Crown Crafts Inc. (CRWS) said that its net income for the fourth quarter of fiscal 2014 increased to $2.0 million or $0.21 per share, from $1.9 million or $0.19 per share in the fourth quarter of fiscal 2013. Analysts polled by Thomson Reuters expected the company to report earnings of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.
Quarterly net sales grew to $24.0 million from $23.6 million in the prior year.
The company stated that its steadily improving performance reflected the continued strength of its business strategy. Operationally, it was committed to continuous improvement and controlling costs wherever it can. Its financial position was strong, and it remained debt-free.
"On the heels of a strong prior year, we once again improved our performance as both net income and net sales increased in fiscal year 2014, even though we continue to operate in a challenging retail environment," said Randall Chestnut, Chairman, President and Chief Executive Officer.
For comments and feedback contact: editorial@rttnews.com
Business News