10-Q Filing

CROWN CRAFTS INC CIK: 25895 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0001437749-11-006135`
Period End Date	20110630
Filing Date	20110817
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	crws-20110703.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 98 Income Statement 42 Cash Flow Statement 65

Balance Sheet 98 line items

Line Item	Tag	Value	Unit	Period
Allowances (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.40M	USD	Point-in-time
Allowances (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.25M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$75.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$918.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$205.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Due from factor	`DueFromFactor`	$12.66M	USD	Point-in-time
Due from factor	`DueFromFactor`	$17.82M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Other	`AccountsReceivableNetCurrent`	$681.00K	USD	Point-in-time
Other	`AccountsReceivableNetCurrent`	$834.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$13.56M	USD	Point-in-time
Inventories	`InventoryNet`	$18.38M	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.84M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	74.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	74.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.36M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleCurrent`	$275.00K	USD	Point-in-time
Common stock, shares Issued	`CommonStockSharesIssued`	10.83M	shares	Point-in-time
Common stock, shares Issued	`CommonStockSharesIssued`	11.02M	shares	Point-in-time
Assets held for sale	`AssetsHeldForSaleCurrent`	$275.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$230.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.25M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.40M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$192.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.05M	USD	Point-in-time
Vehicles	`PropertyPlantAndEquipmentOther`	$75.00K	USD	Point-in-time
Vehicles	`PropertyPlantAndEquipmentOther`	$58.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$215.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$216.00K	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$2.45M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$2.62M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$730.00K	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$730.00K	USD	Point-in-time
Property, plant and equipment - gross	`PropertyPlantAndEquipmentGross`	$3.62M	USD	Point-in-time
Property, plant and equipment - gross	`PropertyPlantAndEquipmentGross`	$3.47M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.99M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.15M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$472.00K	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$485.00K	USD	Point-in-time
Customer relationships	`FiniteLivedCustomerRelationshipsGross`	$5.41M	USD	Point-in-time
Customer relationships	`FiniteLivedCustomerRelationshipsGross`	$5.41M	USD	Point-in-time
Other finite-lived intangible assets	`OtherFiniteLivedIntangibleAssetsGross`	$6.67M	USD	Point-in-time
Other finite-lived intangible assets	`OtherFiniteLivedIntangibleAssetsGross`	$6.67M	USD	Point-in-time
Finite-lived intangible assets - gross	`FiniteLivedIntangibleAssetsGross`	$12.09M	USD	Point-in-time
Finite-lived intangible assets - gross	`FiniteLivedIntangibleAssetsGross`	$12.09M	USD	Point-in-time
Less accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$5.29M	USD	Point-in-time
Less accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$5.60M	USD	Point-in-time
Finite-lived intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$6.49M	USD	Point-in-time
Finite-lived intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$6.79M	USD	Point-in-time
Goodwill	`Goodwill`	$1.13M	USD	Point-in-time
Goodwill	`Goodwill`	$1.13M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.81M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.90M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$108.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$122.00K	USD	Point-in-time
Total Assets	`Assets`	$45.70M	USD	Point-in-time
Total Assets	`Assets`	$44.06M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.78M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.05M	USD	Point-in-time
Accrued wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$504.00K	USD	Point-in-time
Accrued wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$1.17M	USD	Point-in-time
Accrued royalties	`AccruedRoyaltiesCurrent`	$1.18M	USD	Point-in-time
Accrued royalties	`AccruedRoyaltiesCurrent`	$1.33M	USD	Point-in-time
Income taxes currently payable	`AccruedIncomeTaxesCurrent`	$409.00K	USD	Point-in-time
Income taxes currently payable	`AccruedIncomeTaxesCurrent`	$183.00K	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$212.00K	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$196.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.99M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.98M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$427.00K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.34M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock - $0.01 par value per share; Authorized 1,000,000 shares; No shares issued at July 3, 2011 and April 3, 2011	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock - $0.01 par value per share; Authorized 1,000,000 shares; No shares issued at July 3, 2011 and April 3, 2011	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $0.01 par value per share; Authorized 74,000,000 shares; Issued 11,024,272 shares at July 3, 2011 and 10,830,772 shares at April 3, 2011	`CommonStockValue`	$108.00K	USD	Point-in-time
Common stock - $0.01 par value per share; Authorized 74,000,000 shares; Issued 11,024,272 shares at July 3, 2011 and 10,830,772 shares at April 3, 2011	`CommonStockValue`	$110.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$42.23M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$42.97M	USD	Point-in-time
Treasury stock - at cost - 1,396,205 shares at July 3, 2011 and 1,248,162 shares at April 3, 2011	`TreasuryStockValue`	$5.09M	USD	Point-in-time
Treasury stock - at cost - 1,396,205 shares at July 3, 2011 and 1,248,162 shares at April 3, 2011	`TreasuryStockValue`	$4.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.58M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.34M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$31.65M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$31.39M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$45.70M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$44.06M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$17.50M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$17.17M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$12.88M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$13.72M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.29M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.78M	USD	1 Quarter
Marketing and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.02M	USD	1 Quarter
