UNITED STATES
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): February 10, 2010 (February 9, 2010)
Crown Crafts, Inc.
(Exact name of registrant as specified in its charter)
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Delaware
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1-7604
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58-0678148 |
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.) |
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916 South Burnside Avenue,
Gonzales, LA
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70737 |
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(Address of principal executive offices)
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(Zip Code) |
Registrants telephone number, including area code: (225) 647-9100
(Former name or former address, if changed since last report.)
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. Entry into a Material Definitive Agreement.
On February 9, 2010, Crown Crafts, Inc. (the Company) and its wholly-owned subsidiaries,
Crown Crafts Infant Products, Inc., Churchill Weavers, Inc. and Hamco, Inc. (together with the Company,
the Borrowers), entered into a Fifth Amendment to Financing Agreement (the Fifth Amendment)
with The CIT Group/Commercial Services, Inc. (CIT) to amend that certain Financing Agreement
between the Borrowers and CIT dated July 11, 2006 to permit the payment by the Company of cash
dividends on its common stock of up to $500,000 in the aggregate.
The description contained herein of the Fifth Amendment is qualified in its entirety by
reference to the terms of such document, which is attached hereto as an exhibit and incorporated
herein by this reference.
Item 2.02. Results of Operations and Financial Condition.
The information in this Item 2.02 of 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 Item 2.02 of 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 February 10, 2010, the Company issued a press release announcing its financial results for
the third quarter of fiscal year 2010, which ended December 27, 2009. A copy of that press release
is attached hereto as Exhibit 99.1
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report is incorporated herein by
reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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10.1 |
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Fifth Amendment to Financing Agreement dated as of February 9, 2010
by and among Crown Crafts, Inc., Churchill Weavers, Inc., Hamco,
Inc., Crown Crafts Infant Products, Inc. and The CIT Group/Commercial
Services, Inc. |
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99.1 |
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Press Release dated February 10, 2010. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company
has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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CROWN CRAFTS, INC.
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By: |
/s/ Olivia W. Elliott
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Olivia W. Elliott, |
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Vice President and Chief Financial Officer |
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Dated: February 10, 2010