Shares of Crown Crafts, Inc. (CRWS) have gained 5.7% since the company released its results for the quarter ended Sept. 28, 2025, outperforming the S&P 500 Index’s 1.9% decline over the same period. However, over the past month, the stock lost 3.1%, lagging the S&P 500’s 0.1% rise.CRWS’ Earnings SnapshotCrown Crafts’ second-quarter fiscal 2026 results showed mixed top-line performance but stronger earnings. Net sales declined 3.1% to $23.7 million from $24.5 million a year earlier, weighed down by a 13.2% d ...

Financial Data and Key Metrics Changes - Second quarter net sales were $23.7 million, down from $24.5 million in the same quarter of fiscal year 2025, primarily due to a $1.6 million decline in bedding and diaper bag sales, partially offset by an $800,000 increase in sales of bibs, toys, and disposable products [5][6] - Gross profit was $6.6 million, reflecting a margin of 27.7%, compared to 28.4% in the prior year, mainly due to increased tariff costs on products imported from China [5][6] - GAAP net income for the second quarter was $1.2 million, or $0.11 per diluted share, up from $0.08 in the year-ago quarter, driven by reduced marketing and administrative expenses [6][8] Business Line Data and Key Metrics Changes - Sales of bedding and diaper bags decreased significantly, attributed to a reduction in the number of items included in a major retailer's program [5] - Increased sales in bibs, toys, and disposable products were noted across various distribution channels, contributing positively to overall sales [5][13] Market Data and Key Metrics Changes - The company is experiencing challenges due to the ongoing tariff landscape, particularly on goods sourced from China, which is affecting costs and margins [3][4] - The company is encouraged by recent trade talks between the U.S. and China, which may provide opportunities for growth [3] Company Strategy and Development Direction - The company is consolidating some internal operations to reduce payroll expenses and eliminate redundant costs, which is expected to enhance operational efficiency [4][29] - The management is focused on renewing licensing agreements and is optimistic about future product launches [4] - The company is adapting its strategies to offset the impact of tariffs and is positioning itself to capitalize on growth opportunities as market conditions evolve [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the macro challenges, particularly the elevated tariff environment, but expressed confidence in the company's ability to navigate these issues and achieve slight increases in net income [9] - The company is actively seeking new sources for diaper bags to mitigate tariff impacts and is optimistic about the potential for international sales growth, particularly in Europe [42][49] Other Important Information - Cash and cash equivalents totaled $810,000, up from $521,000 at the end of fiscal 2025, while inventory remained stable at $32.6 million [7][8] - The company declared a $0.08 per share cash quarterly dividend, continuing its tradition of returning value to shareholders [8] Q&A Session Summary Question: Increase in sales of bibs, toys, and disposable products - Management noted that the increase was across various product lines and retailers, indicating broad-based growth [13] Question: Commentary on inventory levels - Management expressed comfort with current inventory levels, despite shifts in retailer program resets [14][15] Question: Feedback on the Manhattan Toy website - Positive feedback was received regarding the website's design and user experience [17][18] Question: Sales performance at Legoland - Sales at Legoland were reported as good, although the park opened later than planned [19][20] Question: Advertising budget and results - Management indicated that while sales growth was slower than expected, investing in advertising is crucial for driving future sales [21][22] Question: Diaper bag business outlook - Management acknowledged struggles due to tariffs but emphasized ongoing efforts to find new production sources [42][43] Question: International sales performance - International sales, particularly in Europe, were highlighted as a bright spot, with new distributor agreements being signed [49][52]

Financial Performance - Net sales for Q2 FY2026 were $23.7 million, a decrease of 3.2% from $24.5 million in Q2 FY2025[6] - Gross profit margin decreased to 27.7% from 28.4% in the prior year, primarily due to increased tariff costs[8] - Net income increased to $1.2 million or $0.11 per share, up from $0.9 million or $0.08 per share in the prior year quarter, representing a 33.3% increase in net income[7] Expenses and Cost Management - Marketing and administrative expenses improved to 19.9% of net sales, down from 22.3% in the prior year, reflecting a reduction of $0.7 million[9] - The company is consolidating internal operations to eliminate redundant costs and achieve additional savings[5] - The company continues to seek opportunities to reduce costs while focusing on increasing sales and market share[5] Sales Performance - Sales of bedding and diaper bags decreased by $1.6 million, while sales of bibs, toys, and disposable products increased by $0.8 million[6] Assets and Liabilities - Total current assets decreased to $54.1 million from $55.3 million as of March 30, 2025[18] - Total liabilities decreased to $39.1 million from $41.5 million as of March 30, 2025[18] Dividends - The company declared a quarterly cash dividend of $0.08 per share, payable on January 2, 2026[10]

