10-Q Filing

CROWN CRAFTS INC CIK: 25895 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001437749-19-016647`
Period End Date	20190630
Filing Date	20190814
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	crws-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 96 Income Statement 30 Cash Flow Statement 60 Stockholders Equity 16

Balance Sheet 96 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$541.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$407.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$143.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$199.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$215.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.47M	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`	$11.39M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	12.55M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	12.55M	shares	Point-in-time
Due from factor	`DueFromFactor`	$17.25M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	2.43M	shares	Point-in-time
Other	`OtherReceivablesNetCurrent`	$522.00K	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	2.42M	shares	Point-in-time
Other	`OtherReceivablesNetCurrent`	$1.08M	USD	Point-in-time
Inventories	`InventoryNet`	$19.53M	USD	Point-in-time
Inventories	`InventoryNet`	$20.45M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.23M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$37.52M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$1.60M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$1.90M	USD	Point-in-time
Vehicles	`PropertyPlantAndEquipmentOther`	$323.00K	USD	Point-in-time
Vehicles	`PropertyPlantAndEquipmentOther`	$323.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$282.00K	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$282.00K	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$4.27M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$4.35M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$799.00K	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$799.00K	USD	Point-in-time
Property, plant and equipment - gross	`PropertyPlantAndEquipmentGross`	$5.67M	USD	Point-in-time
Property, plant and equipment - gross	`PropertyPlantAndEquipmentGross`	$5.75M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.75M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.93M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$1.92M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$1.82M	USD	Point-in-time
Tradename and trademarks	`FinitelivedTrademarksAndTradeNamesGross`	$3.67M	USD	Point-in-time
Tradename and trademarks	`FinitelivedTrademarksAndTradeNamesGross`	$3.67M	USD	Point-in-time
Customer relationships	`FiniteLivedCustomerRelationshipsGross`	$7.37M	USD	Point-in-time
Customer relationships	`FiniteLivedCustomerRelationshipsGross`	$7.37M	USD	Point-in-time
Other finite-lived intangible assets	`OtherFiniteLivedIntangibleAssetsGross`	$3.16M	USD	Point-in-time
Other finite-lived intangible assets	`OtherFiniteLivedIntangibleAssetsGross`	$3.16M	USD	Point-in-time
Finite-lived intangible assets gross	`FiniteLivedIntangibleAssetsGross`	$14.20M	USD	Point-in-time
Finite-lived intangible assets gross	`FiniteLivedIntangibleAssetsGross`	$14.20M	USD	Point-in-time
Less accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$7.77M	USD	Point-in-time
Less accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$7.98M	USD	Point-in-time
Finite-lived intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$6.22M	USD	Point-in-time
Finite-lived intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$6.43M	USD	Point-in-time
Goodwill	`Goodwill`	$7.12M	USD	Point-in-time
Goodwill	`Goodwill`	$7.12M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$524.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$612.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$97.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$95.00K	USD	Point-in-time
Total Assets	`Assets`	$54.99M	USD	Point-in-time
Total Assets	`Assets`	$54.78M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.69M	USD	Point-in-time
Accrued wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.23M	USD	Point-in-time
Accrued wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$1.82M	USD	Point-in-time
Accrued royalties	`AccruedRoyaltiesCurrent`	$317.00K	USD	Point-in-time
Accrued royalties	`AccruedRoyaltiesCurrent`	$398.00K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$810.00K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$810.00K	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$933.00K	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$483.00K	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$646.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.71M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.62M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.49M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Operating lease liabilities, noncurrent	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease liabilities, noncurrent	`OperatingLeaseLiabilityNoncurrent`	$747.00K	USD	Point-in-time
Reserve for unrecognized tax liabilities	`LiabilityForUncertainTaxPositionsNoncurrent`	$921.00K	USD	Point-in-time
Reserve for unrecognized tax liabilities	`LiabilityForUncertainTaxPositionsNoncurrent`	$1.19M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$1.67M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$5.68M	USD	Point-in-time
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at June 30, 2019 and March 31, 2019; Issued 12,546,789 shares at June 30, 2019 and March 31, 2019	`CommonStockValue`	$125.00K	USD	Point-in-time
Common stock - $0.01 par value per share; Authorized 40,000,000 shares at June 30, 2019 and March 31, 2019; Issued 12,546,789 shares at June 30, 2019 and March 31, 2019	`CommonStockValue`	$125.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$53.32M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$53.25M	USD	Point-in-time
Treasury stock - at cost - 2,427,434 shares at June 30, 2019 and 2,424,231 shares at March 31, 2019	`TreasuryStockValue`	$12.34M	USD	Point-in-time
Treasury stock - at cost - 2,427,434 shares at June 30, 2019 and 2,424,231 shares at March 31, 2019	`TreasuryStockValue`	$12.33M	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$607.00K	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$338.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$39.32M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$38.79M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$41.70M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$41.39M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$54.78M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$54.99M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$15.94M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$15.46M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$11.39M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$11.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.55M	USD	1 Quarter
