Crown Crafts Announces Patent Litigation Settlement With BreathableBaby

(RTTNews) - Crown Crafts Inc (CRWS) and BreathableBaby LLC jointly announced on Tuesday that they have reached a settlement with respect to a patent infringement lawsuit filed in January 2012 by BreathableBaby in Minneapolis regarding a U.S. Patent which claims certain innovations concerning mesh crib liners. Crown Crafts has agreed to pay BreathableBaby $850,000.

"We are pleased that we were able to reach an amicable agreement, and now we can devote our full attention to operating our business," said Randall Chestnut, Chief Executive Officer of Crown Crafts. "A one-time charge was recorded in the second quarter of our 2015 fiscal year, which ended September 28, 2014, that will impact our full-year net income on an after-tax basis by approximately $530,000, or $0.05 per share."

Crown Craft designs and distributes infant, toddler and juvenile consumer products.