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Crown Crafts fiscal Q3 profit falls 6.8% YOY

Crown Crafts Inc. said its normalized net income for the fiscal third quarter ended Dec. 27, 2015, was 19 cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

EPS fell 6.2% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.9 million, a decrease of 6.8% from $2.0 million in the year-earlier period.

The normalized profit margin increased to 9.1% from 8.5% in the year-earlier period.

Total revenue fell 12.9% on an annual basis to $20.7 million from $23.7 million, and total operating expenses decreased 13.9% on an annual basis to $17.6 million from $20.5 million.

Reported net income grew year over year to $2.1 million, or 21 cents per share, from $2.0 million, or 20 cents per share.