Marketing and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.69M	USD	1 Quarter
Marketing and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.45M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$443.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.10M	USD	1 Quarter
Interest income (expense) - net	`InterestIncomeExpenseNonoperatingNet`	$29.00K	USD	1 Quarter
Interest income (expense) - net	`InterestIncomeExpenseNonoperatingNet`	$-99.00K	USD	1 Quarter
Other - net	`OtherNonoperatingIncomeExpense`	$8.00K	USD	1 Quarter
Other - net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$344.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.14M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$80.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$57.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.08M	USD	1 Quarter
Net income	`NetIncomeLoss`	$264.00K	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.07M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.12M	shares	1 Quarter
Effect of dilutive securities (in shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	2,000.00	shares	1 Quarter
Effect of dilutive securities (in shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	-	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.12M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.07M	shares	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.08M	USD	1 Quarter
Net income	`NetIncomeLoss`	$264.00K	USD	1 Quarter
Depreciation of property, plant and equipment	`DepreciationAndAmortization`	$179.00K	USD	1 Quarter
Depreciation of property, plant and equipment	`DepreciationAndAmortization`	$138.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$214.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$200.00K	USD	1 Quarter
Amortization of right of use assets	`AmortizationOfRightOfUseAssets`	-	USD	1 Quarter
Amortization of right of use assets	`AmortizationOfRightOfUseAssets`	$333.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$20.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-88.00K	USD	1 Quarter
Reserve for unrecognized tax liabilities	`IncreaseInReserveForUnrecognizedTaxBenefits`	$28.00K	USD	1 Quarter
Reserve for unrecognized tax liabilities	`IncreaseInReserveForUnrecognizedTaxBenefits`	$-273.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$110.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$65.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.94M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.30M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$971.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$915.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$11.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-94.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.00K	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInLeaseLiability`	-	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInLeaseLiability`	$-352.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.46M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.30M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-410.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$590.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.61M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.69M	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$55.00K	USD	1 Quarter
Capital expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$102.00K	USD	1 Quarter
Repayments under revolving line of credit	`RepaymentsOfLongTermLinesOfCredit`	$16.78M	USD	1 Quarter
Repayments under revolving line of credit	`RepaymentsOfLongTermLinesOfCredit`	$13.57M	USD	1 Quarter
Borrowings under revolving line of credit	`ProceedsFromLongTermLinesOfCredit`	$11.16M	USD	1 Quarter
Borrowings under revolving line of credit	`ProceedsFromLongTermLinesOfCredit`	$9.09M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$95.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$17.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$807.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$810.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.52M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.31M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-16.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.32M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$143.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$199.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$215.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.47M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$143.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$199.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$215.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.47M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$3.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$3.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$28.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$75.00K	USD	1 Quarter
Property, plant and equipment purchased but unpaid	`CapitalExpendituresIncurredButNotYetPaid`	$24.00K	USD	1 Quarter
Property, plant and equipment purchased but unpaid	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Dividends declared but unpaid	`DividendsPayableCurrentAndNoncurrent`	$810.00K	USD	Point-in-time
Dividends declared but unpaid	`DividendsPayableCurrentAndNoncurrent`	$806.00K	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$39.32M	USD	Point-in-time
Balances	`StockholdersEquity`	$38.79M	USD	Point-in-time
Balances	`StockholdersEquity`	$41.70M	USD	Point-in-time
Balances	`StockholdersEquity`	$41.39M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$110.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$65.00K	USD	1 Quarter
Acquisition of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$95.00K	USD	1 Quarter
Acquisition of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$17.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.08M	USD	1 Quarter
Net income	`NetIncomeLoss`	$264.00K	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStock`	$810.00K	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStock`	$806.00K	USD	1 Quarter
Balances	`StockholdersEquity`	$39.32M	USD	Point-in-time
Balances	`StockholdersEquity`	$38.79M	USD	Point-in-time
Balances	`StockholdersEquity`	$41.70M	USD	Point-in-time
Balances	`StockholdersEquity`	$41.39M	USD	Point-in-time

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