J. Crew generated revenue of $399.9 million during its fourth quarter, and $1.33 billion for its fiscal 2007 year. In 2006, it reported $366.7 million and $1.15 billion, respectively.

For the quarter, the New York-based apparel and accessories marketer reported $25 million in net income, down from $44 million. The drop was primarily the result of income taxes. The company fared better on the year, however: its’ net income stood at $97.1 million, up from $77.8 million.

Direct sales showed growth from 2006’s levels for both the quarter and the year. Fourth quarter catalog and Internet sales amounted to $126 million, up from $113.2 million, while annual direct sales were $377.4 million, compared with $308.6 million.

The fourth quarter and fiscal year contained a 14th and 53rd week, respectively. Both ended on Feb. 2.