<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

  X   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
----- EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2000 OR

      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
----- EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM           TO
                                                          ---------    ---------


                             Commission File Number
                                    000-26667

                          CRAFTMADE INTERNATIONAL, INC.
                          -----------------------------
             (Exact name of registrant as specified in its charter)

          Delaware                                         75-2057054
          --------                                         ----------
(State or other jurisdiction                            (I.R.S. Employer
of incorporation or organization)                      Identification No.)


650 South Royal Lane, Suite 100, Coppell, Texas              75019
-----------------------------------------------              -----
(Address of principal executive offices)                   (Zip Code)


Registrant's telephone number, including area code (972) 393-3800
                                                   --------------


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes     x.      No       .
----------      ----------

5,887,058 shares of Common Stock were outstanding as of February 9, 2001.
<PAGE>   2
                 CRAFTMADE INTERNATIONAL, INC. AND SUBSIDIARIES

                     Index to Quarterly Report on Form 10-Q



Part I.  Financial Information

         Item 1.  Financial Statements (unaudited)

                  Condensed Consolidated Statements of Income
                  for the three and six months ended December
                  31, 2000 and 1999.

                  Condensed Consolidated Balance Sheets as of
                  December 31, 2000 and June 30, 2000.

                  Condensed Consolidated Statement of Changes
                  in Stockholders' Equity for the six months
                  ended December 31, 2000.

                  Condensed Consolidated Statements of Cash
                  Flows for the six months ended December 31,
                  2000 and 1999.

                  Notes to Condensed Consolidated Financial
                  Statements.

         Item 2.  Management's Discussion and Analysis of
                  Financial Condition and Results of
                  Operations.

         Item 3.  Quantitative and Qualitative Disclosures About
                  Market Risk



Part II. Other Information

         Item 1.  Legal Proceedings
         Item 2.  Changes in Securities and Use of Proceeds
         Item 3.  Defaults Upon Senior Securities
         Item 4.  Submission of Matters to a Vote of Security
                  Holders
         Item 5.  Other Information
         Item 6.  Exhibits and Reports on Form 8-K


                                       2
<PAGE>   3
                 CRAFTMADE INTERNATIONAL, INC. AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                   (Unaudited)


<TABLE>
<CAPTION>
                                    FOR THE THREE MONTHS ENDED     FOR THE SIX MONTHS ENDED
                                    --------------------------     ------------------------
                                     Dec. 31,       Dec. 31,       Dec. 31,       Dec. 31,
                                       2000           1999           2000           1999
                                     --------       --------       --------       --------

<S>                                  <C>            <C>            <C>            <C>
Net Sales                            $ 19,183       $ 18,167       $ 43,464       $ 39,821
Cost of goods sold                     12,033         11,858         27,814         25,407
                                     --------       --------       --------       --------

  Gross profit                          7,150          6,309         15,650         14,414
                                     --------       --------       --------       --------

Selling, general
 and administrative
 expenses                               4,739          4,108          9,807          8,873
Interest expense, net                     525            368          1,114            706
Depreciation and amortization             230            219            455            430
                                     --------       --------       --------       --------

    Total expenses                      5,494          4,695         11,376         10,009
                                     --------       --------       --------       --------

Income before income taxes
 and minority interest                  1,656          1,614          4,274          4,405

Provision for income taxes                544            511          1,364          1,396
                                     --------       --------       --------       --------

Income before minority interest         1,112          1,103          2,910          3,009

Minority interest                        (311)          (195)          (685)          (539)
                                     --------       --------       --------       --------

Net income                           $    801       $    908       $  2,225       $  2,470
                                     ========       ========       ========       ========

Basic and diluted
 earnings per
 common share                        $    .14       $    .13       $    .37       $    .35
                                     ========       ========       ========       ========

Cash dividends
 declared per
 common share                        $    .07       $    .02       $    .11       $    .04
                                     ========       ========       ========       ========
</TABLE>


