For the fiscal year ended May 31, sales at Celebrate Express slipped 2%, to $85.2 million from $87.0 million. The Kirkland, WA-based party supplies cataloger reported net income of a mere $43,000, compared with $405,000 the previous fiscal year.
For the fiscal fourth quarter, sales decreased 17%, to $20.1 million, compared with $24.2 million for the same period last year. What’s more, fourth-quarter income dropped 68%, to 324,000, compared with net income of $1 million last year.
Company officials said in a release that the decrease in revenue from fiscal year 2006 to fiscal year 2007 was driven by the change in revenue for the Storybook Heirlooms brand, which declined $6.9 million in the fiscal year. The company finished winding down that brand in April.
The Costume Express brand represented a growing portion of overall net sales during the year and increased 38% from fiscal 2006. Birthday Express brand net sales were up 1.3% from prior year as the company focused on balancing growth with profitability.