Gonzales-based Crown Crafts Inc. reported net income of $1.9 million, or 19 cents per share, for the fourth quarter of the company’s fiscal year, up from $1.6 million, or 16 cents per share, a year ago.
The baby and infant products company’s fourth-quarter sales were $24.8 million, down from $27.2 million a year earlier.
The fourth-quarter results boosted net income for the fiscal year to $5 million, or 52 cents per share, compared to $4.3 million, or 45 cents per share, a year earlier. The company’s annual sales dropped $85.3 million, compared to $90 million a year ago.
The company was able to increase profits despite the industry’s difficult conditions, such as record-setting cotton prices, Crown President, Chief Executive Officer and Chairman E. Randall Chestnut said in a news release. The strength of Crown’s products allowed the company to pass along price increases where possible, and the company also redesigned several product lines to reduce the use of cotton.
Chestnut said Crown also increased sales of its company-branded product lines by around 7 percent, and the company has also generated sales from newer business channels, such as pet bedding and the “dollar store” segment.