secwatch.observer — SEC 8-K summary
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Issuer:     CROWN CRAFTS INC (CRWS)
CIK:        0000025895
Form:       8-K
Filed at:   2023-06-22T23:59:59+00:00
Accession:  0001437749-23-018048
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crown Crafts Q4 net income falls to $0.08 EPS; full-year sales down 14%
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- Q4 net sales $21.6M vs $25.7M YoY; net income $828K ($0.08 diluted) vs $2.4M ($0.24).
- FY2023 net sales $75.1M (down 14% from $87.4M); net income $5.7M ($0.56) vs $9.9M ($0.98).
- Acquired Manhattan Group (Manhattan Toy) on March 17, 2023; $358K acquisition expenses in Q4.
- Quarterly dividend of $0.08/share declared, payable July 7, 2023 to June 16 record holders.
- CEO cites excess inventory, inflation, and lower consumer demand as key headwinds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/25895/000143774923018048/0001437749-23-018048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/25895/000143774923018048/crws20230615_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-018048

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer