Financial Data and Key Metrics Changes - Net sales for Q2 fiscal 2025 were $24.5 million, an increase from $24.1 million in the prior year quarter, primarily due to the Baby Boom acquisition which contributed $3.4 million [8][9] - Gross profit margin improved to 28.4% from 27.3% a year earlier, reflecting a slight change in product mix despite higher lease costs [8] - Net income for the quarter was $860,000 or $0.08 per diluted share, down from $1.8 million or $0.18 per diluted share in the prior year quarter [9] Business Line Data and Key Metrics Changes - The Baby Boom acquisition positively impacted sales, contributing $3.4 million, while legacy businesses experienced declines, particularly due to the loss of a bid program at a major retailer [8][9] - Marketing and administrative expenses rose to $5.4 million, up from $4 million in the prior year quarter, increasing as a percentage of net sales from 16.7% to 22.3% [9] Market Data and Key Metrics Changes - The acquisition of Baby Boom is expected to enhance the company's presence in the toddler segment and expand product offerings, particularly in diaper bags [6] - Consumer sentiment is improving, with the University of Michigan's Consumer Sentiment Index reaching its highest level since April, which may positively influence purchasing power [6] Company Strategy and Development Direction - The company is focused on integrating the Baby Boom brand into its operations and exploring cross-selling opportunities among its brands [13] - Strategic evaluation of warehouse options is ongoing, with plans for consolidation expected in fiscal 2026 [13] - The company is not currently looking for additional acquisitions but is focused on absorbing the recent acquisition and managing costs [30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the upcoming holiday season and the potential for increased revenues due to the Baby Boom acquisition and improving macroeconomic conditions [6][13] - The company is actively managing its cost structure while aiming to capture market share as the economic environment improves [13] Other Important Information - Cash and cash equivalents at the end of Q2 were $2 million, up from $1.1 million at the end of Q1 and $829,000 at the end of fiscal 2024 [10] - The company paid a regular dividend of $0.08 per share and declared the next dividend to be paid in January [11] Q&A Session Summary Question: Status of warehouse consolidation - Management is currently considering three locations and plans to narrow it down to one or two by the end of the fiscal year [15] Question: Feedback on Manhattan Toy products in Walmart - Sell-through of Manhattan Toy products in Walmart is performing well, particularly in better-performing stores [16] Question: Improvement of Manhattan Toy margins - Margins are improving as new products are developed and manufacturers are switched [17] Question: Update on Baby Boom licenses - All licenses are performing well, with Bluey being particularly popular [23] Question: Sourcing strategy and impact of tariffs - Most products are sourced from China, with ongoing evaluations of other countries due to potential tariff impacts [38][39]

Financial Performance - Net sales for Q2 fiscal 2025 were $24.5 million, a slight increase from $24.1 million in the prior-year quarter, driven by the acquisition of Baby Boom which contributed $3.4 million in net sales[1][3] - Gross profit margin improved to 28.4% in Q2 fiscal 2025, up from 27.3% in the same period last year, primarily due to product mix changes[1][4] - Net income for Q2 fiscal 2025 was $860,000, or $0.08 per diluted share, compared to $1.8 million, or $0.18 per diluted share in the prior-year quarter, impacted by $788,000 in acquisition-related costs[1][4] Acquisition of Baby Boom - The company acquired Baby Boom Consumer Products, Inc. on July 19, 2024, which contributed $3.4 million in net sales during the quarter[2][3] - Marketing and administrative expenses increased to $5.4 million in Q2 fiscal 2025, up from $4.0 million in the prior-year quarter, including $788,000 related to the Baby Boom acquisition[4] - Total assets increased to $99.35 million as of September 29, 2024, up from $82.71 million at the end of the previous fiscal year, driven by the acquisition of Baby Boom[10] - Long-term debt rose to $18.76 million as of September 29, 2024, compared to $8.11 million at the end of the previous fiscal year, reflecting financing for the Baby Boom acquisition[10] Dividends - The company declared a quarterly cash dividend of $0.08 per share of Series A common stock, payable on January 3, 2025[5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 29, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to_____ Commission File No. 1-7604 Crown Crafts, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation) (I.R.S. ...

Crown Crafts, Inc. (CRWS) reported a loss per share of 3 cents in the first quarter of fiscal 2025 against the year-ago quarter's earnings of 4 cents per share. Revenues in Detail Crown Crafts registered revenues of $16.2 million in the fiscal first quarter, down 5.3% year over year. Per management, the decrease was primarily due to a major retailer reducing inventory levels and the loss of a program at another major retailer. Segment Details Crown Crafts derives revenues from two segments — Bedding, blanke ...

