10-Q Filing

CROWN CRAFTS INC CIK: 25895 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001437749-14-015180`
Period End Date	20140630
Filing Date	20140813
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	crws-20140629.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 36 Cash Flow Statement 55

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Due from factor, allowances (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$559.00K	USD	Point-in-time
Due from factor, allowances (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$718.00K	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`	$2.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$340.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$560.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, shares Issued	`CommonStockSharesIssued`	11.98M	shares	Point-in-time
Common stock, shares Issued	`CommonStockSharesIssued`	11.79M	shares	Point-in-time
Due from factor	`DueFromFactor`	$13.99M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.93M	shares	Point-in-time
Due from factor	`DueFromFactor`	$20.80M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.93M	shares	Point-in-time
Other	`AccountsReceivableNetCurrent`	$912.00K	USD	Point-in-time
Other	`AccountsReceivableNetCurrent`	$809.00K	USD	Point-in-time
Inventories	`InventoryNet`	$13.61M	USD	Point-in-time
Inventories	`InventoryNet`	$18.04M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.39M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$967.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$799.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$852.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$40.88M	USD	Point-in-time
Vehicles	`PropertyPlantAndEquipmentOther`	$193.00K	USD	Point-in-time
Vehicles	`PropertyPlantAndEquipmentOther`	$192.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$213.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$213.00K	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$2.67M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$2.72M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$738.00K	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$738.00K	USD	Point-in-time
Property, plant and equipment - gross	`PropertyPlantAndEquipmentGross`	$3.81M	USD	Point-in-time
Property, plant and equipment - gross	`PropertyPlantAndEquipmentGross`	$3.86M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.23M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.31M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$586.00K	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$551.00K	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`	$7.61M	USD	Point-in-time
Other finite-lived intangible assets	`OtherFiniteLivedIntangibleAssetsGross`	$7.61M	USD	Point-in-time
Finite-lived intangible assets - gross	`FiniteLivedIntangibleAssetsGross`	$13.02M	USD	Point-in-time
Finite-lived intangible assets - gross	`FiniteLivedIntangibleAssetsGross`	$13.02M	USD	Point-in-time
Less accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$7.97M	USD	Point-in-time
Less accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$7.78M	USD	Point-in-time
Finite-lived intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$5.25M	USD	Point-in-time
Finite-lived intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$5.05M	USD	Point-in-time
Goodwill	`Goodwill`	$1.13M	USD	Point-in-time
Goodwill	`Goodwill`	$1.13M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.11M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.35M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$91.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$77.00K	USD	Point-in-time
Total Assets	`Assets`	$46.22M	USD	Point-in-time
Total Assets	`Assets`	$49.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.59M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.07M	USD	Point-in-time
Accrued wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.43M	USD	Point-in-time
Accrued wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.16M	USD	Point-in-time
Accrued royalties	`AccruedRoyaltiesCurrent`	$1.14M	USD	Point-in-time
Accrued royalties	`AccruedRoyaltiesCurrent`	$1.31M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$804.00K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$789.00K	USD	Point-in-time
Income taxes currently payable	`AccruedIncomeTaxesCurrent`	$787.00K	USD	Point-in-time
Income taxes currently payable	`AccruedIncomeTaxesCurrent`	$696.00K	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$91.00K	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$104.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.66M	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 June 29, 2014 and March 30, 2014; Issued 11,982,302 shares at June 29, 2014 and 11,794,070 shares at March 30, 2014	`CommonStockValue`	$120.00K	USD	Point-in-time
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at June 29, 2014 and March 30, 2014; Issued 11,982,302 shares at June 29, 2014 and 11,794,070 shares at March 30, 2014	`CommonStockValue`	$118.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$47.74M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$47.16M	USD	Point-in-time
Treasury stock - at cost - 1,932,744 shares at June 29, 2014 and March 30, 2014	`TreasuryStockValue`	$8.15M	USD	Point-in-time
Treasury stock - at cost - 1,932,744 shares at June 29, 2014 and March 30, 2014	`TreasuryStockValue`	$8.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.32M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.22M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$36.40M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$35.92M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$49.05M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$46.22M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$16.61M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$15.70M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$12.12M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$11.42M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.28M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.49M	USD	1 Quarter
Legal expense	`LegalFees`	$259.00K	USD	1 Quarter
Legal expense	`LegalFees`	$192.00K	USD	1 Quarter
Other Marketing and administrative expenses	`OtherSellingGeneralAndAdministrativeExpense`	$2.91M	USD	1 Quarter
Other Marketing and administrative expenses	`OtherSellingGeneralAndAdministrativeExpense`	$2.97M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.32M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.12M	USD	1 Quarter
Interest expense	`InterestExpense`	$21.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$8.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.00K	USD	1 Quarter
Other - net	`OtherNonoperatingIncomeExpense`	$5.00K	USD	1 Quarter
Other - net	`OtherNonoperatingIncomeExpense`	$-3.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.31M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.13M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$487.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$424.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$822.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$703.00K	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.98M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.83M	shares	1 Quarter
Effect of dilutive securities (in Shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	12,000.00	shares	1 Quarter
Effect of dilutive securities (in Shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	44,000.00	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.84M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.03M	shares	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Cash dividends declared per share (in Dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.08	USD	1 Quarter
Cash dividends declared per share (in Dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.08	USD	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$822.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$703.00K	USD	1 Quarter
Depreciation of property, plant and equipment	`DepreciationAndAmortization`	$76.00K	USD	1 Quarter
Depreciation of property, plant and equipment	`DepreciationAndAmortization`	$80.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$194.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$183.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-298.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$215.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$193.00K	USD	1 Quarter
Tax shortfall from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$4.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.83M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.91M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$4.43M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$4.19M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-74.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-424.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$14.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.52M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-917.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$179.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$306.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.48M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.38M	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.00K	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$45.00K	USD	1 Quarter
Capitalized costs of internally developed intangible assets	`PaymentsToAcquireIntangibleAssets`	$16.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-35.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-45.00K	USD	1 Quarter
Repayments under revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-9.95M	USD	1 Quarter
Borrowings under revolving line of credit	`ProceedsFromLinesOfCredit`	$9.95M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$55.00K	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$51.00K	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$10.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$789.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$786.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-790.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-779.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.66M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.55M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.89M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.22M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$340.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$560.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.89M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$340.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$560.00K	USD	Point-in-time
Income taxes paid, net of refunds received	`IncomeTaxesPaid`	$705.00K	USD	1 Quarter
Income taxes paid, net of refunds received	`IncomeTaxesPaid`	$804.00K	USD	1 Quarter
Interest paid, net of interest received	`InterestPaidNet`	$3.00K	USD	1 Quarter
Interest paid, net of interest received	`InterestPaidNet`	$12.00K	USD	1 Quarter
Dividends declared but unpaid	`DividendsPayableCurrentAndNoncurrent`	$-786.00K	USD	Point-in-time
Dividends declared but unpaid	`DividendsPayableCurrentAndNoncurrent`	$-804.00K	USD	Point-in-time
Compensation paid in common stock	`StockIssued1`	$354.00K	USD	1 Quarter

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