Consolidated Graphics sees 3Q profit below Street

HOUSTON - Commercial printer Consolidated Graphics Inc. said Wednesday that it expects fiscal third-quarter profits below analysts' expectations as it faces a difficult economic environment and tough competition.

The Houston company expects earnings between 75 cents and 95 cents per share, on revenue of $300 million to $320 million.

Analysts polled by Thomson Reuters, on average, expect a profit of $1.06 per share.

"We expect that economic headwinds will continue to affect the market resulting in a very competitive operating environment, said company Chief Executive Joe R. Davis in a statement.

The outlook assumes sales in stores open at least one year, a key retail metric known as same-store sales, will fall 6 percent to 12 percent, excluding election-related business.

Shares rose 27 cents to $14.57 during late-day trading.

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