                       SEE ACCOMPANYING NOTES TO CONDENSED
                        CONSOLIDATED FINANCIAL STATEMENTS


                                       3
<PAGE>   4
                 CRAFTMADE INTERNATIONAL, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS

                                     ASSETS

<TABLE>
<CAPTION>
                                               December 31,
                                                  2000         June 30,
                                               (Unaudited)       2000
                                                ---------      --------
                                                    (In thousands)

<S>                                            <C>             <C>
Current assets:
  Cash                                          $  2,175       $  1,171
  Accounts receivable - net of
    allowance of $150,000
    and $236,000, respectively                    11,814         17,610
  Income taxes receivable                            414             --
  Inventory                                       15,114         15,322
  Deferred income taxes                              462            462
  Prepaid expenses and other
    current assets                                 1,220            918
                                                --------       --------

   Total current assets                           31,199         35,483
                                                --------       --------


Property and equipment, at cost:
  Land                                             1,535          1,535
  Building                                         7,784          7,784
  Office furniture and equipment                   2,639          2,297
  Leasehold improvements                             274            257
                                                --------       --------
                                                  12,232         11,873

Less:  accumulated depreciation                   (2,654)        (2,410)
                                                --------       --------

         Total property and equipment, net         9,578          9,463

Goodwill, net of accumulated
  amortization of $1,018,000
  and $808,000, respectively                       4,921          5,131
Other assets:                                         40             24
                                                --------       --------

  Total other assets                              14,539         14,618
                                                --------       --------

                                                $ 45,738       $ 50,101
                                                ========       ========
</TABLE>


                       SEE ACCOMPANYING NOTES TO CONDENSED
                        CONSOLIDATED FINANCIAL STATEMENTS


                                       4
<PAGE>   5
                 CRAFTMADE INTERNATIONAL, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS

                      LIABILITIES AND STOCKHOLDERS' EQUITY

<TABLE>
<CAPTION>
                                         December 31,
                                            2000         June 30,
                                         (Unaudited)       2000
                                          ---------      --------
                                              (In Thousands)
<S>                                      <C>             <C>
Current liabilities:
  Note payable - current                  $    491       $    470
  Revolving lines of credit                 16,000         17,600
  Accounts payable                           2,280          4,179
  Commissions payable                          233            422
  Income taxes payable                          --             10
  Accrued liabilities                        1,618          1,540
                                          --------       --------
     Total current liabilities              20,622         24,221

 Other non-current liabilities:
  Deferred Income taxes                         88             88
  Note payable - long term                   8,338          8,588
  Derivative financial instrument                2             --
  Minority interest                            658            245
                                          --------       --------

  Total liabilities                         29,708         33,142
                                          --------       --------

Stockholders' equity:
 Series A cumulative, convertible,
   callable preferred stock, $1.00
   par value, 2,000,000 shares
   authorized; 32,000 shares issued             32             32
 Common stock, $.01 par value,
   15,000,000 shares authorized,
   9,316,535 shares issued                      93             93
Additional paid-in capital                  12,616         12,453
Unearned deferred compensation                (125)            --
Retained earnings                           24,248         22,654
Accumulated other comprehensive loss            (2)            --
                                          --------       --------
                                            36,862         35,232
 Less:  treasury stock, 3,429,477
   and 3,116,177 common shares at
   cost, respectively, and 32,000
   preferred shares at cost                (20,832)       (18,273)
                                          --------       --------
     Total Stockholders' Equity             16,030         16,959
                                          --------       --------

Commitments and contingencies
                                          $ 45,738       $ 50,101
                                          ========       ========
</TABLE>

                       SEE ACCOMPANYING NOTES TO CONDENSED
                        CONSOLIDATED FINANCIAL STATEMENTS


                                       5
<PAGE>   6
                 CRAFTMADE INTERNATIONAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited)
                   FOR THE SIX MONTHS ENDED DECEMBER 31, 2000
                                 (in thousands)

