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Crown Crafts profit beats consensus by 35.3% in fiscal Q1

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Crown Crafts profit beats consensus by 35.3% in fiscal Q1

Crown Crafts Inc. said its normalized net income for the fiscal first quarter ended June 28 was 9 cents per share, compared with the S&P Capital IQ consensus estimate of 7 cents per share.

EPS climbed 19.4% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $957,500, a gain of 20.3% from $795,630 in the year-earlier period.

The normalized profit margin rose to 5.4% from 5.1% in the year-earlier period.

Total revenue increased 13.7% year over year to $17.9 million from $15.7 million, and total operating expenses increased 13.2% on an annual basis to $16.3 million from $14.4 million.

Reported net income grew 29.6% year over year to $909,720, or 9 cents per share, from $702,030, or 7 cents per share.