WOONSOCKET, R.I., Dec. 07, 2017 (GLOBE NEWSWIRE) — 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.
Certain 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.