Crown Crafts, Inc. reported unaudited consolidated earnings results for third quarter and nine months ended December 31, 2016. For the quarter, the company reported net sales of $17,262,000 against $20,691,000 a year ago. Income from operations was $3,063,000 against $3,070,000 a year ago. Income before income tax expense was $3,088,000 against $3,022,000 a year ago. Net income was $1,861,000 or $0.19 per basic and diluted share against $2,143,000 or $0.21 per basic and diluted share a year ago. The company finished the quarter with no debt, and $14.4 million in cash in the bank.

For the nine months, the company reported net sales of $48,670,000 against $59,265,000 a year ago. Income from operations was $6,059,000 against $7,188,000 a year ago. Income before income tax expense was $6,136,000 against $7,140,000 a year ago. Net income was $3,963,000 or $0.39 per basic and diluted share against $4,635,000 or $0.46 per basic and diluted share a year ago.

For the 2017, the company's provision for income taxes is based on an estimated annual effective tax rate from continuing operations of 37.3%.