Crown Crafts(US:CRWS) Globenewswire·2026-02-11 11:54Core Viewpoint - Crown Crafts, Inc. reported its third quarter fiscal year 2026 results, highlighting resilience in its business model despite challenging demand and higher tariffs [3][4]. Financial Performance - Net sales for the third quarter were $20.7 million, a decrease from $23.4 million in the same period last year, reflecting a decline of approximately 11.5% [4][10]. - Gross profit was $4.9 million, down from $6.1 million year-over-year, resulting in a gross margin of 23.5%, compared to 26.1% in the prior-year quarter [4][10]. - Net income increased to $1.5 million from $0.9 million in the prior-year quarter, indicating a growth of approximately 68% [10][14]. Expenses and Income - Marketing and administrative expenses rose by $0.6 million to $5.0 million due to severance expenses related to operational consolidation [5][10]. - Other income increased by $2.5 million from insurance proceeds related to a recent acquisition, contributing a net impact of $2.1 million to income before income tax [5][10]. Dividend Announcement - The Board of Directors declared a quarterly cash dividend of $0.08 per share, scheduled for payment on April 3, 2026 [6][10]. Future Outlook - The company plans to relaunch Manhattan Toy's Groovy Girls line and is focused on internal product development and managing expenses to enhance long-term shareholder value [3][10].