Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 3, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 1-7604 Crown Crafts, Inc. (Exact name of registrant as specified in its charter) Delaware 58-0678148 (State of Incorporation) (I.R.S. Employer Identification No.) 916 S. ...

Crown Crafts, Inc. (NASDAQ:CRWS) Q3 2022 Earnings Conference Call February 9, 2022 11:00 AM ET Company Participants Craig Demarest - VP and CFO Randall Chestnut - Chairman and CEO Olivia Elliott - President & COO Conference Call Participants Justyn Putnam - Talanta Investment Group Max Batzer - Wynnefield Capital Dennis Scannell - Rutabaga Capital Operator Good morning. And welcome to the Crown Crafts Incorporated Third Quarter Fiscal Year 2022 Conference Call. All participants will be in listen-only mode ...

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 December 26, 2021 ☐ 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) Delaware 58-0678148 (IRS Employer Identification No.) (State or o ...

Crown Crafts, Inc. (NASDAQ:CRWS) Q2 2022 Results Conference Call November 10, 2021 2:00 PM ET Company Participants Randall Chestnut - Chairman and CEO Olivia Elliott - President & Chief Operating Officer Craig Demarest - Vice President and Chief Financial Officer Conference Call Participants Linda Bolton-Weiser - D.A. Davidson Ralph Marash - First Manhattan Company Operator Hello, ladies and gentlemen, and welcome to the Crown Crafts, Inc. Investor Conference Call. Your host for today's call is Mr. Randall ...

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 26, 2021 ☐ 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) Delaware 58-0678148 incorporation)(IRS Employer Identification N ...

Crown Crafts, Inc. (NASDAQ:CRWS) Q2 2021 Earnings Conference Call August 11, 2021 2:00 PM ET Company Participants Randall Chestnut - Chairman and CEO Olivia Elliott - President & Chief Operating Officer Craig Demarest - Vice President and Chief Financial Officer Conference Call Participants Linda Bolton Weiser - D.A. Davidson Operator Hello, ladies and gentlemen, and welcome to the Crown Crafts, Incorporated Investor Conference Call. Your host for today's call is Mr. Randall Chestnut, Chairman and CEO Join ...

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 27, 2021 ☐ 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) Delaware 58-0678148 (State or other jurisdiction of incorpo ...

Crown Crafts, Inc. (NASDAQ:CRWS) Q4 2021 Earnings Conference Call June 9, 2021 11:00 AM ET Company Participants Randall Chestnut - Chairman of the Board and Chief Executive Officer Craig Demarest - Vice President and Chief Financial Officer Olivia Elliott - President and Chief Operating Officer Conference Call Participants Linda Weiser - D.A. Davidson & Co. John Adessa - Pinnacle Operator Welcome to the Crown Crafts, Inc Fourth Quarter Fiscal Year 2021 Conference Call. Your host for today's call is Randall ...

