Crown Crafts Stock Price, News & Analysis

Crown Crafts, Inc. (NASDAQ: CRWS) reported a net income of $2.4 million for Q2 FY2022, yielding $0.24 per diluted share, on net sales of $20.2 million. This reflects a decrease from $2.5 million and $21.7 million in Q2 FY2021. Excluding Carousel Designs, net sales rose 9.8% year-to-date. The company declared a special cash dividend of $0.35 per share, alongside a quarterly dividend of $0.08, payable on December 31, 2021. Despite operational challenges, including Hurricane Ida's impact, management maintains a positive outlook.

Crown Crafts, Inc. (NASDAQ-CM: CRWS) will announce its second-quarter fiscal year 2022 results on November 10, 2021, before market opening. The announcement will be followed by a teleconference at 1:00 p.m. CST for discussion and Q&A. Interested participants can join by calling (844) 861-5504 or listen online at www.crowncrafts.com. A replay of the call will be available until February 8, 2022, by dialing (877) 344-7529 in the U.S. The Company designs and distributes a range of infant and juvenile products.

Crown Crafts, Inc. (NASDAQ-CM: CRWS) reported a significant 15.5% increase in net sales for Q1 of fiscal year 2022, totaling $18.7 million. The company achieved $2.7 million in net income, or $0.27 per diluted share, compared to $1.2 million and $0.12 per diluted share in the prior year. Despite a decline in gross profit margin to 24.9% from 31.0%, the board declared a quarterly dividend of $0.08 per share, reflecting ongoing strength from its subsidiaries, NoJo Baby & Kids, Inc. and Sassy Baby, Inc.

Crown Crafts, Inc. (NASDAQ-CM: CRWS) will report its Q1 fiscal year 2022 results on August 11, 2021, before market opening. The teleconference, hosted by top executives E. Randall Chestnut, Olivia W. Elliott, and Craig J. Demarest, is scheduled for 1:00 PM CDT on the same day. Interested parties can join via phone or listen online. A replay will be available after the call until November 11, 2021. Crown Crafts specializes in infant and juvenile products, with a significant market presence through its subsidiaries.

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.