Summer Infant, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported income before taxes of $319,000, net income of $444,000 or $0.02 per share on net revenues of $59,118,000 against income before taxes of $1,862,000, net income of $1,322,000 or $0.07 per share on net revenues of $62,999,000 for the same period a year ago. Adjusted EBITDA was $3,946,000 compared to $4,716,000 a year ago. Adjusted Net Income was $1,021,000 or $0.06 per diluted share compared to $1,322,000 or $0.07 per diluted share a year ago. Adjusted EBITDA for the first quarter of 2013 includes $0.4 million in permitted add back charges compared with no permitted add back charges in the first quarter of 2012. Net revenues decreased 6% was primarily driven by sales of discontinued non-profitable and low margin product SKUs throughout all product categories, as well as phasing out of licensing arrangements. As of March 31, 2013, the company had approximately $63.7 million of debt compared with $65.5 million of debt on December 31, 2012. Income before interest was $1,574,000 compared to $2,582,000 a year ago.

Summer Infant, Inc. has introduced upgraded versions of its Baby Touch(R) Digital Color Video Monitor with the Baby Touch(R) 2 and Baby Touch(R) Boost. The latest additions to the Baby Touch line maintain a wide range of fan favorite features including the unique talk-back option that allows caregivers to speak to baby via a handheld monitor, but also incorporate a host of advanced capabilities. Features on the new models include a higher-definition screen, an updated interface, multi-level zoom, and temperature gauge. The Baby Touch 2 version also includes automatic motion-tracking so parents and caregivers can track baby's movements throughout the crib or room. Baby Touch 2 is a modern touch-screen baby monitor that allows caregivers to watch baby's movements, hear her sounds, and monitor the nursery environment from anywhere in the home. This innovative monitor also has motion tracking that automatically follows baby's movements in the crib. The on-screen menu controls the monitor's pan and zoom, shows the temperature of baby's room, and allows for caregivers to control the camera nightlight. The unique talk-back option gives parents the ability to speak to baby via a handheld monitor and be heard through the camera in baby's nursery. Expandable up to four cameras for parents looking to monitor multiple children or rooms, the Baby Touch 2 truly grows with the family. Baby Touch Boost is another technologically-advanced video baby monitor. It includes a talk-back option, pan and zoom function, and temperature gauge all controlled from a convenient, centralized touch-screen handheld monitor. Expandable to up to four cameras, Baby Touch Boost can grow with a family's needs. Baby Touch 2 Digital Color Video Monitor is available exclusively at Babies "R" Us. Suggested retail price for the system is $249.99. The Baby Touch Boost Digital Color Video Monitor is available at Target, Buy Buy Baby, and various specialty retailers, for the suggested price of $239.99.

Summer Infant, Inc., Q1 2013 Earnings Call, May 13, 2013