Crown Crafts, Inc. (NASDAQ:CRWS) Q1 2025 Earnings Conference Call August 15, 2024 9:00 AM ET Company Participants John Beisler - SVP, Three Part Advisors Olivia Elliott - President and CEO Craig Demarest - VP and CFO Conference Call Participants Douglas Ruth - Lenox Financial Services Josh Peters - Morgan Dempsey Operator Good day, and welcome to the Crown Crafts, Inc. First Quarter Fiscal Year 2025 Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event ...

Exhibit 99.1 For immediate release August 14, 2024 Crown Crafts Announces Financial Results for First Quarter Fiscal 2025 Gonzales, Louisiana – Crown Crafts, Inc. (NASDAQ-CM: CRWS) (the "Company") today reported results for the first quarter of fiscal year 2025, which ended June 30, 2024. First Quarter Summary ● Net sales of $16.2 million, compared with $17.1 million in the prior-year quarter ● Gross profit was 24.5% of net sales in the current quarter, 27.7% in the prior-year quarter ● Net loss of $322,000 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to_____ Commission File No. 1-7604 Crown Crafts, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation) (I.R.S. Empl ...

"We are excited to extend our 20-year-plus relationship with Crown Crafts by providing this latest financing," said Mike Hudgens, president of CIT Commercial Services. "Their acquisition of the assets of Baby Boom Consumer Products is another milestone in Crown Crafts' growth trajectory and we look forward to continuing to serve their financing needs in the future." Crown Crafts, Inc. designs, markets and distributes infant, toddler and juvenile consumer products. Founded in 1957, Crown Crafts is one of Ame ...

GONZALES, La., July 22, 2024 (GLOBE NEWSWIRE) -- Crown Crafts, Inc. (NASDAQ-CM: CRWS) ("Crown Crafts" or the "Company") today announced that it has acquired substantially all of the assets of Baby Boom Consumer Products, Inc. ("Baby Boom"), a leading provider in the toddler bedding and diaper bag categories. Baby Boom designs, sources, markets and sells high-quality and functional toddler bedding and diaper bags. In addition to its own brands, Baby Boom offers licensed products, including Bluey, Ms. Rachel, ...

Core Insights - Crown Crafts reported a full-year revenue of $87.6 million for fiscal 2024, reflecting a 16.8% increase compared to fiscal 2023 [7] - The company experienced a significant growth in the Bibs, toys, and disposable products segment, with revenues reaching $55.6 million, up 45.1% year over year [8] - However, the Bedding, blankets, and accessories segment saw a decline in revenues, totaling $32 million, down 12.8% from the previous fiscal year [17] Revenue Analysis - Full-year fiscal 2024 revenues were $87.6 million, indicating a 16.8% uptick from the comparable fiscal 2023 period [7] - Revenues in the Bibs, toys, and disposable products segment totaled $55.6 million in fiscal 2024, up 45.1% from fiscal 2023 [8] - The Bedding, blankets, and accessories segment reported revenues of $32 million, down 12.8% from fiscal 2023 [17] Profitability Metrics - Income from operations in the fiscal fourth quarter was $1.3 million, up 36.8% year over year, while for fiscal 2024, it was $6.9 million, down 3.9% from fiscal 2023 [5] - Gross profit for fiscal 2024 was $23 million, up 15.9% from the previous year, with a gross margin of 26.2%, down 20 basis points from 26.4% [9] - Net income in the fiscal fourth quarter was $1 million, up 21.3% year over year, but for fiscal 2024, net income was $4.9 million, down 13.4% from fiscal 2023 [15] Expense Overview - Marketing and administrative expenses during fiscal 2024 were $16.1 million, up 27.3% from the comparable fiscal 2023 period [4] - The increase in expenses was primarily due to costs incurred by Manhattan and Manhattan Toy Europe Limited, which were $3.9 million higher than the prior fiscal year [4] Cash Flow and Debt Management - Cumulative net cash provided by operating activities at the end of fiscal 2024 was $7.1 million compared to $7.7 million a year ago [6] - Total long-term debt at the end of fiscal 2024 was $8.1 million, down from $12.7 million at the end of fiscal 2023 [10] - Crown Crafts exited fiscal 2024 with cash and cash equivalents of $0.8 million, down from $1.7 million at the end of fiscal 2023 [25] Segment Performance - The Bibs, toys, and disposable products segment showed robust performance, aided by revenues from Manhattan Toy, which generated net sales of $18.5 million [8] - The decline in the Bedding, blankets, and accessories segment's revenues was attributed to ongoing inflationary pressures affecting consumer discretionary spending [11]