Sales Performance - Net sales for the three months ended September 28, 2025, were $23.7 million, a decrease of $765 thousand or 3.1% compared to $24.5 million for the same period in 2024[59] - For the six months ended September 28, 2025, net sales were $39.2 million, a decrease of $1.5 million or 3.7% compared to $40.7 million for the same period in 2024[60] - Sales of bedding and diaper bags decreased by $1.6 million, while sales of bibs, toys, and disposable products increased by $0.8 million during the three-month period[59] Profitability and Margins - Gross profit margin for the three-month period ended September 28, 2025, was 27.7%, down from 28.4% in the prior year, primarily due to increased tariff costs on imports from China[61] - Marketing and administrative expenses decreased to 19.9% of net sales for the three-month period ended September 28, 2025, from 22.3% in the prior year[63] Cash Flow and Liquidity - Net cash provided by operating activities decreased from $7.0 million for the six-month period ended September 29, 2024, to $4.4 million for the same period in 2025[67] - The Company believes its cash flow from operations and available funds under the revolving line of credit will be sufficient to meet liquidity needs[74] Debt and Credit - As of September 28, 2025, the balance on the revolving line of credit was $10.7 million, with $13.7 million available based on eligible accounts receivable and inventory[70] - As of September 28, 2025, the Company had $16.3 million of indebtedness at a variable interest rate, with a potential annual net income decrease of approximately $122 thousand for each 1% increase in interest rates[76] - The Company must maintain Excess Availability of at least $4.0 million or the sum of the term loan balance plus $1.0 million until the term loan is paid in full[73] - The fixed charge coverage ratio has been reinstated but will not be tested if the Company complies with the Availability Covenant in the preceding fiscal quarter[73] - The Company has complied with the Excess Availability requirements as of September 28, 2025[73] External Factors and Risks - The company is evaluating the potential impact of increased tariffs on imports from China, which have affected product costs and shipments[57] - The Company sources products primarily from foreign manufacturers, with significant exposure to commodity price risks related to cotton, oil, and labor in China[77] - The Company is exposed to risks from fluctuations in the Chinese currency, which could increase the cost of finished goods despite payments being made in U.S. dollars[77] - The Company's financial performance is influenced by various external factors, including economic and regulatory conditions[74] Customer Concentration - Approximately 66% of the Company's gross sales in fiscal year 2025 were generated from its top two customers[78] - 50% of the Company's gross sales in fiscal year 2025 consisted of licensed products, with 21% of those sales linked to agreements with affiliated companies of the Walt Disney Company[78]

Core Viewpoint - Crown Crafts, Inc. reported a net income growth despite a slight decline in overall sales, indicating resilience in navigating industry challenges, particularly due to tariff pressures on margins [2][4]. Financial Performance - Net sales for the second quarter of fiscal 2026 were $23.7 million, down from $24.5 million in the same quarter of the previous year [4][10]. - Gross profit margin decreased to 27.7% from 28.4% year-over-year, primarily due to increased tariff costs on imported products [5][10]. - Net income increased to $1.2 million, or $0.11 per share, compared to $0.9 million, or $0.08 per share, in the prior year quarter [10]. Cost Management - The company successfully reduced marketing and administrative expenses by $0.7 million, representing 19.9% of net sales, down from 22.3% in the previous year [6][10]. - Ongoing efforts to consolidate internal operations aim to eliminate redundant costs and achieve further savings [3][4]. Dividend Declaration - The Board of Directors declared a quarterly cash dividend of $0.08 per share, payable on January 2, 2026, to stockholders of record as of December 12, 2025 [7][10]. Strategic Focus - The company is focused on leveraging prior acquisitions, expanding product lines, and utilizing pricing strategies to enhance long-term shareholder value as consumer demand stabilizes [4][10].