Sales Performance - Sales to international customers represented 3% of total gross sales in fiscal year 2021, down from 6% in fiscal year 2020[24] - Sales of products marketed under the Company's trademarks accounted for 38% of total gross sales in fiscal year 2021, compared to 36% in fiscal year 2020[38] - Licensed products represented 41% of gross sales in fiscal year 2021, including 34% from agreements with The Walt Disney Company[39] - Walmart Inc. accounted for 43% of gross sales in fiscal year 2021, while Amazon.com, Inc. represented 25%[41] - Total net sales for 2021 were $79.2 million, an increase of $5.8 million or 7.9% compared to 2020, driven by higher sell-through at major retailers[106] - Sales of bedding, blankets, and accessories increased by $9.0 million, while sales of bibs, bath, developmental toys, feeding, baby care, and disposable products decreased by $3.2 million[106] - Approximately 68% of the Company's gross sales in fiscal year 2021 were attributed to its top two customers, indicating a significant reliance on these clients[118] - Total net sales increased to $79,164,000 in fiscal year 2021, up 7.6% from $73,396,000 in fiscal year 2020[213] - Sales of bedding, blankets, and accessories rose to $47,036,000, a significant increase of 23.5% from $38,065,000 in the previous year[213] - Sales of bibs, bath, and disposable products decreased to $32,128,000, down 9.9% from $35,331,000 in fiscal year 2020[213] Financial Position - Gross profit for 2021 was $24.1 million, representing 30.4% of net sales, up from 29.4% in 2020, primarily due to a favorable customer and product mix[107] - The effective tax rate for the Company was 24.0% for both fiscal years ended March 28, 2021, and March 29, 2020[110] - The effective tax rate (ETR) on continuing operations was 21.3% for fiscal year 2021, compared to 15.5% for fiscal year 2020[117] - Total current assets increased to $41,470 thousand as of March 28, 2021, compared to $37,041 thousand as of March 29, 2020, marking an increase of 11.6%[193] - Total liabilities increased to $16,217 thousand as of March 28, 2021, compared to $14,737 thousand as of March 29, 2020, reflecting a rise of 10.1%[194] - Total shareholders' equity decreased to $41,865 thousand from $42,436 thousand year-over-year, indicating a decline of 1.3%[194] - Net income for fiscal year 2021 was $6,081,000, a decrease of 7.3% from $6,561,000 in fiscal year 2020[201] - The company incurred a loss from impairment of long-lived assets amounting to $2,234,000 in fiscal year 2021[201] - Basic earnings per share decreased to $0.60 from $0.65 year-over-year, reflecting a 7.7% decline[197] Operational Challenges - The Company closed Carousel Designs due to high costs and declining sales, ceasing operations on May 21, 2021[20] - The decline in the birthrate in the United States has been steady, which could lead to reduced demand for the Company's products and increased order cancellations[58] - The Company faces competitive pressures from larger competitors with greater financial resources, which could negatively impact its sales and revenues[56] - Economic conditions, including rising freight costs and raw material prices, could adversely affect the Company's profitability if these costs cannot be passed on to customers[64] - The COVID-19 pandemic has disrupted the Company's supply chain, leading to increased freight costs and shipping delays[121] - The Company's operations are highly dependent on its distribution network, primarily importing products from China, which poses risks of disruptions that could impact sales[74] - The Company relies on foreign contract manufacturers, primarily in China, which exposes it to risks related to international trade regulations and potential disruptions[66] Compliance and Governance - The Company is subject to income tax examinations that could result in adjustments to its effective tax rate, potentially affecting its operating results[76] - The Company must comply with strict product safety regulations, and any recalls or product liability claims could adversely affect its reputation and operating results[62] - The Company is subject to evolving government regulations regarding e-commerce, which could impact its operations and financial results[84] - The company has no significant disagreements with accountants on accounting and financial disclosure[145] - The independent auditor's report confirms the integrity of the financial statements, enhancing stakeholder confidence[184] - The company has a structured approach to financial reporting, ensuring compliance with the Securities Exchange Act of 1934[177] Cash Flow and Financing - Net cash provided by operating activities increased from $8.5 million in fiscal year 2020 to $8.7 million in fiscal year 2021[124] - Net cash used in investing activities rose to $733,000 in fiscal year 2021 from $678,000 in fiscal year 2020[125] - The Company had no balance owed on its revolving line of credit as of March 28, 2021, with $26.0 million available based on eligible accounts receivable and inventory[130] - The company repaid $22,290,000 under its revolving line of credit, compared to $50,955,000 in the previous year[201] - The financing agreement with CIT was amended to extend the maturity date to July 11, 2025, and adjust interest rates to prime minus 1.0% or LIBOR plus 1.5%[129] Employee and Management - The Company had 131 employees as of May 31, 2021, with no union representation[31] - The management has implemented various employment agreements and compensation plans to align with corporate governance and operational needs[10.19] - The company established an allowance for inventory valuation, which may impact financial results if actual results differ from management's estimates[142] - The allowance for customer deductions increased from $530,000 in the previous year to $723,000 for the year ended March 28, 2021[168] - As of March 28, 2021, the company concluded that its internal control over financial reporting was effective[148] - The company’s management conducted an evaluation of its disclosure controls and procedures, concluding they are effective as of the end of the reporting period[147]

Crown Crafts, Inc. (NASDAQ:CRWS) Q3 2021 Earnings Conference Call February 10, 2021 2:00 PM ET Company Participants Olivia Elliott - President & COO Randall Chestnut - President & CEO Conference Call Participants Linda Bolton-Weiser - D.A. Davidson & Co. Operator Hello, ladies and gentlemen, and welcome to the Crown Crafts, Inc. investor conference call. Your host for today's call is Mr. Randall Chestnut, Chairman and Chief Executive Officer. [Operator Instructions]. Any reproduction of this call in whole o ...