|Pictured: Chief Financial Officer Jon Biro|
Last week was the 2011 Consolidated Graphics Annual Shareholders’ Meeting, and as always it was quite an event. The Grand Ballroom at the Hilton Americas in downtown Houston was filled with guests, including shareholders, Leadership Development Program (LDP) Associates (CGX’s youngest and brightest talent); John Sabel, Executive Vice President of Motion Picture Creative Print for Walt Disney Studios; the Consolidated Graphics Executive Team and Board of Directors, bankers, lawyers, CGX company presidents and more. It was clear that Consolidated Graphics has a solid team supporting our success.
Chairman and Chief Executive Officer Joe R. Davis kicked off the night with a warm welcome. Not surprisingly, technology was a major focus of the evening, from Chief Financial Officer Jon Biro’s discussion on recent and future investments, to Executive Vice President, Sales and Marketing Aaron Grohs’ overview of major events and product and service developments happening within the company. Investors and guests were able to see the benefits of WorkSmart Suite™, CGX’s newly-launched collection of technology products available to customers, and learn first-hand about the level 4 security rating on the company’s brand new data center, which opened earlier this summer.
CGX continues to show significant growth in a challenging economy, showing 6% revenue growth for a total of $1.054 billion and adjusted operating income up 61%. When it seems as though nobody is hiring, we most definitely are, as we continue our search for talented company presidents and bring on 215 college graduates.
The remainder of the year looks encouraging, as political printing will bring in new profits, acquisition opportunities abound, and digital sales, which currently account for 17% of CGX’s revenues, continue to grow.