Crown Crafts, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended January 01, 2023
February 15, 2023 at 07:01 am EST
Share
Crown Crafts, Inc. reported earnings results for the third quarter and nine months ended January 01, 2023. For the third quarter, the company reported sales was USD 19 million compared to USD 22.74 million a year ago. Net income was USD 1.35 million compared to USD 2.43 million a year ago. Basic earnings per share from continuing operations was USD 0.13 compared to USD 0.24 a year ago. Diluted earnings per share from continuing operations was USD 0.13 compared to USD 0.24 a year ago.
For the nine months, sales was USD 53.44 million compared to USD 61.67 million a year ago. Net income was USD 4.82 million compared to USD 7.48 million a year ago. Basic earnings per share from continuing operations was USD 0.48 compared to USD 0.74 a year ago. Diluted earnings per share from continuing operations was USD 0.48 compared to USD 0.74 a year ago.
Crown Crafts, Inc. designs, markets and distributes infant, toddler and juvenile consumer products. The Company operates through its wholly owned subsidiaries, Sassy Baby, Inc and NoJo Baby & Kids, Inc., which market a variety of infant, toddler and juvenile products under Company-owned trademarks, as well as licensed collections and exclusive private label programs. The Company's primary focus is on infant, toddler and juvenile products, including developmental toys, dolls and plush toys, reusable and disposable bibs, infant and toddler bedding, blankets and swaddle blankets, nursery and toddler accessories, room decor, burp cloths, reusable and disposable placemats and floor mats, disposable toilet seat covers and changing mats, feeding and care goods, and other infant, toddler and juvenile soft good. Its customers consist principally of mass merchants, large chain stores, mid-tier retailers, juvenile specialty stores, value channel stores, Internet accounts and wholesale clubs.