Core Viewpoint - Crown Crafts, Inc. is set to release its second quarter fiscal 2026 operational results on November 12, 2025, before market opening, with a teleconference scheduled for discussion [1] Company Overview - Crown Crafts, Inc. designs, markets, and distributes a range of infant, toddler, and juvenile consumer products, and is one of the largest producers in the U.S. for items such as infant bedding, diaper bags, and toys [4] - The company operates through subsidiaries NoJo Baby & Kids, Inc. and Sassy Baby, Inc., offering products under various trademarks and private label programs [4] - Sales channels include mass merchants, chain stores, specialty stores, and direct-to-consumer through its websites [4] Teleconference Details - The teleconference will be hosted by Olivia W. Elliott, President and CEO, and Claire K. Spencer, Vice President and CFO, at 8:00 a.m. Central Standard Time [1] - Interested participants can join by calling (844) 861-5504 or listen online via the company's website [2] - A replay of the teleconference will be available for one hour after the call until 4:00 p.m. Central Standard Time on February 10, 2026 [3]

Core Viewpoint - Crown Crafts, Inc. reported a decline in revenue and earnings for the first quarter of fiscal 2026, primarily due to tariff pressures and inventory management challenges, while the stock has shown a modest gain since the earnings report [1][2][4]. Revenue and Earnings Performance - Crown Crafts posted net sales of $15.5 million, down 4.5% from $16.2 million in the prior-year period [2] - Gross profit decreased by 11.3% to $3.5 million, representing 22.7% of sales compared to 24.5% a year ago [2] - The company reported a net loss of $1.1 million, or $0.10 per share, compared to a net loss of $0.3 million, or $0.03 per share, in the same quarter last year [2] Segment Results - Sales of bedding and diaper bags increased by 8.6% year over year to $6.8 million, while sales of bibs, toys, and disposable products declined by 12.8% to $8.7 million [3] Key Business Metrics - Gross margin slipped by 180 basis points year over year due to higher costs of imported goods from China [4] - Marketing and administrative expenses rose by 10.6% to $4.7 million, increasing to 30.5% of sales from 26.3% a year earlier [4] - Interest expense surged by 180.2% to $0.3 million from $0.1 million in the prior-year period [4] Balance Sheet Overview - Inventories stood at $31.6 million as of June 29, 2025, up from $27.8 million at fiscal year-end [5] - Cash and equivalents declined to $0.2 million from $0.5 million at fiscal year-end [5] - Long-term debt fell to $11.9 million from $16.5 million at fiscal year-end [5] - Shareholders' equity slipped to $37.9 million from $39.6 million at fiscal year-end [5] Management Commentary - Management highlighted tariffs as a key challenge, with CEO Olivia Elliott noting consumer uncertainty and supplier disruption [6] - The Baby Boom acquisition contributed $2.1 million in sales during the quarter [6] - Price increases are being implemented to offset tariff impacts, with full effects expected by the end of September [6] Future Outlook - Management expressed cautious optimism regarding July sales trends and the renewal and expansion of the Disney licensing agreement [7] - CFO Claire Spencer emphasized the company's financial flexibility, with $12.2 million available under its revolving line of credit [7] - Management indicated that restocking by retailers should aid demand in upcoming quarters [11] Other Developments - Crown Crafts declared a quarterly dividend of $0.08 per share, payable on October 3, 2025 [12] - The company announced the extension of its Disney licensing agreement, expanding product categories and geographic reach [12] - Progress has been made in stabilizing the Manhattan Toy brand, with new product lines gaining traction at major retailers [12]

Financial Data and Key Metrics Changes - First quarter net sales were $15.5 million, a 4.5% decrease compared to the previous year, driven by declines in sales of bibs, toys, and disposable products, partially offset by increases in bedding and diaper bags due to the Baby Boom acquisition [6][7] - Gross profit decreased by $448,000 from the prior year, with gross profit margin declining from 24.5% to 22.7% of net sales, primarily due to increased tariff costs on imports from China [7][8] - GAAP net loss for the first quarter was $1.1 million, or a $0.10 loss per diluted share, attributed to increased tariffs and inventory shortages [8][9] - Cash and cash equivalents totaled $227,000, down from $521,000 at the end of the previous fiscal year, while inventories increased