Crown Crafts Q1 swings to $2.1M profit, sales up 8.4%; dividend cut to $0.03

CROWN CRAFTS INC

Net sales $16.8M vs $15.5M YoY; gross margin 47.9% incl $3.7M tariff refunds; adjusted 25.6% (+290bps).
Net income $2.1M ($0.19/sh) vs net loss $1.1M (-$0.10) in prior-year Q1.
Quarterly dividend reduced to $0.03/share (paid Oct 2, record Sep 11) to fund growth, debt reduction, warehouse consolidation.
Stockholders approved incentive plan share increase to 2.45M (from 1.2M) and ratified KPMG as auditor.
CEO cites strong international Groovy Girls sales; industry conditions remain soft.

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