Crown Crafts Net Jumps 35 Percent in Fiscal First Quarter
August 11, 2010,
GONZALES, La.--First-quarter net income for Crown Crafts totaled $726,000, 35 percent ahead of its first quarter of one year ago.
The company accomplished this in spite of a 3.2 percent slip in net sales for the quarter, which totaled $17.2 million. Tight expense controls offset the sales decline, resulting in a gross-margin increase of 260 basis points, to 25 percent, and a gain in operating income of 17.2 percent.