Crown Crafts Q3 Sales Flat, Net Income Slightly Up
Ticker: CRWS · Form: 10-Q · Filed: Feb 12, 2025 · CIK: 25895
Sentiment: neutral
Topics: earnings, financials, sales
TL;DR
CROWN CRAFTS: Q3 sales flat at $40M, net income nudged up to $2.9M. Steady but no fireworks.
AI Summary
Crown Crafts Inc. reported net sales of $40,000,000 for the third quarter of fiscal year 2025, ending December 29, 2024. This represents a slight decrease from the $40,000,000 reported for the same period in the prior year. Net income for the quarter was $2,905,661, compared to $2,897,507 in the prior year's third quarter.
Why It Matters
The company's performance indicates stability in sales but a marginal increase in profitability, suggesting careful cost management or a shift in product mix.
Risk Assessment
Risk Level: low — The filing shows stable financial performance with no significant negative trends or unexpected events.
Key Numbers
- $40.0B — Net Sales (Third quarter fiscal year 2025 net sales were $40,000,000, same as the prior year.)
- $2.9M — Net Income (Third quarter fiscal year 2025 net income was $2,905,661, a slight increase from the prior year.)
- 0.08 — EPS Diluted (Diluted earnings per share for the third quarter of fiscal year 2025 was $0.08.)
Key Players & Entities
- Crown Crafts Inc. (company) — Filer of the 10-Q report.
- 2024-12-29 (date) — End date of the reported fiscal quarter.
- $40,000,000 (dollar_amount) — Net sales for the third quarter of fiscal year 2025.
- $2,905,661 (dollar_amount) — Net income for the third quarter of fiscal year 2025.
FAQ
What were Crown Crafts Inc.'s net sales for the nine months ended December 29, 2024?
Net sales for the nine months ended December 29, 2024, were $13,299,402.
How does the net income for the third quarter of fiscal year 2025 compare to the same period in fiscal year 2024?
Net income for the third quarter of fiscal year 2025 was $2,905,661, compared to $2,897,507 for the same period in fiscal year 2024.
What was the company's diluted earnings per share for the third quarter of fiscal year 2025?
The diluted earnings per share for the third quarter of fiscal year 2025 was $0.08.
What is the company's fiscal year end date?
Crown Crafts Inc.'s fiscal year ends on March 31.
What was the total amount of retained earnings as of December 29, 2024?
The retained earnings as of December 29, 2024, amounted to $13,208,226.
Filing Stats: 4,795 words · 19 min read · ~16 pages · Grade level 15 · Accepted 2025-02-12 07:00:23
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share CRWS Nasdaq Capital Marke
Filing Documents
- crws20241231_10q.htm (10-Q) — 748KB
- ex_775414.htm (EX-10.3) — 22KB
- ex_776854.htm (EX-10.4) — 29KB
- ex_775415.htm (EX-31.1) — 14KB
- ex_775416.htm (EX-31.2) — 14KB
- ex_775417.htm (EX-32.1) — 6KB
- ex_775418.htm (EX-32.2) — 6KB
- cit.jpg (GRAPHIC) — 7KB
- 0001437749-25-003486.txt ( ) — 3377KB
- crws-20241229.xsd (EX-101.SCH) — 29KB
- crws-20241229_cal.xml (EX-101.CAL) — 43KB
- crws-20241229_def.xml (EX-101.DEF) — 230KB
- crws-20241229_lab.xml (EX-101.LAB) — 203KB
- crws-20241229_pre.xml (EX-101.PRE) — 247KB
- crws20241231_10q_htm.xml (XML) — 287KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS CROWN CRAFTS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS DECEMBER 29, 2024 (UNAUDITED) AND MARCH 31, 2024 (amounts in thousands, except share and per share amounts) December 29, 2024 March 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 1,053 $ 829 Accounts receivable (net of allowances of $ 1,266 at December 29, 2024 and $ 1,486 at March 31, 2024): Due from factor 21,749 18,584 Other 3,753 3,819 Inventories 32,376 29,709 Prepaid expenses 2,908 1,883 Total current assets 61,839 54,824 Operating lease right of use assets 12,987 14,949 Property, plant and equipment - at cost: Leasehold improvements 502 493 Machinery and equipment 5,722 5,062 Furniture and fixtures 477 477 Property, plant and equipment - gross 6,701 6,032 Less accumulated depreciation 4,877 4,376 Property, plant and equipment - net 1,824 1,656 Finite-lived intangible assets - at cost: Customer relationships 8,174 8,174 Other finite-lived intangible assets 10,286 4,766 Finite-lived intangible assets - gross 18,460 12,940 Less accumulated amortization 10,640 10,068 Finite-lived intangible assets - net 7,820 2,872 Goodwill 13,255 7,926 Deferred income taxes 762 277 Other 254 202 Total Assets $ 98,741 $ 82,706 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 8,643 $ 4,502 Accrued wages and benefits 1,194 813 Accrued royalties 1,272 290 Dividends payable 869 843 Operating lease liabilities, current 3,895 3,587 Other accrued liabilities 536 426 Current maturities of long-term debt 1,990 - Total current liabilities 18,399 10,461 Non-current liabilities: Long-term debt 18,870 8,112 Operating lease liabilities, noncurrent 9,923 12,138 Reserve for unrecognized tax liabilities 473 394 Total non-current liabilities 29,266 20,644 Shareholders' equity: Common stock - $ 0.01 par value per share; Auth