follow us

Crown Crafts sales surge in 1Q

Gonzales, La. – Crown Crafts’ acquisition of the Springs infant division nine months ago provided a lift to first-quarter sales, the producer of infant and toddler products reported today.

Sales jumped 28.6% to $19.8 million for the quarter ended June 29. Sales of bedding, blankets and accessories were $4.9 million -- $4.7 of that coming from the Springs segment, executives said during the company’s quarterly conference call this morning.

Net income fell 37% to $619,000. “Profitability decreased year-over-year primarily as a result of an unfavorable change in the over-absorption of overhead of $475,000, which should reverse itself over the remaining quarters of the fiscal year,” said Randall Chestnut, chairman, president and ceo.

Crown Crafts also incurred roughly $245,000 in amortization expense association with the acquisition of Springs infant division this past November.

The company also reaffirmed its fiscal year guidance of $90 million to $93 million in revenue and earnings per share of 41 cents to 46 cents.

Featured Video

Other Home Furnishings Sites

Casual Living
Furniture Today
Gifts and Decorative Accessories
Home Accents Today
Kids Today
HFN - Home Furnishings News