Diluted EPS increased 21% to $1.40 per diluted share from $1.16. Excluding the impacts of the special charges noted below, adjusted diluted EPS increased 56% to $1.76 per diluted share from $1.13. Net income for the full year increased 29% to $18.4 million from $14.3 million. Adjusted net income increased 66% to $23.1 million compared to $14 million in the prior year.

Net revenues increased 22% to $338.3 million from $276.8 million in the prior year. The CentroStampa and Monroe Etiquette acquisitions contributed $44.3 million or 16% of the revenue increase. The remaining increase was due to a 4% increase in sales volume and a 3% favorable foreign exchange impact, partially offset by a 1% unfavorable pricing impact.

Gross profit increased $19.4 million or 40% compared to the prior year. Adjusted for special charges, gross profit increased $19.8 million or 41%. The acquisitions of CentroStampa and Monroe Etiquette contributed 21% to the adjusted gross profit increase. The remaining increase was due to higher sales volumes, foreign exchange and improved operating efficiencies. Gross margins increased to 20% from 18% of sales revenues compared to the prior year.

Selling, general and administrative (SG&A) expenses, adjusted to exclude the impact of acquisitions and special charges, decreased by 2% compared to the prior year due primarily to reductions in headcount and other cost decreases partially offset by the impact of foreign exchange. Adjusted for special items, SG&A expenses, as a percent of sales, decreased from 9.2% to 8.5% compared to the prior year. SG&A expenses, as reported, increased 20% and SG&A, adjusted for special charges, increased by 13% compared to the prior year. Special charges included in SG&A expenses for fiscal 2011 consisted of $1.7 million in severance and accelerated stock compensation charges, $1.3 million in acquisition and start-up related expenses, $1.1 million in legal fees and $0.2 million in other charges. The increase in SG&A related to the two acquisitions was $3.9 million and represents 15% of the adjusted SG&A increase.

As previously disclosed, in the fourth quarter of fiscal 2011, the Company recorded a charge of $2.8 million ($1.8 million after tax) related to the settlement of a legal dispute with the John Henry Company.

As previously reported, in the fourth quarter of fiscal 2010, the Company sold certain assets associated with the manufacturing of gravure cylinders for $4.3 million in cash and recorded an after-tax gain of $2.1 million in its fourth quarter fiscal 2010 financial results. Also, in fiscal 2010, the Company recorded facility closure expenses of $1.2 million in connection with the relocation of its corporate headquarters and during the third quarter of fiscal 2011, recorded a pre-tax reduction to the initial charge of $258,000 to incorporate the impact of the additional sublease income on the sublease of the remaining unoccupied space.

Operating income increased $9.3 million or 41% compared to the prior year. Adjusted for special charges, operating income increased 71% to $39.5 million from $23.1 million. The CentroStampa and Monroe Etiquette acquisitions contributed 28% to the adjusted operating income increase. The remaining increase in operating income is due primarily to higher sales volumes, improved operating efficiencies, other cost decreases and the impact of foreign exchange.

Interest expense increased to $7 million compared to $4.8 million in the prior year due primarily to the increase in debt borrowings to finance the acquisitions of CentroStampa and Monroe Etiquette. Also contributing to the increase was the impact of higher interest rates and higher interest expense related to the present value adjustments of various lease and other liabilities.

The Company’s effective tax rate was 28% in fiscal 2011 compared to 23% in the prior year due primarily to an increase in income in higher tax jurisdictions, partially offset by the release of reserves for uncertain tax positions whose statute of limitations expired during fiscal 2011 and the finalization of the new tax structure related to the European operations. The Company recognized a tax benefit related to a foreign exchange loss on intercompany loans and other items resulting in a $1 million benefit to income tax expense in the fourth quarter of fiscal 2010. The Company expects its annual effective tax rate to be approximately 27% in fiscal year 2012.

On July 1, 2010, the Company completed the acquisition of European wine, spirit & olive oil label specialist, Guidotti CentroStampa S.p.A., based in Tuscany, Italy, for Euro 50.5 million. On October 1, 2010, the Company acquired all of the shares of Monroe Etiquette in France for Euro 8 million, less net debt assumed.

Net Income and Diluted EPS, as reported

Legal Settlement and Related Legal Fees, Net of Tax

Severance and Accelerated Stock Compensation Expense, Net of Tax

Acquisition and Start-up Expenses, Net of Tax

Gain on Sale of Certain Cylinder Assets, Net of Tax

Net Facility Closure Expense, Net of Tax

Other Special Items, Net of Tax

Adjusted Net Income and Diluted EPS (Non-GAAP)

Net revenues increased 30% to $90.1 million from $69.2 million in the prior year quarter. The CentroStampa and Monroe Etiquette acquisitions contributed 24% of the revenue increase. The remaining increase was due to a 3% increase in sales volume and a 3% favorable foreign exchange impact.

