EX-99.2 3 c04843exv99w2.htm EXHIBIT 99.2 EXHIBIT 99.2
Exhibit 99.2
(CROWN CRAFTS, INC. LOGO)
 
CORPORATE FACT SHEET
CORPORATE PROFILE
Crown Crafts, Inc., founded in 1957, designs, markets and distributes infant, toddler and juvenile consumer products. It is one of America’s largest providers of infant bedding, bibs and bath items. The Company’s product portfolio includes crib and toddler bedding, blankets, nursery accessories, room décor, burp cloths, bathing accessories, reusable and disposable bibs and placemats, floor mats, toilet seat covers and changing mats. Crown Crafts operates indirectly through its wholly owned subsidiaries, Crown Crafts Infant Products, Inc. in California, and Hamco, Inc. in Louisiana.
Sales are generally made directly to retailers, mass merchants, large chain and specialty stores, mid-tier retailers, juvenile specialty stores, wholesale clubs and catalog and Internet retailers. These products include licensed and branded collections as well as exclusive private label programs for certain customers. Crown Crafts products are manufactured primarily in Asia, with a representative office in China to coordinate production efficiencies, social compliance, quality, and to seek new vendor opportunities.
Crown Crafts’ products are marketed through a national sales force, with sales offices located in California, Louisiana, and Arkansas. New products are introduced each year at the annual ABC Kids Expo and the General Merchandising and Health Beauty Wellness conferences as well as trade shows for children’s products and various other gift shows. Private label products are introduced throughout the year.

Crown Crafts Infant Products
 
  Leading manufacturer of infant and toddler bedding, blankets and accessories
 
  Premier supplier of nursery décor and accessories, producing fashion-forward products for every relevant distribution channel
 
  Innovative July 2010 product launch of Neat Solutions for Pets—a new line of pet beds and accessories
 
  Acquired Springs Global US infant and toddler product lines in November 2007
 
  Acquired Kimberly Grant brand in December 2006
Hamco
 
  Leading designer, producer and marketer of infant and toddler bib, bath and disposable products
 
  Significant bib category market share
 
  Extensive proprietary design expertise
 
  Entered disposable products market with the 2009 Neat Solutions® acquisition and the 2010 acquisition of Bibsters®
 
  Neat Solutions® provides more than 95% market share in their offerings of infant disposable products


CORPORATE OFFICE
Crown Crafts, Inc.
916 South Burnside Ave.
Gonzales, LA 70737
(800) 433-9560
(225) 647-9100
www.crowncrafts.com
INVESTMENT DATA
Crown Crafts, Inc. is listed on
the NASDAQ Capital Market
(CRWS).
Market Capitalization:
$39.14 million
Shares Outstanding:
9.25 million
Fiscal Year Ends:
Sunday nearest March 31
Recent Price:
$4.23
Information as of 7/30/10
(CROWN CRAFTS PRODUCTS, INC. FOOTER GRAPHIC)

 

 


 

CROWN CRAFTS, INC. CORPORATE FACT SHEET
OPERATIONAL AND FINANCIAL HIGHLIGHTS — FISCAL YEAR 2010
  In the midst of the challenging economic environment, the Company delivered a 23% increase in shareholders’ equity and achieved its highest Adjusted EBITDA since 1998 of $10.5 million.
 
  Instituted quarterly dividend payout of $0.02 per share
 
  International sales grew 164% compared to fiscal year 2009 and now exceed 10% of branded products’ total sales.
 
  Maintained a strong balance sheet, with debt reduced from $48 million in 2001 to $5.1 million at the end of fiscal 2010, of which $3.8 million is non-interest bearing.
 
  Successfully integrated July 2009 acquisition of Neat Solutions, Inc., further expanding product line offering and diversifying end-markets.
INVESTMENT HIGHLIGHTS
  Sourcing expertise and experience
 
  Strong relationships with multiple manufacturers and contractors to bring the industry’s best quality, pricing and speed to the market.
 
  Currently source from several countries, including China, Thailand and India.
 
  Extensive licensing experience and relationships - Strong retail relationships
 
  Minimal sales cycle seasonality
 
  Strong and stable infrastructure
 
  Proven track record of successful post-acquisition integration and realization of financial and operational synergies
Crown Crafts, Inc. and Subsidiaries Non-GAAP Reconciliation of Net Income to Adjusted EBITDA
                 
    Forecasted        
    Twelve Months Ending     Twelve Months Ended  
In Thousands   April 3, 2011     March 28, 2010  
Net income
  $ 6,125     $ 4,780  
Interest expense
    380       692  
Interest income
          (17 )
Income tax expense
    3,775       3,034  
Depreciation
    300       286  
Amortization
    1,200       1,544  
Impairment charge — asset held for sale
          154  
 
           
Adjusted EBITDA
  $ 11,780     $ 10,473  
 
           
CLIENT BASE
Crown Crafts’ customers are mass merchants, mid-tier retailers, juvenile specialty stores, value channel stores, grocery and drug stores, restaurants, internet accounts, wholesale clubs and catalogue retailers. The company’s largest customers are:
  Wal-Mart Stores, Inc.
 
  Babies ‘R Us / Toys ‘R US
 
  Target Corp.
(CROWN CRAFTS, INC. LOGO)