Crown Crafts Inc., a Gonzales-based baby products wholesaler, reported earnings for the second quarter of its fiscal year jumped to $1.1 million, or 12 cents per share, compared to $755,000, or 8 cents per share, a year ago.
Crown’s second quarter ended Sept. 29.
The company’s sales grew by 16 percent to $20.1 million.
Crown’s results beat Wall Street analysts’ expectations. Analysts surveyed by Thomson Reuters forecast earnings of 10 cents per share on revenue of $17.6 million.
New products from Cambridge Towel Co. Inc., a Canadian distributor, and a signature line of infant bedding products by designer Wendy Bellissimo helped boost sales, said E. Randall Chestnut, chairman, president and chief executive officer. The programs are part of Crown’s efforts to expand its offerings to young families.
Crown shares closed Wednesday at $7.66, up 13 cents.