Crown Crafts Announces Financial Results for Second Quarter Fiscal 2027
Key Highlights
- ➤Net sales $19.0 million, down from $23.7 million year over year
- ➤Net income $1.3 million, or $0.12 per share, increased year over year
- ➤Adjusted gross margin 30.9%, up 320 basis points year over year
- ➤Long-term debt fell to $3.3 million from $12.1 million at fiscal year-end
- ➤Quarterly dividend of $0.03 per Series A common share declared
Expert Statements
Olivia Elliott, President and Chief Executive Officer of Crown Crafts
“We continue to execute well on our profitability initiatives with meaningful improvement this quarter in our gross profit, marketing and administrative expenses, and year-to-date operating cash flow.”
Olivia Elliott, President and Chief Executive Officer of Crown Crafts
“In addition, we generated strong sales due in large part to the warm reception for Groovy Girls in Canada.”
Olivia Elliott, President and Chief Executive Officer of Crown Crafts
“Our stronger profitability reflects our continued initiatives around efficiency and profitability, and our talented team is simultaneously focused on the development of additional higher-margin products and sales channels to grow both sales and profitability in the quarters ahead.”
Olivia Elliott, President and Chief Executive Officer of Crown Crafts
“While we continue to make progress on longer-term initiatives including warehouse consolidation, our improved profitability and stronger cash flow are already encouraging and have helped us to significantly reduce debt and the associated interest expense while continuing to pay a dividend to our valued shareholders.”
Olivia Elliott, President and Chief Executive Officer of Crown Crafts
“Our entire team is energized by Crown Crafts’ strong positioning and the opportunities ahead to enhance shareholder value.”
GONZALES, La., Nov. 12, 2026 (GLOBE NEWSWIRE) -- Crown Crafts, Inc. (NASDAQ-CM: CRWS) (the “Company”) a producer, designer, and distributor of infant, toddler, and juvenile consumer products, today reported results for the second quarter fiscal year 2027, which ended September 27, 2026.
Second Quarter Fiscal 2027 Summary * Net sales of $19.0 million compared to $23.7 million in the prior-year quarter * Gross profit margin increased to 32.0% from 27.7% in the prior-year quarter reflecting tariff refunds and severance expense recorded in the second quarter of fiscal 2027. Adjusting for these two factors, gross profit margin would have been 30.9%((1)), up 320 basis points year over year * Net income of $1.3 million, or $0.12 per share, increased from $1.2 million, or $0.11 per share in the prior-year quarter, respectively * Declared a quarterly dividend of $0.03 per share on the Company's Series A common stock ((1)) Adjusted gross margin is a non-GAAP measure. See “Non-GAAP Financial Measures” and “Reconciliation to Non-GAAP Financial Measures” below for reconciliations of non-GAAP financial measures to their most directly comparable GAAP financial measures.
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