Crown Crafts reports Q4 net loss of $10.8M, goodwill impairment of $13.8M

CROWN CRAFTS INC

Q4 net sales $23.2M; gross margin 18.3%; GAAP net loss $10.8M ($1.04 diluted loss).
Full-year net sales $87.3M; gross margin 24.4%; GAAP net loss $9.4M ($0.90 diluted loss).
Adjusted Q4 net loss $429K ($0.04 diluted loss); adjusted FY net income $1.0M ($0.10 EPS).
Goodwill impairment charge of $13.8M ($10.4M after tax) recorded in Q4.
Quarterly dividend maintained at $0.08 per share.

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