CONSOLIDATED GRAPHICS INC /TX/
8-K, 1998-01-15
COMMERCIAL PRINTING
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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                            ------------------------

                                    FORM 8-K

                                 CURRENT REPORT
     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

         DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JANUARY 15, 1998

                           CONSOLIDATED GRAPHICS, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

         TEXAS                         0-24068               76-0190827
(STATE OR OTHER JURISDICTION   (COMMISSION FILE NUMBER)   (I.R.S. EMPLOYER
      OF INCORPORATION)                                   IDENTIFICATION NO.)

                           5858 WESTHEIMER, SUITE 200
                              HOUSTON, TEXAS 77057
              (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES AND ZIP CODE)

       REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (713) 787-0977

           2210 WEST DALLAS STREET, HOUSTON, TEXAS 77019 - (713) 529-4200
                      (FORMER ADDRESS AND TELEPHONE NUMBER)

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<PAGE>
ITEM 5.  OTHER EVENTS

     On January 15, 1998, Consolidated Graphics, Inc. (the "Company") announced
the signing of a nonbinding letter of intent to acquire Heath Printers, Inc. of
Seattle, Washington and the completion of the acquisition of Columbia Lithograph
of Los Angeles, California. A copy of the press release is attached hereto as
Exhibit 99.

     The attached press release may contain forward looking information. Readers
are cautioned that such information involves risks and uncertainties, including
the possibility that events may occur which preclude completion of pending or
future acquisitions by the Company.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

     (A)  EXHIBITS

     The following exhibit is filed herewith:


      99  Press release of Consolidated Graphics, Inc. dated January 15, 1998,
          related to the announcement of the signing of a nonbinding letter of
          intent to acquire Heath Printers, Inc. of Seattle, Washington and the
          completion of the acquisition of Columbia Lithograph of Los Angeles,
          California.

                                       1
<PAGE>
                                    SIGNATURE

     PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE
REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE
UNDERSIGNED HEREUNTO DULY AUTHORIZED.

                                              CONSOLIDATED GRAPHICS, INC.
                                                      (Registrant)

                                      By: /s/ HAROLD E. GAUBERT, JR.
                                              Harold E. Gaubert, Jr.
                                              Executive Vice President -
                                              Finance and Administration


Date:  January 15, 1998

                                       2

                                                                      EXHIBIT 99

                                            FOR:   Consolidated Graphics, Inc.

                                    APPROVED BY:   Ronald E. Hale, Jr.
                                                   Vice President & Treasurer
                                                   (713) 787-0977

                                        CONTACT:   Betsy Brod/Nancy Healy
                                                   Media: Stan Froelich
                                                   Morgen-Walke Associates, Inc.
                                                   (212) 850-5600

FOR IMMEDIATE RELEASE

              CONSOLIDATED GRAPHICS TO ACQUIRE HEATH PRINTERS OF SEATTLE
                     AND COLUMBIA LITHOGRAPH OF LOS ANGELES

     HOUSTON, TEXAS - January 15, 1998 -- Consolidated Graphics, Inc. (NYSE:CGX)
today announced that it has reached an agreement to acquire Heath Printers, Inc.
of Seattle, Washington and that it has completed the purchase of Columbia
Lithograph of Los Angeles, California. Terms of the transactions were not
disclosed.

     Heath Printers, formed in 1954, is one of the premier commercial printers
in the Seattle market. The management of the company, Nancy Zylstra, President,
Brian Jaeger, Sales Manager, and Brian Miller, Plant Manager, who collectively
have over 40 years of service to Heath and its customers, will remain with the
Company.

     Joe R. Davis, Chairman and Chief Executive Officer of Consolidated
Graphics, commented, "The addition of Heath Printers expands our presence in
Seattle and complements our existing operation in that market. Heath Printers
has maintained an excellent reputation for quality and service throughout its
history. They were the first company in Washington State with a six-color press
and in-house color separation, investments designed to improve product quality
and service for their customers. This commitment by the company and its
employees to customer satisfaction has been the key to their success."

     Consolidated Graphics has also announced the purchase of Columbia
Lithograph, a Los Angeles based commercial printing company. Stephen Hutchins,
with over 25 years experience in the printing industry, will serve as the
company's Chief Executive Officer. Ron Nyborg will continue with the company as
President.

                                -more-
<PAGE>
     Commenting on the Columbia transaction, Davis continued, "This acquisition
expands our presence in the Los Angeles market and gives us the opportunity to
provide the management and financial resources necessary to expand the market
position of Columbia Lithograph, a market presence earned serving the Los
Angeles area for over fifty years."

     Consolidated Graphics, Inc. is recognized as the fastest growing printing
company in the United States. A consolidator in a highly fragmented industry,
the Company adds value to its acquisitions through managerial and operational
expertise, financial strength and economies of scale. Upon completion of pending
acquisitions, Consolidated Graphics will have 31 companies with annualized
revenues in excess of $290 million.

     This press release contains forward-looking statements which involve known
and unknown risks, uncertainties or other factors that could cause actual
results to materially differ from the results, performance or other expectations
implied by these forward looking statements. Consolidated Graphics' expectations
regarding run-rate revenues assume, among other things, completion of pending
acquisitions that are subject to the execution of definitive agreements, general
economic conditions, continued demand for its product, the availability of raw
materials at affordable prices, retention of its key management and operating
personnel, as well as other factors detailed in Consolidated Graphics' filings
with the Securities and Exchange Commission.

                                 #     #     #


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