Graduation Company Balfour & Co. Sees Strong Operating Performance and Announces Brand New Manufacturing Facility
Balfour & Co. ("Balfour"), the trusted North American leader in graduation consumer products, today announced a nearly 100% fiscal year-over-year improvement in operating performance as well as the construction of its new, state-of-the-art printing facility. Balfour offers personalized products such as class jewelry and apparel, yearbooks, graduation cap and gowns, announcement products, and photography.
The company's financial improvement was largely a reflection of strong sales and operating improvements across its core graduation products categories. With its financial flexibility and strong operating position, Balfour continues to invest in its platform to expand its products and customer support within existing and emerging categories in the commencement services space.
"We continue to see great momentum throughout the business as we kick off our new fiscal year," said Ryan Esko, Chief Executive Officer of Balfour. "Balfour today is operating from a stronger financial position, and we're focused on investing in our customers, operating platform, sales representatives, and team. We're incredibly grateful to our customers, employees, and sales representatives for their partnership."
Balfour is also well underway in the construction of its additional, new, and state-of-the-art yearbook printing facility to provide schools an extra edge by offering access to the latest innovations in printing technologies. The facility is fully owned by Balfour and will harness its significant investment in its new proprietary technology, Balfour Vivid PrintTM, to deliver best-in-class yearbooks to its customers starting in 2023.
Mr. Esko added: "This is an exciting investment that supports our continued growth and expands our ability to deliver exceptional products to customers. Balfour has been a trusted partner for nearly 110 years in helping students capture some of life's most meaningful memories. With this new, state-of-the-art yearbook printing facility, we'll be an even stronger partner for schools and students."
In addition to building this new facility, Balfour has also arranged a partnership with an established printing company, which is under common ownership and has three printing locations, to provide printing capacity overflow and redundancy whenever it is needed.
Balfour's team continues to be focused on excellence and innovation with its products and services going into its new fiscal year.
About Balfour
Balfour & Co. is one of the largest commencement services companies leading the industry in digital product innovation by helping students and their families celebrate the most meaningful moments in their lives. Operating under Balfour®, GradImages®, University Photo®, Gaspard®, ArtCarved®, KeepSake®, and Taylor Publishing Company®, the Company provides personalized products such as class jewelry and apparel, yearbooks, graduation cap and gowns, announcement products, and photography through digital marketing technology, personal in-school deliveries, and customized school assortments. The Company operates throughout North America with around 5,000 team members.
To learn more visit Balfour.com, the destination for Graduation products, and GradImages.com, the industry's largest commencement photography platform.
*Balfour utilizes an adjusted EBITDA estimate measure, as well as other key measures, as an indicator for operating performance.
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