Marketing and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.85M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.28M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$933.00K	USD	1 Quarter
Interest and amortization of debt discount and expense	`InterestExpense`	$78.00K	USD	1 Quarter
Interest and amortization of debt discount and expense	`InterestExpense`	$97.00K	USD	1 Quarter
Other - net	`OtherNonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
Other - net	`OtherNonoperatingIncomeExpense`	$8.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.19M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$863.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$455.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$330.00K	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$533.00K	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$731.00K	USD	1 Quarter
Loss from discontinued operations - net of income taxes	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-3.00K	USD	1 Quarter
Loss from discontinued operations - net of income taxes	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-5.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$726.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$530.00K	USD	1 Quarter
Weighted average shares outstanding - basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.62M	shares	1 Quarter
Weighted average shares outstanding - basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.25M	shares	1 Quarter
Weighted average shares outstanding - diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.76M	shares	1 Quarter
Weighted average shares outstanding - diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.35M	shares	1 Quarter
Income from continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.08	USD	1 Quarter
Income from continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.06	USD	1 Quarter
Loss from discontinued operations - net of income taxes (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Loss from discontinued operations - net of income taxes (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Total basic earnings per share (in Dollars per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Total basic earnings per share (in Dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Income from continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.08	USD	1 Quarter
Income from continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.05	USD	1 Quarter
Loss from discontinued operations - net of income taxes (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Loss from discontinued operations - net of income taxes (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Total diluted earnings per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Total diluted earnings per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Cash dividends declared per share (in Dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.03	USD	1 Quarter
Cash dividends declared per share (in Dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$726.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$530.00K	USD	1 Quarter
Depreciation of property, plant and equipment	`DepreciationAndAmortization`	$64.00K	USD	1 Quarter
Depreciation of property, plant and equipment	`DepreciationAndAmortization`	$67.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$308.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$289.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-100.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$133.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-5.00K	USD	1 Quarter
Accretion of interest expense to original issue discount	`AmortizationOfDebtDiscountPremium`	$69.00K	USD	1 Quarter
Accretion of interest expense to original issue discount	`AmortizationOfDebtDiscountPremium`	$36.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$163.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$137.00K	USD	1 Quarter
Tax shortfall from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-27.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.31M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.88M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-4.82M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.99M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$186.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$519.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$14.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-9.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.73M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.96M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-169.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-755.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.07M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.17M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$80.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$54.00K	USD	1 Quarter
Maturity of temporary investment - restricted	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$505.00K	USD	1 Quarter
Proceeds from disposition of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.00K	USD	1 Quarter
Proceeds from disposition of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.00K	USD	1 Quarter
Payment to acquire the Bibsters product line	`PaymentsToAcquireBusinessesGross`	$2.07M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.62M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-75.00K	USD	1 Quarter
Repayments under revolving line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-1.42M	USD	1 Quarter
Repayments under revolving line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-3.91M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$735.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$167.00K	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$65.00K	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$628.00K	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$104.00K	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$11.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$184.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$287.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.60M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.29M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-194.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$843.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$75.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$918.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$205.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$75.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$918.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$205.00K	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$440.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$1.06M	USD	1 Quarter
Interest paid, net of interest received	`InterestPaidNet`	$33.00K	USD	1 Quarter
Interest paid, net of interest received	`InterestPaidNet`	$38.00K	USD	1 Quarter
Dividends declared but unpaid	`DividendsPayableAmount`	$-185.00K	USD	Point-in-time
Dividends declared but unpaid	`DividendsPayableAmount`	$-289.00K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.