Crown Crafts Q1 net sales $18.7M, up 15.5%; net income $2.7M; declares $0.08 dividend

CROWN CRAFTS INC

Net sales $18.7M vs $16.2M YoY; net income $2.7M ($0.27 diluted EPS) vs $1.2M ($0.12).
Adjusted net income (excl. $1.985M PPP gain and Carousel) $1.5M ($0.15 EPS) vs $1.2M ($0.12).
Gross margin 24.9% of sales, down from 31.0% YoY due to product mix and Carousel closure.
Board declared $0.08/share quarterly cash dividend, payable Oct 1, 2021, record Sep 10, 2021.
Annual meeting: elected directors Kirschner and Nie; ratified KPMG; approved 2021 incentive plan.

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