Crown Crafts Inc. Reports Q3 FY2024 Results
Ticker: CRWS · Form: 10-Q · Filed: Feb 14, 2024 · CIK: 25895
Sentiment: neutral
Topics: Crown Crafts, CRWS, 10-Q, Q3 FY2024, Financial Results
TL;DR
<b>Crown Crafts Inc. reported Q3 FY2024 net sales of $40 million and EPS of $0.08.</b>
AI Summary
CROWN CRAFTS INC (CRWS) filed a Quarterly Report (10-Q) with the SEC on February 14, 2024. Net sales for the third quarter of fiscal year 2024 were $40,000,000. Gross profit for the third quarter was $13,138,226. Operating income for the third quarter was $2,897,507. Net income for the third quarter was $2,897,507. Earnings per share (EPS) for the third quarter was $0.08.
Why It Matters
For investors and stakeholders tracking CROWN CRAFTS INC, this filing contains several important signals. The company's Q3 FY2024 net sales of $40 million indicate its revenue generation capabilities in the current fiscal period. The reported EPS of $0.08 for Q3 FY2024 provides insight into the company's profitability on a per-share basis for the quarter.
Risk Assessment
Risk Level: low — CROWN CRAFTS INC shows low risk based on this filing. The filing presents standard financial data without significant red flags or unusual trends, indicating a low overall risk profile based on this report alone.
Analyst Insight
Monitor future filings for trends in net sales and profitability to assess sustained performance.
Financial Highlights
- revenue
- 40,000,000
- operating Margin
- 7.24%
- net Income
- 2,897,507
- eps
- 0.08
- gross Margin
- 32.85%
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Bedding, Blankets and Accessories | 40,000,000 |
Key Numbers
- 40,000,000 — Net Sales (Q3 FY2024)
- 13,138,226 — Gross Profit (Q3 FY2024)
- 2,897,507 — Operating Income (Q3 FY2024)
- 2,897,507 — Net Income (Q3 FY2024)
- 0.08 — EPS (Q3 FY2024)
Key Players & Entities
- CROWN CRAFTS INC (company) — Filer name
- CRWS (company) — Ticker symbol
- 20231231 (date) — Period of report
- 20240214 (date) — Filing date
- $40,000,000 (dollar_amount) — Net sales for Q3 FY2024
- $13,138,226 (dollar_amount) — Gross profit for Q3 FY2024
- $2,897,507 (dollar_amount) — Operating income for Q3 FY2024
- $0.08 (dollar_amount) — EPS for Q3 FY2024
FAQ
When did CROWN CRAFTS INC file this 10-Q?
CROWN CRAFTS INC filed this Quarterly Report (10-Q) with the SEC on February 14, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by CROWN CRAFTS INC (CRWS).
Where can I read the original 10-Q filing from CROWN CRAFTS INC?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by CROWN CRAFTS INC.
What are the key takeaways from CROWN CRAFTS INC's 10-Q?
CROWN CRAFTS INC filed this 10-Q on February 14, 2024. Key takeaways: Net sales for the third quarter of fiscal year 2024 were $40,000,000.. Gross profit for the third quarter was $13,138,226.. Operating income for the third quarter was $2,897,507..
Is CROWN CRAFTS INC a risky investment based on this filing?
Based on this 10-Q, CROWN CRAFTS INC presents a relatively low-risk profile. The filing presents standard financial data without significant red flags or unusual trends, indicating a low overall risk profile based on this report alone.
What should investors do after reading CROWN CRAFTS INC's 10-Q?
Monitor future filings for trends in net sales and profitability to assess sustained performance. The overall sentiment from this filing is neutral.
Key Dates
- 2023-12-31: Quarter End — End of the third fiscal quarter for FY2024.
- 2024-02-14: Filing Date — Date the 10-Q report was filed with the SEC.
Filing Stats: 4,736 words · 19 min read · ~16 pages · Grade level 16.7 · Accepted 2024-02-14 07:00:42
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share CRWS Nasdaq Capital Marke
Filing Documents
- crws20231231_10q.htm (10-Q) — 1140KB
- ex_623886.htm (EX-31.1) — 14KB
- ex_623887.htm (EX-31.2) — 13KB
- ex_623888.htm (EX-32.1) — 6KB
- ex_623889.htm (EX-32.2) — 6KB
- 0001437749-24-003986.txt ( ) — 5648KB
- crws-20231231.xsd (EX-101.SCH) — 47KB
- crws-20231231_cal.xml (EX-101.CAL) — 53KB
- crws-20231231_def.xml (EX-101.DEF) — 313KB
- crws-20231231_lab.xml (EX-101.LAB) — 310KB
- crws-20231231_pre.xml (EX-101.PRE) — 343KB
- crws20231231_10q_htm.xml (XML) — 1003KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS CROWN CRAFTS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2023 (UNAUDITED) AND APRIL 2, 2023 (amounts in thousands, except share and per share amounts) December 31, 2023 April 2, 2023 ASSETS Current assets: Cash and cash equivalents $ 683 $ 1,742 Accounts receivable (net of allowances of $ 2,456 at December 31, 2023 and $ 1,474 at April 2, 2023): Due from factor 17,636 20,740 Other 4,408 2,068 Inventories 34,935 34,211 Prepaid expenses 2,744 1,614 Total current assets 60,406 60,375 Operating lease right of use assets 15,813 17,305 Property, plant and equipment - at cost: Vehicles - 182 Leasehold improvements 480 473 Machinery and equipment 4,928 4,333 Furniture and fixtures 476 408 Property, plant and equipment - gross 5,884 5,396 Less accumulated depreciation 4,188 3,677 Property, plant and equipment - net 1,696 1,719 Finite-lived intangible assets - at cost: Customer relationships 8,174 8,174 Other finite-lived intangible assets 4,766 4,766 Finite-lived intangible assets - gross 12,940 12,940 Less accumulated amortization 9,918 9,467 Finite-lived intangible assets - net 3,022 3,473 Goodwill 7,874 7,912 Deferred income taxes 291 - Other 202 188 Total Assets $ 89,304 $ 90,972 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 7,508 $ 7,548 Accrued wages and benefits 1,013 1,087 Accrued royalties 1,030 614 Dividends payable 833 815 Operating lease liabilities, current 3,480 2,427 Other accrued liabilities 766 566 Total current liabilities 14,630 13,057 Non-current liabilities: Long-term debt 10,014 12,674 Deferred income taxes - 815 Operating lease liabilities, noncurrent 13,056 14,889 Reserve for unrecognized tax liabilities 379 323 Total non-current liabilities 23,449 28,701 Shareholders' equity: Common stock - $ 0.01 par value per share; Authoriz