July 7, 2009 (FinancialWire) — Crown Crafts, Inc.’s (NASDAQ: CRWS) (Current Market Cap: $27.63 Mil.) board of directors has authorized a new share repurchase program under which the company may spend up to $2 million to repurchase outstanding shares of its common stock through December 31.

Company CEO Randall Chestnut said, “We believe the price of the company’s shares is an extraordinary value in light of the company’s performance during trying economic times,” Chestnut continued.

Gonzales, Louisiana-based Crown Crafts designs, markets and distributes infant and toddler consumer products, including bedding, blankets, bibs, bath items and accessories.

The company’s operating subsidiaries include Hamco in Louisiana and Crown Crafts Infant Products in California. The company’s products include licensed and branded collections as well as private label programs for certain of its customers.

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