GONZALES, La.–Crown Crafts reported net income of $1.2 million for its fiscal third quarter, twice the net income it totaled for the third quarter of last year of $600,000.
All of the company’s numbers were up significantly in the quarter just completed. Sales rose by 19.5 percent to $18.4 million, and operating income jumped 127.3 percent to $2.5 million.
Saying that the company is “very pleased” with these results, E. Randall Chestnut, chief executive officer, said the quarter was also notable for the completion of Crown Crafts’ acquisition of the Springs Baby product line, which took place last November. The company paid $11 million for the line and anticipates $4.4 million in additional operating income as a result.
