10-K Filing

CROWN CRAFTS INC CIK: 25895 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001437749-15-012189`
Period End Date	20150331
Filing Date	20150612
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	crws-20150329.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 38 Cash Flow Statement 60 Stockholders Equity 20

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$1.00M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$718.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$340.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.81M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$560.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Due from factor	`DueFromFactor`	$20.80M	USD	Point-in-time
Due from factor	`DueFromFactor`	$21.56M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	11.79M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	12.03M	shares	Point-in-time
Other	`OtherReceivablesNetCurrent`	$912.00K	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	1.93M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	1.96M	shares	Point-in-time
Other	`OtherReceivablesNetCurrent`	$807.00K	USD	Point-in-time
Inventories	`InventoryNet`	$15.47M	USD	Point-in-time
Inventories	`InventoryNet`	$13.61M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.39M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.91M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$968.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$799.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.52M	USD	Point-in-time
Vehicles	`PropertyPlantAndEquipmentOther`	$193.00K	USD	Point-in-time
Vehicles	`PropertyPlantAndEquipmentOther`	$235.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$213.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$230.00K	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$2.67M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$2.84M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$755.00K	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`	$4.06M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.53M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.23M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$586.00K	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$528.00K	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`	$7.78M	USD	Point-in-time
Less accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$8.52M	USD	Point-in-time
Finite-lived intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$5.25M	USD	Point-in-time
Finite-lived intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$4.51M	USD	Point-in-time
Goodwill	`Goodwill`	$1.13M	USD	Point-in-time
Goodwill	`Goodwill`	$1.13M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.13M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.11M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$133.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$77.00K	USD	Point-in-time
Total Assets	`Assets`	$46.22M	USD	Point-in-time
Total Assets	`Assets`	$49.95M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.47M	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`	$2.27M	USD	Point-in-time
Accrued royalties	`AccruedRoyaltiesCurrent`	$1.58M	USD	Point-in-time
Accrued royalties	`AccruedRoyaltiesCurrent`	$1.14M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$789.00K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$805.00K	USD	Point-in-time
Income taxes currently payable	`AccruedIncomeTaxesCurrent`	$787.00K	USD	Point-in-time
Income taxes currently payable	`AccruedIncomeTaxesCurrent`	$1.02M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$91.00K	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$230.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.37M	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 March 29, 2015 and March 30, 2014; Issued 12,030,302 shares at March 29, 2015 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 March 29, 2015 and March 30, 2014; Issued 12,030,302 shares at March 29, 2015 and 11,794,070 shares at March 30, 2014	`CommonStockValue`	$118.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$48.56M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$47.16M	USD	Point-in-time
Treasury stock - at cost - 1,964,886 shares at March 29, 2015 and 1,932,744 shares at March 30, 2014	`TreasuryStockValue`	$8.39M	USD	Point-in-time
Treasury stock - at cost - 1,964,886 shares at March 29, 2015 and 1,932,744 shares at March 30, 2014	`TreasuryStockValue`	$8.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-719.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.22M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$32.81M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$39.57M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$35.92M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$49.95M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$46.22M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$81.29M	USD	Annual
Net sales	`SalesRevenueGoodsNet`	$85.98M	USD	Annual
Cost of products sold	`CostOfGoodsSold`	$58.76M	USD	Annual
Cost of products sold	`CostOfGoodsSold`	$62.43M	USD	Annual
Gross profit	`GrossProfit`	$23.55M	USD	Annual
Gross profit	`GrossProfit`	$22.53M	USD	Annual
Legal expense	`LegalFees`	$867.00K	USD	Annual
Legal expense	`LegalFees`	$1.37M	USD	Annual
Other marketing and administrative expenses	`OtherSellingGeneralAndAdministrativeExpense`	$12.29M	USD	Annual
Other marketing and administrative expenses	`OtherSellingGeneralAndAdministrativeExpense`	$12.96M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$9.38M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$9.22M	USD	Annual
Interest expense	`InterestExpense`	$37.00K	USD	Annual
Interest expense	`InterestExpense`	$49.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$19.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$21.00K	USD	Annual
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-38.00K	USD	Annual
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-49.00K	USD	Annual
Other - net	`OtherNonoperatingIncomeExpense`	$34.00K	USD	Annual
Other - net	`OtherNonoperatingIncomeExpense`	$7.00K	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.16M	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.35M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$3.58M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$3.44M	USD	Annual
Net income	`NetIncomeLoss`	$5.77M	USD	Annual
Net income	`NetIncomeLoss`	$5.72M	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.85M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.05M	shares	Annual
Effect of dilutive securities (in shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	10,000.00	shares	Annual
Effect of dilutive securities (in shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	33,000.00	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.08M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.86M	shares	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.59	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.57	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.59	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.57	USD	Annual
Cash dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.32	USD	Annual
Cash dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.32	USD	Annual