by 13.6% to $31.6 million [9][10] Business Line Data and Key Metrics Changes - Sales of bibs, toys, and disposable products saw a decline, while sales of bedding and diaper bags increased due to the Baby Boom acquisition [6][7] - Marketing and administrative expenses rose from 26.3% to 30.5% of net sales, reflecting increased costs associated with the Baby Boom acquisition and higher advertising expenses [7][8] Market Data and Key Metrics Changes - The company noted a significant reduction in inventory levels at major retailers, with one retailer's supply dropping from ten weeks to one to two weeks, indicating potential pent-up demand [31][32] Company Strategy and Development Direction - The company is focused on navigating the challenges posed by tariffs and inflation while executing its long-term strategic plan, including expanding its product portfolio and renewing its license agreement with Disney [4][11] - The acquisition of Baby Boom is expected to drive growth, and the company is optimistic about sales trends observed in July [4][11] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the fiscal year, despite ongoing challenges from tariffs and inflation impacting consumer spending [4][11] - The company is hopeful that price increases implemented in response to tariffs will help restore profitability [17][36] Other Important Information - The company declared an $0.08 per share cash dividend, maintaining its commitment to returning value to shareholders [10] Q&A Session Summary Question: Target's Direct Sourcing Strategy - Management hopes that Target's potential reduction in direct sourcing could create opportunities for Crown Crafts to regain programs previously taken over by Target [16] Question: Profitability with 30% Tariff - Management is optimistic about mitigating tariff impacts through price increases and believes profitability can be achieved in the future [17] Question: Expanding Manhattan Toy Sales Overseas - Management sees opportunities for expanding Manhattan Toy sales overseas, especially after consolidating distribution channels [19] Question: Promotion of Products Featured on Netflix - Management confirmed that they are promoting products featured in popular shows and leveraging social media for marketing [20][21] Question: Stabilization of Manhattan Toy Operations - Management believes that operations at Manhattan Toy have stabilized and are seeing improvements in product lines [22][23] Question: Sales Feedback from LEGOLAND Shanghai - Initial sales for plush figures at LEGOLAND Shanghai exceeded expectations, indicating strong demand [24] Question: Sales Performance of Stella Dolls - Management reported that sales of redesigned Stella dolls are performing well, despite previous inventory challenges [25][26] Question: Dividend Sustainability - Management expressed confidence in the company's cash flow and balance sheet, indicating no immediate concerns regarding the dividend [36]

Core Viewpoint - Crown Crafts, Inc. reported a modest decline in net sales and gross profit for the first quarter of fiscal year 2026, primarily due to the impact of tariffs and inventory shortages, despite the contribution from the Baby Boom acquisition [3][4][5]. Financial Performance - Net sales decreased to $15.5 million for the three months ended June 29, 2025, down from $16.2 million for the same period in the prior year, representing a decrease of $734,000 or 4.5% [4][9]. - Gross profit fell by $448,000, resulting in a gross profit margin decrease from 24.5% to 22.7% of net sales compared to the prior year [5][9]. - The company reported a net loss of $1.10 million, or $0.10 per share, compared to a net loss of $0.3 million, or $0.03 per share, in the prior-year quarter [9][14]. Sales Breakdown - Sales of bedding and diaper bags increased by $540,000, while sales of bibs, toys, and disposable products decreased by $1.3 million [4]. - The Baby Boom acquisition contributed $2.1 million in net sales during the quarter, but overall sales were negatively impacted by inventory shortages due to high tariffs [3][4]. Expenses - Marketing and administrative expenses rose by $454,000, increasing from 26.3% of net sales to 30.5% of net sales compared to the prior year [6][9]. Dividend Announcement - The Board of Directors declared a quarterly cash dividend of $0.08 per share on the Company's Series A common stock, payable on October 3, 2025, to stockholders of record as of September 12, 2025 [7][9]. Company Overview - Crown Crafts, Inc. designs, markets, and distributes a variety of infant, toddler, and juvenile consumer products, and is one of America's largest producers in this sector [9][10].

