Crown Crafts prospers on Springs acquisition
June 11, 2008,
Gonzales, La. – Calling the past 12 months “a very rewarding year,” Crown Crafts today reported fiscal 2008 full year net earnings of $4.4 million, up 12.8% from $3.9 million in the prior year. Earnings per diluted share were $0.39.
“Much of this increase is related to the acquisition of the baby product line from Springs Global in November 2007, which we are proud to say has proven to be a great strategic addition,” said Randall Chestnut, chairman, president and ceo of the infant and toddler products supplier.
Crown Crafts projected revenue of $90 million to $93 million for the fiscal year ending March 29, 2009, with diluted earnings per share to be in the range of $0.41 to $0.46.
Related Content By Author
Live From New York: Fashion Comes Across the Pond
Home & Textiles Today eDaily
Most Viewed Articles
See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more...