fiscal year. EBITDA is often of interest to lenders and investors as a key performance measure. About Merrill Corporation
Founded in 1968, Merrill Corporation (www.merrillcorp.com) is a leading global provider of technology-enabled service solutions for the financial, legal, real estate and other corporate markets. Merrill combines deep industry expertise with superior service and infrastructure to deliver world-class document, brand marketing, print, fulfillment, language and e-business solutions. With more than 4,700 people in more than 60 locations, Merrill empowers the communications of the world's leading companies.
# # # Forward-Looking Statements
Merrill Corporation cautions investors that certain statements contained in this press release that state management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements.
Management wishes to caution the reader these forward-looking statements are not historical facts and are only estimates or predictions. Actual results may differ materially from those projected as a result of risks and uncertainties including, but not limited to, the competitive environment in our business, demand for our product and service offerings, projections of future sales, changes in technology, our ability to retain employees and other risks. Forward-looking statements can be identified through the use of words such as "may," "will," "intend," "plan," "expect," "anticipate," " could," "should," "would," "believe," "estimate," "contemplate," " potential," "continue," "possible" and "proposed."
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