[Introduction](index=1&type=section&id=Introduction) [Announcement](index=1&type=section&id=Announcement) Crown Crafts, Inc. announced its financial results for the first quarter of fiscal year 2026, which concluded on June 29, 2025 - Crown Crafts, Inc. reported financial results for the first quarter fiscal year 2026, ending June 29, 2025[1](index=1&type=chunk)[2](index=2&type=chunk) [First Quarter Fiscal 2026 Summary](index=1&type=section&id=First%20Quarter%20Fiscal%202026%20Summary) [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Olivia Elliott noted that Q1 results aligned with fiscal year 2025 themes, highlighting the $2.1 million sales contribution from the Baby Boom acquisition, but also the persistent negative impact of tariffs on consumers and suppliers, leading to a modest decline in sales and gross profit - Baby Boom acquisition added **$2.1 million** in net sales during Q1 FY26[4](index=4&type=chunk) - Tariffs and uncertainty negatively impacted consumers and suppliers, leading to a modest decline in sales and gross profit[4](index=4&type=chunk) - Company strategy focuses on navigating the tariff environment, mitigating impact, and increasing sales and market share[4](index=4&type=chunk) [Key Financial Highlights](index=1&type=section&id=Key%20Financial%20Highlights) The first quarter saw a decrease in net sales to $15.5 million, a decline in gross profit percentage to 22.7%, and an increased net loss of ($1.10 million) or ($0.10) per share, primarily due to increased tariffs First Quarter Fiscal 2026 Key Financial Highlights | Metric | Q1 FY26 (June 29, 2025) | Q1 FY25 (June 30, 2024) | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $15.5 million | $16.2 million | ($0.7 million) | -4.5% | | Gross Profit % | 22.7% | 24.5% | -1.8% | -7.3% | | Net Loss | ($1.10 million) | ($0.3 million) | ($0.8 million) | -266.7% | | Loss Per Share | ($0.10) | ($0.03) | ($0.07) | -233.3% | - Q1 results reflect the impact of increased tariffs[7](index=7&type=chunk) - Declared quarterly dividend of **$0.08 per share** of Series A common stock[7](index=7&type=chunk) [Detailed Financial Results](index=1&type=section&id=Detailed%20Financial%20Results) [Net Sales Performance](index=1&type=section&id=Net%20Sales%20Performance) Net sales for Q1 FY26 decreased by 4.5% to $15.5 million from $16.2 million in the prior year, impacted by inventory shortages despite a $2.1 million contribution from the Baby Boom acquisition Net Sales Performance (Q1 FY26 vs Q1 FY25) | Metric | Q1 FY26 | Q1 FY25 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $15.5 million | $16.2 million | ($0.734 million) | -4.5% | - Baby Boom acquisition added **$2.1 million** in net sales[5](index=5&type=chunk) - Sales of bedding and diaper bags increased by **$540,000**, while sales of bibs, toys, and disposable products decreased by **$1.3 million**[5](index=5&type=chunk) - Sales across all categories were negatively affected by inventory shortages due to the company's strategy to minimize high tariff impacts[5](index=5&type=chunk) [Gross Profit Analysis](index=1&type=section&id=Gross%20Profit%20Analysis) Gross profit decreased by $448,000, resulting in a gross profit percentage decline to 22.7% from 24.5%, primarily due to increased tariff costs on imported products Gross Profit Performance (Q1 FY26 vs Q1 FY25) | Metric | Q1 FY26 | Q1 FY25 | Change | | :--- | :--- | :--- | :--- | | Gross Profit | $3,518 thousand | $3,966 thousand | ($448 thousand) | | Gross Profit Percentage | 22.7% | 24.5% | -1.8% | - Decrease in gross profit primarily due to increased tariff costs associated with products imported from China[6](index=6&type=chunk) [Marketing and Administrative Expenses](index=2&type=section&id=Marketing%20and%20Administrative%20Expenses) Marketing and administrative expenses increased by $454,000 to 30.5% of net sales, driven by higher costs from the Baby Boom acquisition and increased advertising expenditures Marketing and Administrative Expenses (Q1 FY26 vs Q1 FY25) | Metric | Q1 FY26 | Q1 FY25 | Change | | :--- | :--- | :--- | :--- | | Marketing and Administrative Expenses | $4,717 thousand | $4,263 thousand | $454 thousand | | As % of Net Sales | 30.5% | 26.3% | +4.2% | - Increased costs associated with the acquisition of Baby Boom and increased advertising costs contributed to the rise in expenses[8](index=8&type=chunk) [Corporate Actions](index=2&type=section&id=Corporate%20Actions) [Quarterly Cash Dividend](index=2&type=section&id=Quarterly%20Cash%20Dividend) The Board of Directors declared a quarterly cash dividend of $0.08 per share for Series A common stock, payable on October 3, 2025 - Quarterly cash dividend of **$0.08 per share** declared for Series A common stock[9](index=9&type=chunk) - Dividend payable on October 3, 2025, to stockholders of record on September 12, 2025[9](index=9&type=chunk) [Conference Call Details](index=2&type=section&id=Conference%20Call%20Details) Crown Crafts hosted a teleconference on August 13, 2025, to discuss Q1 results, with a replay available until November 13, 2025 - Teleconference held on August 13, 2025, at 8:00 a.m. CDT to discuss results[10](index=10&type=chunk) - Telephone replay available until November 13, 2025[10](index=10&type=chunk) [Company Information](index=2&type=section&id=Company%20Information) [About Crown Crafts, Inc.](index=2&type=section&id=About%20Crown%20Crafts,%20Inc.) Crown Crafts, Inc., founded in 1957, is a leading designer, marketer, and distributor of infant, toddler, and juvenile consumer products through various brands and channels - Crown Crafts, Inc. designs, markets, and distributes infant, toddler, and juvenile consumer products, founded in 1957[11](index=11&type=chunk) - Operates through wholly owned subsidiaries NoJo Baby & Kids, Inc. and Sassy Baby, Inc., marketing products under company-owned trademarks (Sassy®, Manhattan Toy®, NoJo®, Baby Boom®, Neat Solutions®) and licensed/private label programs[11](index=11&type=chunk) - Sales channels include mass merchants, large chain stores, juvenile specialty stores, value channel stores, grocery and drug stores, restaurants, wholesale clubs, internet-based retailers, and direct-to-consumers via company websites[11](index=11&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) The report contains forward-looking statements based on management's expectations, subject to various known and unknown risks including economic conditions, tariffs, and competition - Forward-looking statements are based on management's current expectations and involve known and unknown risks and uncertainties[12](index=12&type=chunk) - Key risks include general economic conditions, impact of U.S. tariffs, changes in interest rates, consumer spending, raw material prices, competition, retail environment, ability to integrate acquisitions, customer concentration, dependence on third-party suppliers (including foreign), and third-party licenses[12](index=12&type=chunk) - The Company does not undertake to update forward-looking statements[12](index=12&type=chunk) [Contact Information](index=3&type=section&id=Contact%20Information) Contact details are provided for Crown Crafts' VP and CFO, Claire Spencer, and for Investor Relations via Three Part Advisors - Contact for Crown Crafts: Claire Spencer, VP and CFO (cspencer@crowncrafts.com)[13](index=13&type=chunk) - Investor Relations contact: Three Part Advisors (Steven Hooser, John McNamara - jmcnamara@threepa.com)[13](index=13&type=chunk) [Financial Statements](index=4&type=section&id=Financial%20Statements) [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) The consolidated statements of operations show a net loss of ($1.104 million) for Q1 FY26, significantly higher than the ($0.322 million) loss in Q1 FY25, driven by decreased net sales, lower gross profit percentage, and increased marketing and administrative expenses Consolidated Statements of Operations (Selected Data) | Metric (in thousands) | Three-Month Period Ended June 29, 2025 | Three-Month Period Ended June 30, 2024 | | :--- | :--- | :--- | | Net sales | $15,478 | $16,212 | | Gross profit | $3,518 | $3,966 | | Gross profit percentage | 22.7% | 24.5% | | Marketing and administrative expenses | $4,717 | $4,263 | | Loss from operations | ($1,199) | ($297) | | Loss before income tax benefit | ($1,383) | ($386) | | Income tax benefit | ($279) | ($64) | | Net loss | ($1,104) | ($322) | | Basic and diluted loss per share | ($0.10) | ($0.03) | | Weighted Average Shares Outstanding (Basic & Diluted) | 10,570 | 10,311 | [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of June 29, 2025, total assets were $76.023 million, down from $81.154 million on March 30, 2025, with key changes in cash, accounts receivable, and inventories Consolidated Balance Sheets (Selected Data) | Metric (in thousands) | June 29, 2025 | March 30, 2025 | | :--- | :--- | :--- | | Cash and cash equivalents | $227 | $521 | | Accounts receivable, net | $17,204 | $24,508 | | Inventories | $31,572 | $27,800 | | Total current assets | $51,242 | $55,303 | | Total assets | $76,023 | $81,154 | | Total current liabilities | $17,797 | $15,505 | | Long-term debt | $11,890 | $16,512 | | Shareholders' equity | $37,869 | $39,619 | | Total liabilities and shareholders' equity | $76,023 | $81,154 |