(Source: PRNewswire)

SHARONVILLE, Ohio, May 15 /PRNewswire-FirstCall/ -- Multi-Color Corporation (Nasdaq: LABL) today announced financial results for the fourth quarter and full year ended March 31, 2009, compared with the same periods a year ago.
The Company generated its eleventh consecutive year of record Revenues from Continuing Operations during fiscal 2009 of $289.8 million, an increase of 38% compared to the prior year. In addition, the Company generated record Adjusted Income from Continuing Operations of $13.7 million as outlined below.
Financial results for fiscal 2009 and 2008 included the following special
items:
Year__ Year
Ended__ Ended
__ 2009__ 2008
(in__ (in
thousands)__ EPS__ thousands)__ EPS
Income from Continuing Operations
and EPS, as reported__ $11,435__ $0.93__ $16,007__ $1.52
Plant Closure Costs__ 1,634__ 0.13__ -__ -
Gain on Forward Currency
Contracts__ -__ -__ (5,001)__ (0.48)
Other Special Charges__ 602__ 0.05__ 683__ 0.06
Adjusted Income from Continuing
Operations and Adjusted EPS__ $13,671__ $1.11__ $11,689__ $1.10__
Fiscal 2009 highlights included:
-- Net revenues increased 38% to $289.8 million from $210.3 million. The
increase was due to the Collotype acquisition completed in February
2008, which generated $106.4 million in revenues for the year, partially
offset by a $17.6 million or 9% reduction in North American organic
revenues due to the recessionary impact on consumer spending.
-- Gross profit increased 36% to $52.8 million due to the Collotype
acquisition, partially offset by the impact of the decrease in North
American organic revenues and plant start-up costs incurred during the
first half of the year for the new Batavia, Ohio manufacturing
facility.
-- Selling, general and administrative (SG&A) expenses increased $6
million due to comparable expenses from the Collotype acquisition. As a
percent of sales, SG&A expenses were reduced by 75 basis points due
to cost reduction actions.
-- Operating income increased 31% to $22.9 million. Excluding the impact
of the special items from both periods, adjusted operating income
increased 42% to $26.4 million from $18.5 million.
-- Interest expense increased to $6.8 million from $1 million due to the
debt incurred to finance the Collotype acquisition. During fiscal year
2009, the Company repaid $25 million or 19% of long term debt.__
-- The Company's effective tax rate was 30% in 2009 compared to 36% in
2008 due to income in lower tax jurisdictions and the finalization of
the acquisition tax structure related to the Company's
international operations.