SOURCE: Kid Brands, Inc.

Kid Brands, Inc.

December 20, 2012 16:30 ET

Kid Brands to Address NYSE Continued Listing Standards

EAST RUTHERFORD, NJ--(Marketwire - Dec 20, 2012) -   Kid Brands, Inc. (NYSE: KID) announced today that, in accordance with procedures of the New York Stock Exchange (the "NYSE"), the Company has notified the NYSE that it intends to submit, no later than January 28, 2013, a plan that the Company believes will demonstrate its ability to attain compliance, within 18 months, with the continued listing standards of the NYSE. Primarily as a result of the previously disclosed $45.0 million increase in the Company's non-cash valuation allowance for deferred tax assets recorded during the quarter ended September 30, 2012, which reduced the Company's stockholders' equity to $40.5 million, the Company fell short of meeting a NYSE continued listing standard because its average market capitalization was less than $50.0 million for a 30 trading-day period and its total stockholders' equity was less than $50.0 million. The NYSE notified the Company on December 14, 2012 of such shortfall.

If the NYSE accepts the Company's plan, the Company's common stock will continue to be listed on the NYSE during the 18-month cure period, subject to the compliance with other NYSE continued listing standards and quarterly review by the NYSE staff for compliance with this plan. If the plan is not submitted on a timely basis, is not accepted by the NYSE, or is accepted by the NYSE but the Company does not make progress consistent with the plan during the plan period, the Company will be subject to delisting proceedings.

Kid Brands, Inc.

Kid Brands, Inc. and its subsidiaries are leaders in the design, development and distribution of infant and juvenile branded products. Its design-led products are primarily distributed through mass market, baby super stores, specialty, food, drug, independent and e-commerce retailers worldwide.

The Company's current operating subsidiaries consist of: Kids Line, LLC; LaJobi, Inc; Sassy, Inc.; and CoCaLo, Inc. Through these wholly-owned subsidiaries, the Company designs, manufactures (through third parties) and markets branded infant and juvenile products in a number of complementary categories including, among others: infant bedding and related nursery accessories and décor, food preparation and nursery appliances, and diaper bags (Kids Line® and CoCaLo®); nursery furniture and related products (LaJobi®); and developmental toys and feeding, bath and baby care items with features that address the various stages of an infant's early years (Sassy®). In addition to the Company's branded products, the Company also markets certain categories of products under various licenses, including Carter's®, Disney®, Graco® and Serta®. Additional information about the Company is available at

Note: This press release contains certain forward-looking statements. Additional written and oral forward-looking statements may be made by the Company from time to time in Securities and Exchange Commission (SEC) filings and otherwise. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These forward-looking statements include statements that are predictive in nature and depend upon or refer to future events or conditions, and include, but are not limited to, information regarding the status and progress of our operating activities, the plans and objectives of our management and assumptions regarding our future performance, operating expenses, working capital needs, liquidity and capital requirements, business trends and competitiveness. Forward-looking statements include, but are not limited to, words such as "believe", "plan", "anticipate", "estimate", "project", "may", "planned", "potential", "should", "will", "would", "could", "might", "possible", "contemplate", "continue", "expect", "intend", "seek" or the negative of or other variations on these and other similar expressions. In addition, any statements concerning future financial performance, ongoing business strategies or prospects, and possible future actions, are also forward-looking statements. The Company cautions readers that results predicted by forward-looking statements, including, without limitation, those relating to our future business prospects, revenues, working capital, liquidity, capital needs, interest costs and income are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Specific risks and uncertainties include, but are not limited to, those set forth under Item 1A, Risk Factors, of the Company's most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, each as filed with the SEC. Forward-looking statements are also based on economic and market factors and the industry in which we do business, among other things. These statements are not guarantees of future performance. Forward-looking statements speak only as of the date the statements are made. Except as required under the federal securities laws and rules and regulations of the SEC, the Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact Information

    Marc S. Goldfarb
    Senior Vice President & General Counsel

    Jennifer Milan / Daniel Haykin
    General Information