Exhibit 99.1
| For Immediate Release | August 15, 2007 |
Crown Crafts, Inc. Reports Results for First Quarter of Fiscal Year 2008
Gonzales, Louisiana – Crown Crafts, Inc. (the “Company”) (NASDAQ-CM: CRWS) today reported net
income for the first quarter of fiscal year 2008 of $985,000, or $0.10 per diluted share, on net
sales of $15.4 million compared to net income for the first quarter of fiscal year 2007 of
$911,000, or $0.04 per diluted share, on net sales of $15.8 million. As a result of the Company’s
debt refinancing in fiscal year 2007, diluted shares decreased from 22.1 million in the prior year
to 10.3 million for the current year.
“We are pleased to report another first quarter of profitability, an achievement we have made for
only the second time since the Company’s restructuring in July 2001. Our restructuring efforts,
including the refinancing in July 2006, have positioned us well for future growth opportunities
through strategic acquisitions and organic initiatives,” commented E. Randall Chestnut, Chairman,
President and Chief Executive Officer of the Company. “Additionally, we are extremely happy to
continue to report a lower debt balance. As of the end of the first quarter, the Company had
non-interest-bearing debt of $3.1 million, no balance on the revolver and cash on hand of $0.5
million,” Mr. Chestnut concluded.
The Company will host a teleconference today at 1:00 p.m. Central Daylight Time to discuss the
Company’s results and answer appropriate questions from stockholders. Interested investors may
join the teleconference by dialing (888) 428-4476. Please refer to confirmation number 882420. The
teleconference can also be accessed in listen-only mode by visiting the Company’s website at
www.crowncrafts.com. The financial information to be discussed during the teleconference may be
found prior to the call on the investor relations portion of the Company’s website.
A telephone replay of the teleconference will be available from 4:30 p.m. Central Daylight
Time on August 15, 2007 through 11:59 p.m. Central Daylight Time on August 22, 2007. To access the
replay, dial (800) 475-6701 in the United States or (320) 365-3844 from international locations.
The access code for the replay is 882420.
Crown Crafts, Inc. designs, markets and distributes infant consumer products,
including bedding, blankets, bibs, bath items and accessories. Its subsidiaries include Hamco,
Inc. in Louisiana and Crown Crafts Infant Products, Inc. in California. Crown Crafts is America’s
largest distributor of infant bedding, bibs and bath items. The Company’s 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 management’s 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 Company’s products, changing
competition, changes in the