CSS Industries Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2012
January 29, 2013 at 09:12 pm
Share
CSS Industries Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, the company's sales decreased 10.2% to $116,020,000 from $129,240,000 in the third quarter of fiscal 2012. Income from continuing operations before income taxes was $17,020,000, compared to $18,857,000 in the third quarter of fiscal 2012. Income from continuing operations was $11,601,000, or $1.21 per diluted share, against $12,109,000, or $1.24 per diluted share, in the third quarter of the prior fiscal year. Net income was $11,611,000, or $1.22 per diluted share, against $10,978,000, or $1.13 per diluted share, in the third quarter of fiscal 2012.
For the first nine months, the sales decreased 4.0% to $310,572,000 from $323,534,000 in the first nine months of fiscal 2012. Income from continuing operations before income taxes for the first nine months of fiscal 2013 was $27,945,000, compared to $29,677,000 in the prior year. Income from continuing operations was $17,573,000, or $1.83 per diluted share, against $18,976,000, or $1.95 per diluted share, in the first nine months of fiscal 2012. Net income was $17,628,000, or $1.84 per diluted share, against $18,894,000, or $1.94 per diluted share, in the first nine months of the fiscal 2012.
CSS Industries, Inc. is a United States-based consumer products company. The Company is engaged in development, manufacture, procurement, distribution and sale of various categories of products include seasonal, which includes holiday gift packaging items, such as ribbon, bows, greeting cards, bags, tags and gift card holders, in addition to specific holiday-themed decorations, accessories, and activities; gift, which includes products designed to celebrate certain life events or special occasions, such as weddings, birthdays, anniversaries, graduations, or the birth of a child, and its offered products include ribbons and bows, floral accessories, infant products, journals, gift card holders, all occasion boxed greeting cards, memory books, scrapbooks, stationery and other items; and craft, which includes sewing patterns, ribbons and trims, buttons, knitting needles, needle arts and kids crafts.