Crown Crafts Inc. (CRWS) reported that its fourth-quarter of fiscal 2013 net income was $1.85 million, or $0.19 per share, compared to net income of $1.89 million, or $0.19 per share in the fourth quarter of fiscal 2012.
Net sales for the quarter declined to $23.6 million, from last year's $24.8 million. The fourth quarter was impacted negatively by the shift of a modular program's shipment for a major customer from the first quarter of fiscal 2013 into the fourth quarter of fiscal 2012. The decreased birth rate and soft retail environment also contributed to the declines in net sales.
The company also announced that its Annual Meeting of Stockholders will be convened at 10:00 a.m. Central Daylight Time on Tuesday, August 13, 2013 at the Company's headquarters, located at 916 South Burnside Avenue, Third Floor, Gonzales, Louisiana.
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