css industries inc (CSS) Snapshot

CSS Industries Inc. announced consolidated earnings results for the fourth quarter and full year ended March 31, 2013. For the quarter, the company reported sales of $53,621,000 against $61,129,000 a year ago. Loss from continuing operations before income taxes was $5,308,000 against $4,432,000 a year ago. Loss from continuing operations was $1,985,000 against $2,747,000 a year ago. Net loss was $2,401,000 against $3,224,000 a year ago. Diluted net loss per common share from continuing operations was $0.21 against $0.28 a year ago. Sales for the fourth quarter decreased 12.3% to $53,621,000 from $61,129,000 in the fourth quarter of fiscal 2012, partially due to lower Halloween sales resulting from sale of the Halloween business earlier in the year. For the year, the company reported sales of $364,193,000 against $384,663,000 a year ago. Income from continuing operations before income taxes was $22,637,000 against $25,245,000 a year ago. Income from continuing operations was $15,588,000 against $16,229,000 a year ago. Net income was $15,227,000 against $15,670,000 a year ago. Diluted net income per common share from continuing operations was $1.63 against $1.67 a year ago.

CSS Industries Inc. announced the declaration of a quarterly dividend of fifteen cents per share on its outstanding shares of common stock. This dividend will be payable on June 17, 2013 to stockholders of record at the close of business on June 5, 2013.

CSS Industries Inc. announced that Elam (Lee) M. Hitchner, III has been elected as a member of the Board of Directors of the company. He is a former director of Destination Maternity Corporation and of eResearch Technology Inc., and served from time to time at both companies in various board leadership positions, including Chairman of the board of directors and Chairman of various board committees, including the audit and the governance committees. Mr. Hitchner currently serves as a director of Seabrook Brothers and Sons Inc.