Gross profit increased $6.9 million or 61% compared to the prior year quarter. The acquisitions of CentroStampa and Monroe Etiquette contributed 31% to the gross profit increase. The remaining increase was due to higher sales volumes, foreign exchange and improved operating efficiencies. Gross margins increased to 20% from 17% of sales revenues compared to the prior year quarter.

Selling, general and administrative (SG&A) expenses, adjusted to exclude the impact of acquisitions and special charges, decreased by 6% compared to the prior year quarter due primarily to reductions in headcount and other cost decreases partially offset by the impact of foreign exchange. Adjusted for special items, SG&A expenses, as a percent of sales, decreased from 9.8% to 8.7% compared to the prior year. SG&A expenses, as reported, increased by 1% and adjusted for special charges, increased by 16% compared to the prior year. Special charges included in SG&A expenses for the fourth quarter of fiscal 2011 consisted of $0.6 million in legal fees and $0.3 million in other charges. The increase in SG&A related to the two acquisitions was $1.5 million and represents 22% of the adjusted SG&A increase.

Operating income increased by 10% compared to the prior year quarter. Adjusted for special charges, operating income increased to $10.6 million from $4.7 million in the prior year quarter. The CentroStampa and Monroe Etiquette acquisitions contributed 46% to the adjusted operating income increase. The remaining increase in operating income is due primarily to the increase in sales volume, foreign exchange, improved operating efficiencies and other cost decreases.

Interest expense increased to $1.8 million compared to $1.1 million in the prior year due primarily to the increase in debt borrowings to finance the acquisitions of CentroStampa and Monroe Etiquette and the impact of foreign exchange.

The Company’s effective tax rate was 20% for the fourth quarter of fiscal 2011 compared to 11% in the same period of the prior year. The Company’s income tax expense in the fourth quarter of fiscal 2011 was impacted by an increase in income in higher tax jurisdictions, partially offset by the release of reserves for uncertain tax positions whose statute of limitations expired during fiscal 2011 and the finalization of the new tax structure related to the European operations. The Company’s income tax expense for the fourth quarter of fiscal 2010 includes a recognized tax benefit related to the foreign exchange loss on intercompany loans and other items, resulting in a $1.0 million benefit to income tax expense. The Company expects its annual effective tax rate to be approximately 27% in fiscal year 2012.

Diluted EPS decreased 18% to $0.31 cents per diluted share from $0.38 cents. Excluding the impacts of the special charges noted below, adjusted diluted EPS doubled to $0.48 cents per diluted share from $0.24 cents. Net income decreased from $4.7 million to $4.1 million in the current year quarter. Adjusted net income increased to $6.4 million compared to $3 million in the prior year quarter.

Net Income and Diluted EPS, as reported

Legal Settlement and Related Legal Fees, Net of Tax

Severance and Accelerated Stock Compensation Expense, Net of Tax

Acquisition and Start-Up Expenses, Net of Tax

Gain on Sale of Certain Cylinder Assets, Net of Tax

Other Special Items, Net of Tax

Adjusted Net Income and Diluted EPS (Non-GAAP)

Revenues

Cost of Goods Sold

Gross Profit

Gross Margin

Selling, General & Administrative

Loss on Legal Settlement

Gain on Sale of Certain Cylinder Assets

Facility Closure Expense/(Income), net

Operating Income

Other (Income) Expense

Interest Expense

Income before Taxes

Provision for Taxes

Net Income

Basic Earnings Per Share

Diluted Earnings Per Share

Basic Shares Outstanding

Diluted Shares Outstanding

Current Assets

Total Assets

Current Liabilities

Total Liabilities

Stockholders’ Equity

Total Debt

Gross Profit, as reported

Inventory Purchase Accounting Charge

Adjusted Gross Profit (Non-GAAP)

Adjusted Gross Profit (Non-GAAP) as a % of Revenues

Operating Income, as reported

Legal Settlement and Related Legal Fees

Severance and Accelerated Stock Compensation Expense

Acquisition and Start-Up Expense

Inventory Purchase Accounting Charge

Gain on Sale of Certain Cylinder Assets

Facility Closure Expense, net

Other Special Charges

Adjusted Operating Income (Non-GAAP)

Adjusted Operating Income (Non-GAAP) as a % of Revenues

SG&A Expenses, as reported

Legal Fees

Severance and Accelerated Stock Compensation Expense

Acquisition and Start-Up Expense

Other Special Charges

Adjusted SG&A Expenses (Non-GAAP)

Adjusted SG&A Expenses (Non-GAAP) as a % of Revenues