Welcome to our dedicated page for Crown Crafts news (Ticker: CRWS), a resource for investors and traders seeking the latest updates and insights on Crown Crafts stock.
Crown Crafts Inc. (CRWS) delivers essential infant and toddler products through its diversified manufacturing and distribution network. This news hub provides investors and industry observers with direct access to official corporate announcements and market developments.
Track material updates including quarterly earnings, product line expansions, strategic partnerships, and operational milestones. Our curated collection ensures timely access to press releases and verified news affecting CRWS's position in the juvenile consumer goods sector.
Discover updates across key business areas: financial performance metrics, new licensed collections, retail distribution partnerships, and quality assurance initiatives. Content is organized for efficient scanning while maintaining regulatory compliance standards.
Bookmark this page for centralized monitoring of CRWS's corporate communications. Combine these primary sources with broader market analysis to inform your understanding of this established infant products manufacturer.
Crown Crafts, Inc. (NASDAQ-CM: CRWS) has acquired substantially all assets of Baby Boom Consumer Products for $18 million. This acquisition enhances Crown Crafts' presence in the toddler bedding category and expands its product lineup to include diaper bags. Baby Boom offers branded and licensed products, including popular characters like Bluey and Paw Patrol.
The deal was financed through an $8 million term loan and additional borrowings from Crown Crafts' revolving line of credit. The acquisition is expected to be accretive to earnings and add approximately $20 million annually to Crown Crafts' net sales. The company's revolving line of credit has been extended to July 19, 2029, with an increased borrowing capacity of $40 million.
Crown Crafts (NASDAQ-CM: CRWS) has announced its financial results for Q4 and the full fiscal year 2024. Q4 net sales increased to $22.6 million from $21.6 million in the same period last year, with a gross margin improvement to 23.2% from 21.9%. Net income for Q4 was $1.0 million, or $0.10 per diluted share, up from $828,000, or $0.08 per share, last year.
For the fiscal year 2024, net sales rose to $87.6 million from $75.1 million in fiscal 2023, but gross margin slightly decreased to 26.2% from 26.4%. Net income for the year was $4.9 million, or $0.48 per diluted share, compared to $5.7 million, or $0.56 per share, in the previous year. Marketing and administrative expenses increased to $16.1 million from $12.7 million.
The company declared a quarterly dividend of $0.08 per share, payable on July 5, 2024. CEO Olivia Elliott highlighted the successful integration of Manhattan Toy and proactive management amid inflationary pressures.
Crown Crafts (NASDAQ-CM: CRWS) will release its fourth quarter and full year fiscal 2024 results on June 28, 2024, before market open. President and CEO Olivia W. Elliott, along with CFO Craig J. Demarest, will host a teleconference at 8:00 a.m. Central Daylight Time to discuss the results and answer questions. Interested parties can join the call by dialing (844) 861-5504 or by visiting the company's website. A replay will be available one hour after the call until September 28, 2024, by dialing (412) 317-0088 and entering code 2162656.
Crown Crafts (NASDAQ: CRWS) announced that its Board of Directors has declared a quarterly cash dividend of $0.08 per share on its Series A common stock.
The dividend will be paid on July 5, 2024, to shareholders of record as of June 14, 2024. This decision continues the Company's practice of rewarding its shareholders with regular dividend payments.
FAQ
What is the current stock price of Crown Crafts (CRWS)?
What is the market cap of Crown Crafts (CRWS)?
