8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 21, 2005

Crown Crafts, Inc.

(Exact name of registrant as specified in its charter)

Delaware	1-7604	58-0678148
(State or other jurisdiction of	(Commission File Number)	(IRS Employer
incorporation)		Identification Number)

916 South Burnside Avenue, Gonzales, LA	70737
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (225) 647-9100

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

      The information in this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section. The information in this Current Report shall not be incorporated by reference into any registration statement or document pursuant to the Securities Act of 1933, as amended.

      On June 21, 2005, Crown Crafts, Inc. issued a press release announcing its financial results for the fourth quarter and fiscal year 2005, both of which ended April 3, 2005. A copy of that press release is attached hereto as Exhibit 99.1

Item 9.01. Financial Statements and Exhibits.

(c)	Exhibits
		99.1	Press Release dated June 21, 2005.

SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		CROWN CRAFTS, INC.
Date:	June 21, 2005	/s/ Amy Vidrine Samson
		Amy Vidrine Samson
		Vice President, Chief Financial Officer
		Chief Accounting Officer

1

Exhibit Index

Exhibit No.	Exhibit Description
99.1	Press Release dated June 21, 2005

2

EX-99.1

EXHIBIT 99.1

For Immediate Release June 21, 2005

Crown Crafts, Inc. Reports Fourth Quarter and Fiscal Year 2005 Results

Gonzales, Louisiana – Crown Crafts, Inc. (the “Company”) (OTCBB: CRWS) today reported net income for fiscal year 2005 of $2.4 million, or $0.11 per diluted share, on net sales of $83.9 million compared to net income for fiscal year 2004 of $3.1 million, or $0.14 per diluted share, on net sales of $86.2 million.

Net sales for the fourth quarter of fiscal year 2005 were $23.3 million, compared to net sales of $25.0 million for the fourth quarter of fiscal year 2004. Net income for the quarter was $0.8 million, or $0.04 per diluted share, compared to net income of $1.6 million, or $0.07 per diluted share, for the fourth quarter of fiscal year 2004.

The Company attributes the decline in sales to the direct-to-retail shift in the Company’s Classic Pooh license and a decrease in bib and bath sales due to the loss of a significant bath program. In addition, the elimination of quota on goods from China effective January 1, 2005 led to a reduction in the Company’s top line sales volume. Although the Company experienced a decline in gross margin, this decline was offset in part by savings in marketing, administrative and interest expenses.

“Fiscal year 2005 was a difficult year of transition as we moved from domestic contracting on many of our products to Asian sourcing. In addition, the elimination of quota on several of our products created top line erosion and squeezed margins as prices to retailers were reduced before we could obtain lower prices from our suppliers and work through our inventory. For the year, we are pleased that we maintained profitability and improved shareholder equity 13.2%,” commented E. Randall Chestnut, Chairman, President and Chief Executive Officer of the Company.

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 (877) 209-0397. Please refer to confirmation number 783420. 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 3:45 p.m. Central Daylight Time on June 21, 2005 through 11:59 p.m. Central Daylight Time on June 28, 2005. 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 783420.

Crown Crafts, Inc. designs, markets and distributes infant and juvenile consumer products, including bedding, blankets, bibs, bath items, diaper bags 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 America’s largest producer 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 retail environment, the level and pricing of future orders from the Company’s customers, the Company’s dependence upon third-party suppliers, including some located in foreign countries with unstable political situations, the Company’s ability to successfully implement new information technologies, customer acceptance of both new designs and newly-introduced product lines, actions of competitors that may impact the Company’s business, disruptions to transportation systems or shipping lanes used by the Company or its suppliers, and the Company’s dependence upon licenses from third parties. Reference is also made to the Company’s periodic filings with the Securities and Exchange Commission for additional factors that may impact the Company’s results of operations and financial condition.

CONSOLIDATED STATEMENTS OF OPERATIONS
SELECTED FINANCIAL DATA
In thousands, except per share data

	Three Months Ended						Twelve Months Ended
	April 3,			March 28,			April 3,			March 28,
	2005			2004			2005			2004
Net sales	$	23,331		$	25,044		$	83,908		$	86,227
Gross profit		4,510			6,072			17,025			19,594
Gross margin		19.3	%		24.2	%		20.3	%		22.7	%
Income from operations		1,812			2,782			6,237			7,434
Net income		778			1,574			2,438			3,103
Basic income per share		0.08			0.17			0.26			0.33
Diluted income per share		0.04			0.07			0.11			0.14
Weighted Average Shares Outstanding:
Basic		9,505			9,505			9,505			9,485
Diluted		21,971			22,278			21,945			22,393

CONSOLIDATED BALANCE SHEETS
SELECTED FINANCIAL DATA
In thousands

	April 3, 2005		March 28, 2004
Accounts receivable, net of allowances	$	14,368	$	17,221
Inventories, net of reserves		12,544		14,394
Total current assets		29,317		33,308
Goodwill		22,974		22,974
Total assets		54,124		58,387
Current maturities of long-term debt		2,317		3,016
Total current liabilities		8,164		11,503
Long-term debt		25,085		28,447
Total non-current liabilities		25,085		28,447
Stockholders’ equity		20,875		18,437
Total liabilities and stockholders’ equity		54,124		58,387

Contact:	Investor Relations Department
	(225) 647-9146
	or
	Halliburton Investor Relations
	(972) 458-8000