10-Q Filing

CROWN CRAFTS INC CIK: 25895 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001437749-12-008459`
Period End Date	20120630
Filing Date	20120814
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	crws-20120701.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 31 Cash Flow Statement 62

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Allowances (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$771.00K	USD	Point-in-time
Allowances (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.06M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$214.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.56M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$205.00K	USD	Point-in-time
Common stock, shares Issued	`CommonStockSharesIssued`	11.39M	shares	Point-in-time
Common stock, shares Issued	`CommonStockSharesIssued`	11.13M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.65M	shares	Point-in-time
Due from factor	`DueFromFactor`	$19.44M	USD	Point-in-time
Due from factor	`DueFromFactor`	$14.51M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.47M	shares	Point-in-time
Other	`AccountsReceivableNetCurrent`	$656.00K	USD	Point-in-time
Other	`AccountsReceivableNetCurrent`	$882.00K	USD	Point-in-time
Inventories	`InventoryNet`	$11.84M	USD	Point-in-time
Inventories	`InventoryNet`	$14.52M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.11M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.43M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleCurrent`	$275.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$35.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.08M	USD	Point-in-time
Vehicles	`PropertyPlantAndEquipmentOther`	$187.00K	USD	Point-in-time
Vehicles	`PropertyPlantAndEquipmentOther`	$187.00K	USD	Point-in-time
Land, buildings and leasehold improvements	`BuildingsAndImprovementsGross`	$491.00K	USD	Point-in-time
Land, buildings and leasehold improvements	`BuildingsAndImprovementsGross`	$217.00K	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$2.39M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$2.35M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$747.00K	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$747.00K	USD	Point-in-time
Property, plant and equipment - gross	`PropertyPlantAndEquipmentGross`	$3.50M	USD	Point-in-time
Property, plant and equipment - gross	`PropertyPlantAndEquipmentGross`	$3.81M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.99M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.04M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$514.00K	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$770.00K	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`	$6.86M	USD	Point-in-time
Other finite-lived intangible assets	`OtherFiniteLivedIntangibleAssetsGross`	$7.11M	USD	Point-in-time
Finite-lived intangible assets - gross	`FiniteLivedIntangibleAssetsGross`	$12.52M	USD	Point-in-time
Finite-lived intangible assets - gross	`FiniteLivedIntangibleAssetsGross`	$12.27M	USD	Point-in-time
Less accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$6.48M	USD	Point-in-time
Less accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$6.30M	USD	Point-in-time
Finite-lived intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$5.97M	USD	Point-in-time
Finite-lived intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$6.04M	USD	Point-in-time
Goodwill	`Goodwill`	$1.13M	USD	Point-in-time
Goodwill	`Goodwill`	$1.13M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.86M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.65M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$107.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$102.00K	USD	Point-in-time
Total Assets	`Assets`	$44.66M	USD	Point-in-time
Total Assets	`Assets`	$45.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.94M	USD	Point-in-time
Accrued wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$785.00K	USD	Point-in-time
Accrued wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$896.00K	USD	Point-in-time
Accrued royalties	`AccruedRoyaltiesCurrent`	$1.43M	USD	Point-in-time
Accrued royalties	`AccruedRoyaltiesCurrent`	$1.34M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$1.16M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$780.00K	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$553.00K	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$333.00K	USD	Point-in-time
Deferred income taxes	`AccruedIncomeTaxesCurrent`	$127.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.48M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at July 1, 2012 and April 1, 2012; Issued 11,393,522 shares at July 1, 2012 and 11,132,272 shares at April 1, 2012	`CommonStockValue`	$111.00K	USD	Point-in-time
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at July 1, 2012 and April 1, 2012; Issued 11,393,522 shares at July 1, 2012 and 11,132,272 shares at April 1, 2012	`CommonStockValue`	$114.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$44.65M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$43.66M	USD	Point-in-time
Treasury stock - at cost - 1,646,218 shares at July 1, 2012 and 1,465,780 shares at April 1, 2012	`TreasuryStockValue`	$6.39M	USD	Point-in-time
Treasury stock - at cost - 1,646,218 shares at July 1, 2012 and 1,465,780 shares at April 1, 2012	`TreasuryStockValue`	$5.39M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.67M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$35.59M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$34.72M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$45.08M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$44.66M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$17.45M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$17.50M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$13.03M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$13.72M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.42M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.78M	USD	1 Quarter
Marketing and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.98M	USD	1 Quarter
Marketing and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.85M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.44M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$928.00K	USD	1 Quarter
Interest and amortization of debt discount and expense	`InterestExpense`	$19.00K	USD	1 Quarter
Interest and amortization of debt discount and expense	`InterestExpense`	$78.00K	USD	1 Quarter
Other - net	`OtherNonoperatingIncomeExpense`	$8.00K	USD	1 Quarter
Other - net	`OtherNonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$858.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.43M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$531.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$328.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$530.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$897.00K	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.72M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.62M	shares	1 Quarter
Effect of dilutive securities (in Shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	77,000.00	shares	1 Quarter
Effect of dilutive securities (in Shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	137,000.00	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.76M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.80M	shares	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
Diluted (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 Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$530.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$897.00K	USD	1 Quarter
Depreciation of property, plant and equipment	`DepreciationAndAmortization`	$67.00K	USD	1 Quarter
Depreciation of property, plant and equipment	`DepreciationAndAmortization`	$55.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$308.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$187.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$133.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$52.00K	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`	$36.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$147.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$137.00K	USD	1 Quarter
Tax shortfall from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-58.00K	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`	$5.16M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-4.82M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.68M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$519.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$318.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$5.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$14.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-153.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.73M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$200.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-755.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.13M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.17M	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.00K	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$79.00K	USD	1 Quarter
Proceeds from disposition of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.00K	USD	1 Quarter
Capitalized costs of internally developed intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.00K	USD	1 Quarter
Capitalized costs of internally developed intangible assets	`PaymentsToAcquireIntangibleAssets`	$253.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-290.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-75.00K	USD	1 Quarter
Repayments under revolving line of credit, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-3.91M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$735.00K	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$628.00K	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$798.00K	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$100.00K	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$11.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$287.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$387.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-491.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.29M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.35M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-194.00K	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`	$214.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.56M	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`	$214.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.56M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$205.00K	USD	Point-in-time
Income taxes paid, net of refunds received	`IncomeTaxesPaid`	$440.00K	USD	1 Quarter
Income taxes paid, net of refunds received	`IncomeTaxesPaid`	$104.00K	USD	1 Quarter
Interest paid, net of interest received	`InterestPaidNet`	$38.00K	USD	1 Quarter
Interest paid, net of interest received	`InterestPaidNet`	$11.00K	USD	1 Quarter
Dividends declared but unpaid	`DividendsPayableCurrentAndNoncurrent`	$-289.00K	USD	Point-in-time
Dividends declared but unpaid	`DividendsPayableCurrentAndNoncurrent`	$-780.00K	USD	Point-in-time

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