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Crown Crafts fiscal Q3 profit climbs 13.0% YOY

Crown Crafts Inc. said its normalized net income for the fiscal third quarter ended Dec. 28, 2014, was 20 cents per share, compared with the S&P Capital IQ consensus estimate of 18 cents per share.

EPS rose 10.5% year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.0 million, an increase of 13.0% from $1.8 million in the prior-year period.

The normalized profit margin declined to 8.5% from 8.7% in the year-earlier period.

Total revenue increased 15.2% year over year to $23.7 million from $20.6 million, and total operating expenses increased 15.3% year over year to $20.5 million from $17.8 million.

Reported net income grew 13.6% year over year to $2.0 million, or 20 cents per share, from $1.8 million, or 18 cents per share.