Crown Crafts, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 14, 2024 at 06:45 am EST
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Crown Crafts, Inc. reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was USD 23.8 million compared to USD 19 million a year ago. Net income was USD 1.7 million compared to USD 1.35 million a year ago. Basic earnings per share from continuing operations was USD 0.17 compared to USD 0.13 a year ago. Diluted earnings per share from continuing operations was USD 0.17 compared to USD 0.13 a year ago.
For the nine months, sales was USD 65.05 million compared to USD 53.44 million a year ago. Net income was USD 3.89 million compared to USD 4.82 million a year ago. Basic earnings per share from continuing operations was USD 0.38 compared to USD 0.48 a year ago. Diluted earnings per share from continuing operations was USD 0.38 compared to USD 0.48 a year ago.
Crown Crafts, Inc. designs, markets, and distributes infant, toddler and juvenile consumer products. It operates through its four subsidiaries, NoJo Baby & Kids, Inc., Sassy Baby, Inc., Manhattan Group, LLC, and Manhattan Toy Europe Limited in the infant, toddler and juvenile products segment. Its infant, toddler and juvenile products segment consists of infant and toddler bedding and blankets, bibs, soft bath products, disposable products, developmental toys and accessories. Its primary focus is on infant, toddler, and juvenile products, including infant and toddler bedding, blankets and swaddle blankets, nursery and toddler accessories, room decor, reusable and disposable bibs, burp cloths, hooded bath towels and washcloths, reusable and disposable placemats and floor mats, disposable toilet seat covers and changing mats, developmental toys, feeding and care goods and other infant, toddler and juvenile soft goods. It serves mass merchants, restaurants, and chain stores, among others.