M&A - CROWN CRAFTS INC

Form Type: 10-Q

Filing Date: 2025-02-12

Corporate Action: Acquisition

Type: New

Accession Number: 000143774925003486

Filing Summary: Crown Crafts, Inc. is reporting its quarterly financial results for the period ended December 29, 2024, in this 10-Q filing. The company has disclosed total assets of $98.741 million as of December 29, 2024, reflecting an increase from $82.706 million at March 31, 2024. Net sales for the three-month period totaled $23.351 million, slightly decreasing from $23.801 million in the previous year, while the nine-month period witnessed net sales of $64.023 million compared to $65.053 million for the same period ending December 31, 2023. Crown Crafts reported a net income of $893,000 for the quarter, along with a decrease in earnings per share from the previous quarter's $0.17 to $0.09. Additionally, the company has acquired Baby Boom Consumer Products, Inc. for $18.0 million in cash, funded through a term loan and draws from its revolving credit facility. This acquisition is expected to enhance Crown Crafts' product offerings in the infant and toddler market and is being accounted for according to FASB ASC Topic 805, Business Combinations.