Crown Crafts Stock Price, News & Analysis

Crown Crafts reported a 7.5% increase in net sales for Q4 and a 7.9% increase for the full year 2021, with net income at $238,000 or $0.02 per diluted share for Q4, down from $1.6 million or $0.16 per diluted share in Q4 2020. Gross profit improved to 26.7% of net sales for Q4 and 30.4% for the full year. The closure of Carousel Designs resulted in a $2.2 million impairment. The company declared a quarterly cash dividend of $0.08 per share, to be paid on July 2, 2021.

Crown Crafts, Inc. (NASDAQ-CM: CRWS) will release its fourth-quarter fiscal 2021 results on June 9, 2021, before market opening. The teleconference will be held at 10:00 a.m. CDT, featuring key executives including E. Randall Chestnut, Olivia W. Elliott, and Craig J. Demarest. Participants can join the call by dialing (844) 861-5504 or via the company's website. A replay of the teleconference will be available later that day. Crown Crafts designs and distributes infant and juvenile products, operating through subsidiaries NoJo Baby & Kids and Sassy Baby.

Crown Crafts, Inc. (NASDAQ-CM: CRWS) announced a quarterly cash dividend of $0.08 per share on May 13, 2021. The payment is scheduled for July 2, 2021, to stockholders of record by June 11, 2021. E. Randall Chestnut, Chairman and CEO, emphasized the company's commitment to providing consistent returns while maintaining a strong financial position with a focus on positive cash flow and long-term value.

Crown Crafts, Inc. (NASDAQ-CM: CRWS) will close its subsidiary Carousel Designs, effective May 21, 2021, due to high costs and declining sales. Net sales fell from $6.6 million in FY 2019 to $4.8 million in FY 2020. Closing Carousel Designs is expected to improve consolidated earnings per share by $0.06 and $0.04 for FY 2019 and FY 2020, respectively. The Company anticipates incurring charges of $2.8 million to $3.4 million in FY 2021 and 2022, primarily non-cash charges for asset impairment.

Crown Crafts (NASDAQ-CM: CRWS) announced the appointment of Craig Demarest as Vice President and Chief Financial Officer, effective February 22, 2021. Demarest brings over 30 years of financial experience, previously serving as CFO at Carbo Ceramics Inc. and holding various roles at Tidewater Inc.. He replaces Olivia Elliott, who became President and COO on January 4, 2021. Elliott emphasized that Demarest's expertise will enhance the company's financial strength and shareholder returns. Crown Crafts designs and distributes infant and juvenile products.

Crown Crafts, Inc. (CRWS) reported a net sales increase of 4.8% for Q3 FY2021, totaling $19.5 million, and 8.0% year-to-date, reaching $57.3 million. Net income remained steady at $2.1 million, or $0.21 per diluted share, with gross profit margins improving to 31.6% for the quarter and 31.9% year-to-date. The company also declared a quarterly dividend of $0.08 per share, reflecting confidence in its financial position. The positive financial performance is attributed to strong consumer demand and effective cost control strategies.

Crown Crafts, Inc. (NASDAQ-CM: CRWS) will release its third quarter fiscal year 2021 results before the market opens on February 10, 2021. CEO E. Randall Chestnut and CFO Olivia W. Elliott will host a teleconference at 1:00 p.m. CST to discuss these results. Interested parties can join the teleconference by calling (844) 861-5504 or accessing it online at the Company’s website. A replay of the call will be available from one hour after the conclusion until May 11, 2021. Crown Crafts specializes in designing and distributing infant and juvenile products.

Crown Crafts, Inc. (NASDAQ-CM: CRWS) announced the appointment of Olivia Elliott as President and Chief Operating Officer effective January 4, 2021. With 19 years at the company, she will oversee all operations while continuing her financial duties. E. Randall Chestnut remains Chairman and CEO. The company reported a reduction in debt from $47.7 million to a net cash position of $4.9 million and returned $46 million in dividends to shareholders. Elliott aims to maintain strong cash flow and profitability, focusing on operational excellence.

Crown Crafts, Inc. (NASDAQ-CM: CRWS) reported a strong second quarter for fiscal year 2021, with net sales increasing 16.7% to $21.7 million and net income reaching a record $2.5 million, a 39.8% increase year-over-year. The gross profit margin improved to 32.8% from 31.6% in the prior year. The company's board declared a special dividend of $0.25 per share, in addition to a quarterly dividend of $0.08. Cash balance at quarter-end stood at $6.8 million. The results reflect strong consumer demand and effective cost control.