Crown Crafts Inc. said its normalized net income for the fiscal fourth quarter ended March 29 amounted to 21 cents per share, compared with the S&P Capital IQ consensus estimate of 23 cents per share.
EPS increased year over year from 21 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.2 million, an increase from $2.1 million in the year-earlier period.
The normalized profit margin dropped to 8.3% from 8.7% in the year-earlier period.
Total revenue grew 8.7% year over year to $26.1 million from $24.0 million, and total operating expenses climbed 9.4% on an annual basis to $22.6 million from $20.7 million.
Reported net income increased on an annual basis to $2.1 million, or 21 cents per share, from $2.1 million, or 21 cents per share.
For the year, the company's normalized net income totaled 62 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 63 cents.
EPS rose from 59 cents in the prior year.
Normalized net income was $6.3 million, a gain of 7.1% from $5.8 million in the prior year.
Full-year total revenue increased 5.8% on an annual basis to $86.0 million from $81.3 million, and total operating expenses rose 5.6% year over year to $75.9 million from $71.9 million.
The company said reported net income decreased year over year to $5.7 million, or 57 cents per share, in the full year, from $5.8 million, or 59 cents per share.
