Summer Infant Announces Solid Start to Q4
December 07 2017 - 8:00AM
Summer Infant, Inc. ("Summer Infant" or the "Company")
(NASDAQ:SUMR), a global leader in premium infant and juvenile
products, today announced that the Company is on track in terms of
new product introductions this quarter, with many new monitors,
strollers, and seats either already in stores or planned for
shipment later this month. Management’s opinion of overall year-end
demand remains positive, mirroring what was indicated on the
Company’s third quarter earnings call.
“I am happy to announce that Summer Infant, as
anticipated, is seeing nice top line performance this quarter –
indicative of solid demand across a number of key product
categories – and our product innovation continues with the
introduction of several exciting new items,” said Mark Messner,
President and CEO. “Our patent-pending Baby PixelTM 5.0 touchscreen
color video monitor provides peace of mind by allowing parents to
know their babies are secure within our SleepZoneTM Virtual
Boundary. In addition, our My Bath SeatTM provides a helping hand
to parents at bath time and is great for increasingly-mobile
infants transitioning to a regular tub. We’re also introducing new
mini strollers and a cool SuperSeat this quarter, as we look to
boost our positioning heading into 2018. Overall, we’re excited
about our entire lineup and continue to work on product development
as well as a revamped channel strategy.”
About Summer Infant, Inc.Based
in Woonsocket, Rhode Island, the Company is a global leader of
premium infant and juvenile products which are sold principally to
large North American and international retailers. The Company
currently sells proprietary products in a number of different
categories including nursery, audio/video monitors, safety gates,
durable bath products, bed rails, nursery products, strollers,
booster and potty seats, swaddling blankets, bouncers, travel
accessories, highchairs, swings, and infant feeding products. For
more information about the Company, please visit
www.summerinfant.com.
Forward-Looking
StatementsCertain statements in this release that are not
historical fact may be deemed “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, and the Company
intends that such forward-looking statements be subject to the safe
harbor created thereby. These statements are accompanied by words
such as “anticipate,” “expect,” “project,” “will,” “believes,”
“estimate” and similar expressions, and include statements
regarding the Company’s expectations regarding fourth quarter 2017
shipments, orders and product rollouts, the impact of the TRU
bankruptcy on its business with Babies R Us in the fourth quarter
2017 and into 2018, anticipated future growth and operating
performance, and the impact of its brand strategy for 2017 and
beyond. The Company cautions that these statements are qualified by
important factors that could cause actual results to differ
materially from those reflected by such forward-looking
statements. Such factors include the concentration of the
Company’s business with retail customers; the ability of the
Company to compete in its industry; the Company’s ability to
continue to control costs and expenses, including legal expenses;
the Company’s dependence on key personnel; the Company’s reliance
on foreign suppliers; the Company’s ability to develop, market and
launch new products; the Company’s ability to grow sales with
existing and new customers and in new channels; the Company’s
ability to meet required financial covenants under its loan
agreements; and other risks as detailed in the Company’s Annual
Report on Form 10-K for the fiscal year ended December 31, 2016,
and subsequent filings with the Securities and Exchange
Commission. The Company assumes no obligation to update the
information contained in this release.
Company Contact:Chris WittyInvestor
Relations646-438-9385cwitty@darrowir.com
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