<TABLE>
<CAPTION>
                                                                                              ACCUMULATED
                           VOTING COMMON STOCK   SERIES A  ADDITIONAL   UNEARNED             OTHER COMPRE-     TREASURY STOCK
                           -------------------   PREFERRED  PAID-IN     DEFERRED    RETAINED   HENSIVE     ------------------------
                            SHARES    AMOUNT      STOCK     CAPITAL   COMPENSATION  EARNINGS     LOSS      SHARES   AMOUNT    TOTAL
                          ----------  --------   ---------  --------  ------------- --------  ------------ ------   -------   -----
<S>                       <C>         <C>        <C>        <C>       <C>           <C>       <C>          <C>     <C>       <C>
Balance as of June 30,
 2000                       9,317       $93        $32     $12,453      $ --        $22,654      $ --      3,148  ($18,273)  $16,959

Comprehensive Income:

Net Income for the six
 months ended
 December 31, 2000                                                                    2,225                                    2,225

Loss on derivative
 financial instrument,
 net of tax of $1                                                                                     (2)                        (2)
                         ---------  --------- -----------  ----------  ----------- ---------  ------------ ------  -------- --------

Total comprehensive
 income                                                                               2,225           (2)                      2,223

Stock Option Grants                                              163         (163)                                                --

Deferred Compensation
 Earned                                                                        38                                                 38

Stock repurchase                                                                                              313   (2,559)  (2,559)

Cash Dividends                                                                        (631)                                    (631)
                         ---------  --------- -----------  ----------  ----------- ---------  ------------ ------  -------- --------
Balance as of
 December 31, 2000           9,317        $93         $32     $12,616       ($125)   $24,248          ($2)  3,461 ($20,832)  $16,030
                         =========  ========= ===========  =========== =========== =========  ============ ======  ========  =======

</TABLE>


                      SEE ACCOMPANYING NOTES TO CONDENSED
                       CONSOLIDATED FINANCIAL STATEMENTS



                                       6
<PAGE>   7
                 CRAFTMADE INTERNATIONAL, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                  FOR THE SIX MONTHS ENDED
                                                  ------------------------
                                                 December 31,   December 31,
                                                     2000           1999
                                                 --------------------------
                                                       (In Thousands)
<S>                                              <C>            <C>
Net cash provided by
  operating activities                             $ 6,655        $ 3,517
                                                   -------        -------


Cash flows from investing activities:
  Net additions to equipment                          (360)          (143)
                                                   -------        -------
Net cash used for investing activities                (360)          (143)
                                                   -------        -------

Cash flows from financing activities:
  Net proceeds from (payments to)
     lines of credit                                (1,600)         2,750
  Principal payments on note payable                  (229)          (386)
  Stock repurchase                                  (2,559)        (5,101)
  Cash dividends                                      (631)          (283)
  Distributions to minority interest members          (272)          (552)
                                                   -------        -------
Net cash used for financing activities              (5,291)        (3,572)
                                                   -------        -------
Net increase in cash                                 1,004           (198)
Cash at beginning of period                          1,171        $ 1,563
                                                   -------        -------
Cash at end of period                              $ 2,175        $ 1,365
                                                   =======        =======
</TABLE>



                       SEE ACCOMPANYING NOTES TO CONDENSED
                        CONSOLIDATED FINANCIAL STATEMENTS



                                       7
<PAGE>   8
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                        OF CRAFTMADE INTERNATIONAL, INC.
                                AND SUBSIDIARIES

                                DECEMBER 31, 2000
                                   (Unaudited)


Note 1 - BASIS OF PREPARATION AND PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been
prepared pursuant to the rules and regulations of the Securities and Exchange
Commission and include all adjustments which are, in the opinion of management,
necessary for a fair presentation. The condensed consolidated financial
statements include the accounts of the Company and its subsidiaries. Certain
information and footnote disclosures normally included in financial statements
prepared in accordance with generally accepted accounting principles have been
condensed or omitted pursuant to such rules and regulations. The Company
believes that the disclosures are adequate to make the information presented not
misleading; however, it is suggested that these financial statements be read in
conjunction with the financial statements and the notes thereto which are
incorporated by reference in the Company's Annual Report on Form 10-K for the
fiscal year ended June 30, 2000. The financial data for the interim periods may
not necessarily be indicative of results to be expected for the year.


