Crown Crafts, Inc.

Ladies and gentlemen, thank you for your patience. The call will begin shortly. Good day and welcome to the Crown Crafts Inc. Fourth Quarter Fiscal Year 2024 Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touch-tone phone. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would now like to turn the conference over to John Beisler, Investor Relations. Please go ahead.

Thank you, Betsy, and good morning, everyone. We appreciate you joining us for the Crown Crafts fourth quarter and fiscal 2024 conference call. Joining me on the call today are Crown Crafts President and CEO Olivia Elliott and the company's CFO, Craig Demarest. Earlier this morning, Crown Crafts filed its 10-K and issued a press release regarding the fourth quarter and fiscal 2024 financial results. A copy of this release is available on the company's website, crowncrafts.com. During today's call, the company will make certain forward-looking statements, and actual results may differ materially from those expressed or implied. These statements are subject to risks and uncertainties that may be on Crown Crafts Control, and the company is under no obligation to update these statements. For more information about the company's risk factors and other uncertainties, please refer to the company's filings with the Securities and Exchange Commission. Finally, I would like to remind you today's call is being recorded and a replay will be available through the company's investor relations page. Now I'd like to turn the call over to the president and CEO, Olivia Elliott.

Thank you, John, and good morning, everyone. Fiscal 2024 was a transitional year for the company. We started the year on the heels of acquiring and integrating Manhattan Toy, as well as exploring the cross-selling opportunities made possible by the acquisitions. We remain enthusiastic about the addition of Manhattan Toy as our offerings across the toy category continue to grow. Additionally, we plan to leverage our longstanding relationships with major retailers and specialty stores to gain shelf space and position our brands for future growth. We also continue to proactively manage the impact of the economic headwinds facing our operations and our customers. Inflationary pressures continue to linger raising costs for materials and labor, and reducing the discretionary income of consumers, which has a more meaningful impact on lower income households. We will continue to strategically manage our cost structure and sales process, but remain well positioned with our balance sheet and expect to see some of the macro pressure lessen throughout the remainder of the year. Despite these current challenges, we were able to minimize the impact on gross margin by proactively managing costs across the business. As a result, we've reported another year of profitability, and we reduced our debt by $4.6 million from the end of fiscal 2023. With that, I would like to turn it over to Craig to cover the financials in more detail.