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CROWN CRAFTS REPORTS RECORD QUARTERLY SALES AND NET EARNINGS

 CROWN CRAFTS REPORTS RECORD QUARTERLY SALES AND NET EARNINGS
 CALHOUN, Ga., Oct. 15 /PRNewswire/ -- Crown Crafts, Inc. (AMEX: CRW) today announced financial results for the second quarter and first six months of its 1993 fiscal year.
 In the quarter ended Sept. 27, net sales reached a quarterly record of $41.0 million, an increase of 25 percent from net sales of $32.9 million in the prior year's second quarter. Strong sales growth occurred in both the comforters and accessories, and jacquard-woven cotton products lines.
 For the fiscal 1993 second quarter, net earnings advanced to $2.4 million, also a quarterly record and an increase of 33 percent over net earnings of $1.8 million in the second quarter of fiscal 1992. Because of the company's March 1992 public offering of common stock, average shares outstanding were 21 percent higher than in the year- earlier quarter. Earnings per share grew 12 percent to $0.29 in the current year quarter, from $0.26 a year ago.
 For the first half of fiscal 1993, net sales grew 15 percent, to $70.6 million, from $61.2 million in the first six months of the preceding fiscal year. Net earnings grew 40 percent, to $3.7 million, from 1992's $2.7 million. Earnings per share grew to $0.45 for the six months ended Sept. 27, up 15 percent from earnings per share of $0.39 in the first half of the prior fiscal year.
 Michael H. Bernstein, president and chief executive officer of Crown Crafts, stated: "With the nation's economy still stalled during the fiscal quarter just ended, I am quite pleased with the success of our strategies for expanding the business. Product introductions at the October market, currently in progress, are extensive and include an exciting collection of jacquard-woven cotton throws reproducing Norman Rockwell Saturday Evening Post covers, four Royal Sateen comforter ensembles, the second group of Timberlake product designs, and a jacquard-woven cotton throw depicting the forthcoming Elvis Presley postage stamp. These and other new products, combined with existing offerings, create significant growth potential over the next several months. I anticipate positive sales and earnings comparisons to continue for the balance of the fiscal year.
 "I am also pleased to report that the construction phase of our new 328,000-square-foot comforter manufacturing facility has been completed," Bernstein continued. "For the next several months, we will be programming, installing and testing the building's automated sortation and high-rack warehousing systems. By the time our next fiscal year begins on March 29, 1993, we will begin to reap the benefits of this lengthy and significant capital expansion project. We eagerly anticipate not only the increased efficiency and reduced operating costs which will occur, but also the more responsive distribution capabilities and service levels which will result from consolidating comforter operations into the new facility."
 Summary results for the quarters and six-month periods ended Sept. 27, 1992 and Sept. 29, 1991 are as follows:
 CROWN CRAFTS, INC.
 2nd quarter ended 9/27/92 9/29/91
 Net sales $40,986,000 $32,850,000
 Net earnings $ 2,369,000 $ 1,784,000
 Net earnings per share $ 0.29 $ 0.26
 Average shares outstanding 8,276,770 6,848,431
 6 mos. ended 9/27/92 9/29/91
 Net sales $70,560,000 $61,230,000
 Net earnings $ 3,733,000 $ 2,669,000
 Net earnings per share $ 0.45 $ 0.39
 Average shares outstanding 8,267,910 6,832,766
 Crown Crafts Inc., headquartered in Calhoun, Ga., designs, manufactures and markets bed covering products and related fashion accessories. The company's two principal product categories are comforters and coordinated accessories, and jacquard-woven cotton products.
 -0- 10/15/92
 /CONTACT: Paul A. Criscillis Jr., vice president and chief financial officer of Crown Crafts, 706-629-7941/
 (CRW) CO: Crown Crafts ST: Georgia IN: TEX SU: ERN


EA-BR -- AT005 -- 0247 10/15/92 09:16 EDT
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Date:Oct 15, 1992
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