Crown Crafts Inc
NASDAQ:CRWS
Crown Crafts Inc
Crown Crafts, Inc. engages in designing, marketing, and distribution of infant, toddler, and juvenile products. The company is headquartered in Gonzales, Louisiana and currently employs 131 full-time employees. The company went IPO on 2001-10-16. The Company’s infant, toddler and juvenile products segment consists of infant and toddler bedding and blankets, bibs, soft bath products, disposable products, developmental toys and accessories. The firm's primary products includes infant and toddler bedding, blankets and swaddle blankets, nursery and toddler accessories, room decor, reusable and disposable bibs, burp cloths, hooded bath towels and washcloths, reusable and disposable placemats and floor mats, disposable toilet seat covers and changing mats, developmental toys, feeding and care goods, and other infant, toddler and juvenile soft goods. The firm operates indirectly through its subsidiaries, NoJo Baby & Kids, Inc. (NoJo) and Sassy Baby, Inc. (Sassy), in the infant, toddler and juvenile products segment within the consumer products industry.
Crown Crafts, Inc. engages in designing, marketing, and distribution of infant, toddler, and juvenile products. The company is headquartered in Gonzales, Louisiana and currently employs 131 full-time employees. The company went IPO on 2001-10-16. The Company’s infant, toddler and juvenile products segment consists of infant and toddler bedding and blankets, bibs, soft bath products, disposable products, developmental toys and accessories. The firm's primary products includes infant and toddler bedding, blankets and swaddle blankets, nursery and toddler accessories, room decor, reusable and disposable bibs, burp cloths, hooded bath towels and washcloths, reusable and disposable placemats and floor mats, disposable toilet seat covers and changing mats, developmental toys, feeding and care goods, and other infant, toddler and juvenile soft goods. The firm operates indirectly through its subsidiaries, NoJo Baby & Kids, Inc. (NoJo) and Sassy Baby, Inc. (Sassy), in the infant, toddler and juvenile products segment within the consumer products industry.
Net Income: Crown Crafts delivered stronger second quarter net income, rising to $1.2 million or $0.11 per diluted share from $0.08 last year, mainly due to lower marketing and administrative expenses.
Sales Trends: Second quarter net sales dropped to $23.7 million from $24.5 million, as bedding and diaper bag sales declined but were partially offset by growth in bibs, toys, and disposable products.
Margins: Gross margin fell to 27.7% from 28.4%, with tariffs on goods from China continuing to pressure profitability.
Cost Controls: The company reduced marketing and administrative expenses significantly, aided by the absence of last year's acquisition costs.
Operational Consolidation: Crown Crafts began consolidating internal operations after quarter end, aiming to cut payroll and IT costs going forward.
Inventory and Cash: Inventory levels remained stable, and cash rose to $810,000 from $521,000 at year end, showing solid financial footing.
Dividend: An $0.08 per share quarterly cash dividend was declared, continuing the company’s record of returning value to shareholders.
Outlook: Management remains cautious due to tariffs and cost pressures but is optimistic about international growth and cost-saving initiatives.