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$5.77M	USD	Annual
Net income	`NetIncomeLoss`	$5.72M	USD	Annual
Depreciation of property, plant and equipment	`DepreciationAndAmortization`	$299.00K	USD	Annual
Depreciation of property, plant and equipment	`DepreciationAndAmortization`	$314.00K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$758.00K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$741.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-743.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-193.00K	USD	Annual
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$2.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$862.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$604.00K	USD	Annual
Tax shortfall from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$9.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-12.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$658.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$2.68M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.86M	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-682.00K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$515.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$56.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-594.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.31M	USD	Annual
Accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$1.01M	USD	Annual
Accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$1.25M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.64M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.77M	USD	Annual
Capital expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$147.00K	USD	Annual
Capital expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$256.00K	USD	Annual
Proceeds from disposition of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.00K	USD	Annual
Capitalized costs of internally developed intangible assets	`PaymentsToAcquireIntangibleAssets`	$16.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-161.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-256.00K	USD	Annual
Repayments under revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-7.84M	USD	Annual
Repayments under revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-10.32M	USD	Annual
Borrowings under revolving line of credit	`ProceedsFromLinesOfCredit`	$7.84M	USD	Annual
Borrowings under revolving line of credit	`ProceedsFromLinesOfCredit`	$10.32M	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$457.00K	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$243.00K	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$116.00K	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$307.00K	USD	Annual
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$42.00K	USD	Annual
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$69.00K	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$3.15M	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$3.21M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.26M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.26M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.25M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$220.00K	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$340.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.81M	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`	$340.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.81M	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`	$3.39M	USD	Annual
Income taxes paid, net of refunds received	`IncomeTaxesPaid`	$4.22M	USD	Annual
Interest paid, net of interest received	`InterestPaidNet`	$31.00K	USD	Annual
Interest paid, net of interest received	`InterestPaidNet`	$19.00K	USD	Annual
Dividends declared but unpaid	`DividendsPayableCurrentAndNoncurrent`	$-805.00K	USD	Point-in-time
Dividends declared but unpaid	`DividendsPayableCurrentAndNoncurrent`	$-789.00K	USD	Point-in-time
Compensation paid as common stock	`StockIssued1`	$354.00K	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balances -	`StockholdersEquity`	$32.81M	USD	Point-in-time
Balances -	`StockholdersEquity`	$39.57M	USD	Point-in-time
Balances -	`StockholdersEquity`	$35.92M	USD	Point-in-time
Issuance of shares	`StockIssuedDuringPeriodValueNewIssues`	$307.00K	USD	Annual
Issuance of shares	`StockIssuedDuringPeriodValueNewIssues`	$470.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$604.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$862.00K	USD	Annual
Net tax effect of stock-based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$33.00K	USD	Annual
Net tax effect of stock-based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$69.00K	USD	Annual
Acquisition of treasury stock (in shares)	`TreasuryStockSharesAcquired`	65,000.00	shares	Annual
Acquisition of treasury stock (in shares)	`TreasuryStockSharesAcquired`	32,000.00	shares	Annual
Acquisition of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$457.00K	USD	Annual
Acquisition of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$243.00K	USD	Annual
Net income	`NetIncomeLoss`	$5.77M	USD	Annual
Net income	`NetIncomeLoss`	$5.72M	USD	Annual
Dividends declared	`DividendsCommonStock`	$3.15M	USD	Annual
Dividends declared	`DividendsCommonStock`	$3.22M	USD	Annual
Balances -	`StockholdersEquity`	$32.81M	USD	Point-in-time
Balances -	`StockholdersEquity`	$39.57M	USD	Point-in-time
Balances -	`StockholdersEquity`	$35.92M	USD	Point-in-time

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