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Crown Crafts reports results for Q4 fiscal 2007
21 Jun '07
2 min read
Crown Crafts Inc reported pre-tax income for fiscal year 2007 of $6.9 million, excluding a $4.1 million pre-tax gain associated with the Company's debt refinancing in July 2006, on net sales of $72.0 million compared to pre-tax income for fiscal year 2006 of $4.0 million on net sales of $72.6 million.
Net income for fiscal year 2007 was $7.6 million, or $0.76 per diluted share, compared to net income for fiscal year 2006 of $8.0 million, or $0.37 per diluted share.
Net income for fiscal year 2007 included an after-tax gain of $3.7 million associated with the Company's debt refinancing; whereas, net income for fiscal year 2006 benefited from the reversal of a $4.2 million deferred tax valuation allowance.
As a result of the Company's debt refinancing in fiscal year 2007, diluted shares decreased from 21.7 million to 10.0 million for the current year as compared to the prior year.
Pre-tax income for the fourth quarter of fiscal year 2007 was $1.8 million on net sales of $17.8 million, compared to pre-tax income of $1.9 million on net sales of $19.8 million for the fourth quarter of fiscal year 2006.
Net income for the fourth quarter of fiscal year 2007 was $0.7 million, or $0.07 per diluted share, compared to net income of $6.0 million, or $0.27 per diluted share, for the fourth quarter of fiscal year 2006.
Net income for the fourth quarter of fiscal year 2006 also benefited from the reversal of the deferred tax valuation allowance.
Net income for fiscal year 2007 was $7.6 million, or $0.76 per diluted share, compared to net income for fiscal year 2006 of $8.0 million, or $0.37 per diluted share.
Net income for fiscal year 2007 included an after-tax gain of $3.7 million associated with the Company's debt refinancing; whereas, net income for fiscal year 2006 benefited from the reversal of a $4.2 million deferred tax valuation allowance.
As a result of the Company's debt refinancing in fiscal year 2007, diluted shares decreased from 21.7 million to 10.0 million for the current year as compared to the prior year.
Pre-tax income for the fourth quarter of fiscal year 2007 was $1.8 million on net sales of $17.8 million, compared to pre-tax income of $1.9 million on net sales of $19.8 million for the fourth quarter of fiscal year 2006.
Net income for the fourth quarter of fiscal year 2007 was $0.7 million, or $0.07 per diluted share, compared to net income of $6.0 million, or $0.27 per diluted share, for the fourth quarter of fiscal year 2006.
Net income for the fourth quarter of fiscal year 2006 also benefited from the reversal of the deferred tax valuation allowance.
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