Exhibit 99.1
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| For Immediate Release
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March 19, 2007 |
Crown Crafts, Inc. Announces Move to NASDAQ Capital Market
Gonzales, Louisiana Crown Crafts, Inc. (the Company) (OTCBB: CRWS) announced today that
its application for listing of its common stock on The NASDAQ Capital Market (NASDAQ) has been
approved. The Company will begin trading on NASDAQ under the symbol
CRWS when the market opens today,
March 19, 2007.
E. Randall Chestnut, Chairman, President and CEO of Crown Crafts, said, We are proud to be moving
to The NASDAQ Capital Market, created for companies that meet stringent financial listing
requirements. This is an exciting and significant event in the life of our Company. NASDAQ attracts
growth companies from across all industry sectors, and we look forward to being a part of this
exciting market.
Crown Crafts, Inc. designs, markets and distributes infant and juvenile consumer products,
including bedding, blankets, bibs, bath items and accessories, and luxury hand-woven home décor.
Its subsidiaries include Hamco, Inc. in Louisiana, Crown Crafts Infant Products, Inc. in California
and Churchill Weavers, Inc. in Kentucky. Crown Crafts is Americas largest distributor of infant
bedding, bibs and bath items. The Companys products include licensed and branded collections as
well as exclusive private label programs for certain of its customers.
This release contains forward-looking statements within the meaning of the Securities Act of
1933, the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995.
Such statements are based upon managements current expectations, projections, estimates and
assumptions. Words such as expects, believes, anticipates and variations of such words and
similar expressions identify such forward-looking statements. Forward-looking statements involve
known and unknown risks and uncertainties that may cause future results to differ materially from
those suggested by the forward-looking statements. These risks include, among others, general
economic conditions, including changes in interest rates, in the overall level of consumer spending
and in the price of oil, cotton and other raw materials used in the Companys products, changing
competition, changes in the retail environment, the level and pricing of future orders from the
Companys customers, the Companys dependence upon third-party suppliers, including some located in
foreign countries, customer acceptance of both new designs and newly-introduced product lines,
actions of competitors that may impact the Companys business, disruptions to transportation
systems or shipping lanes used by the Company or its suppliers, and the Companys dependence upon
licenses from third parties. Reference is also made to the Companys periodic filings with the
Securities and Exchange Commission for additional factors that may impact the Companys results of
operations and financial condition. The Company does not undertake to update the forward-looking
statements contained herein to conform to actual results or changes in our expectations, whether as
a result of new information, future events or otherwise.
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Contact:
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Olivia Elliott |
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(225) 647-9124 |