Crown Crafts reports $0.19 GAAP EPS and $16.8M revenue as gross margins surge due to tariff refunds.
Crown Crafts posted first-quarter GAAP earnings of $0.19 per share and revenue of $16.8 million, up 8.4% year over year. The company’s gross profit margin jumped to 47.9% from 22.7% in the same period last year, driven by tariff refunds recorded in the quarter.
Without the tariff refunds, gross profit margin would have been 25.6%, reflecting a 290 basis point increase from the prior-year quarter. The revenue growth marks a continued recovery in demand for the company’s products.
No immediate market reaction was disclosed in the release.