This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CSS Industries, Inc. Reports Results Of Operations For The Three And Nine Months Ended December 31, 2011

CSS Industries, Inc. (NYSE:CSS) announced today its results of operations for the three and nine months ended December 31, 2011. During the second quarter of fiscal 2012, the Company sold its Cleo Christmas gift wrap business and is reporting the results of that business as discontinued operations.

Sales for the third quarter of fiscal 2012 decreased 2.9% to $129,240,000 from $133,089,000 in the third quarter of fiscal 2011, primarily driven by lower sales of Christmas cards which was partially offset by higher sales of all occasion products. Income from continuing operations before income taxes for the third quarter of fiscal 2012 was $18,857,000 compared to $22,759,000 in the third quarter of fiscal 2011. In the current fiscal year, the Company began to charge incentive compensation expense to the periods in which profits are generated. Due to this change, pre-tax incentive compensation expense for the third quarter of fiscal 2012 was $1,401,000 higher than the third quarter of fiscal 2011. Income from continuing operations for the third quarter of fiscal 2012 was $12,109,000, or $1.24 per diluted share, versus $14,499,000, or $1.49 per diluted share, in the third quarter of the prior fiscal year. Net income for the third quarter of fiscal 2012 was $10,978,000, or $1.13 per diluted share, versus $12,855,000, or $1.32 per diluted share, in the third quarter of fiscal 2011.

Sales for the first nine months of fiscal 2012 increased 0.8% to $323,534,000 from $320,983,000 in the first nine months of fiscal 2011, with this increase primarily driven by higher sales of all occasion products which was partially offset by lower sales of Christmas cards. Income from continuing operations before income taxes for the first nine months of fiscal 2012 was $29,677,000, which was 3.7% lower than the $30,829,000 in the prior year largely due to $1,816,000 of higher incentive compensation expense in the first nine months of fiscal 2012 compared to the same period in fiscal 2011. Income from continuing operations for the first nine months of fiscal 2012 was $18,976,000, or $1.95 per diluted share, versus $19,692,000, or $2.03 per diluted share, in the first nine months of fiscal 2011. Net income for the first nine months of fiscal 2012 was $18,894,000, or $1.94 per diluted share, versus $15,583,000, or $1.61 per diluted share, in the first nine months of the fiscal 2011. The Company’s highly seasonal orientation has historically resulted in operating losses in the first and fourth quarters of the fiscal year and operating profits in the second and third quarters.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs