CSS Industries Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015
January 25, 2016 at 04:15 pm EST
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CSS Industries Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, the company reported sales of USD 104,568,000 against USD 104,993,000 a year ago. Income before income taxes was USD 15,191,000 against USD 15,142,000 a year ago. Net income was USD 9,664,000 against USD 9,768,000 a year ago. Diluted net income per common share was USD 1.06 against USD 1.04 a year ago. Sales were decreased 0.4% from the third quarter of fiscal 2015, as lower sales of craft ribbon, Christmas cards and tags more than offset higher shipments of Christmas bows and ribbon, largely due to the previously announced acquisition of Hollywood Ribbon Industries Inc., and earlier shipping of Easter products.
For the nine months, the company reported sales of USD 260,273,000 against USD 259,342,000 a year ago. Income before income taxes was USD 28,106,000 against USD 28,569,000 a year ago. Net income was USD 17,825,000 against USD 18,290,000 a year ago. Diluted net income per common share was USD 1.92 against USD 1.95 a year ago. Sales were increased 0.4% from first nine months of fiscal 2015, primarily due to higher sales of Christmas bows and ribbon, largely due to the previously announced acquisition of Hollywood Ribbon Industries Inc., and earlier shipping of Easter products, largely offset by lower sales of Christmas cards and tags and craft ribbon.
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.
CSS INDUSTRIES, INC. 
