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Crown Crafts fiscal Q2 profit climbs 8.3% YOY


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Crown Crafts fiscal Q2 profit climbs 8.3% YOY

Crown Crafts Inc. said its normalized net income for the fiscal second quarter ended Sept. 27 came to 16 cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

EPS rose 8.7% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.6 million, a gain of 8.3% from $1.5 million in the year-earlier period.

The normalized profit margin increased to 7.8% from 7.3% in the year-earlier period.

Total revenue climbed on an annual basis to $20.7 million from $20.4 million, and total operating expenses came to $18.1 million, compared with $18.0 million in the year-earlier period.

Reported net income increased 99.2% year over year to $1.6 million, or 16 cents per share, from $808,080, or 8 cents per share.