Note 2 - STOCK REPURCHASE

During the years ended June 30, 2000 and 1999, the Company's Board of Directors
authorized the Company's management to repurchase up to an aggregate of
2,350,000 shares of the Company's outstanding common stock. At June 30, 2000 and
1999, the Company had repurchased 1,198,500 and 177,500 shares, respectively, at
an aggregate cost of $10,012,000 and $2,548,000, respectively, related to these
plans.

During the first six months of fiscal 2001 the Company repurchased 313,300
shares at an aggregate cost of $2,559,000.





                                       8
<PAGE>   9
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                        OF CRAFTMADE INTERNATIONAL, INC.
                                AND SUBSIDIARIES

                                DECEMBER 31, 2000
                                   (Unaudited)
                                 (In Thousands)


Note 3 - EARNINGS PER SHARE

The following is a reconciliation of the numerator and denominator used in the
basic and diluted EPS calculations:


<TABLE>
<CAPTION>
                  FOR THE THREE MONTHS ENDED     FOR THE SIX MONTHS ENDED
                  --------------------------     ------------------------
                  December 31,   December 31,   December 31,   December 31,
                      2000           1999           2000           1999
                     ------         ------         ------         ------

<S>                  <C>            <C>            <C>            <C>
Basic and
Diluted EPS

Numerator: Net
Income               $  801         $  908         $2,225         $2,470
                     ------         ------         ------         ------

Denominator:
Common Shares
Outstanding           5,903          6,937          5,980          7,094
                     ------         ------         ------         ------

Basic EPS            $  .14         $  .13         $  .37         $  .35
                     ======         ======         ======         ======


Denominator:
Common Shares
Outstanding           5,903          6,937          5,980          7,094
Options                  13              0              6              0
                     ------         ------         ------         ------
Total Shares         $5,916         $6,937         $5,986         $7,094
                     ======         ======         ======         ======

Diluted EPS          $  .14         $  .13         $  .37         $  .35
                     ======         ======         ======         ======
</TABLE>




                                       9
<PAGE>   10
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                        OF CRAFTMADE INTERNATIONAL, INC.
                                AND SUBSIDIARIES

                                DECEMBER 31, 2000
                                   (Unaudited)


Note 4 - DERIVATIVE FINANCIAL INSTRUMENTS

The Company adopted Statement on Financial Accounting Standards No. 133 (FAS
133), Accounting for Derivative Instruments and Hedging Activities, on July 1,
2000. FAS 133 requires that all derivative instruments be recorded on the
balance sheet at fair value. Changes in the fair value of derivatives are
recorded each period in current earnings or other comprehensive income,
depending on whether a derivative is designated as part of a hedge transaction
and, if it is, depending on the type of hedge transaction. For fair-value hedge
transactions in which the Company is hedging changes in an asset's, liability's,
or firm commitment's fair value, changes in the fair value of the derivative
instrument will generally be offset in the income statement by changes in the
hedged item's fair value. For cash-flow hedge transactions in which the Company
is hedging the variability of cash flows related to a variable-rate asset,
liability, or a forecasted transaction, changes in the fair value of the
derivative instrument will be reported in other comprehensive income. The gains
and losses on the derivative instrument that are reported in other comprehensive
income will be reclassified as earnings in the periods in which earnings are
impacted by the variability of the cash flows of the hedged item. The
ineffective portion of all hedges will be recognized in current-period earnings.

During the first quarter of fiscal 2000, the Company entered into an interest
rate swap agreement, with a maturity of December 26, 2003, to manage its
exposure to interest rate movements by effectively converting its long-term
facility debt from fixed to variable rates. The notional amount of the interest
rate swap subject to variable rates as of December 31, 2000 was $3,719,000,
which decreases as payments are made on the long-term note payable. Under this
agreement, the Company has contracted to pay a variable rate equal to LIBOR plus
2.43% (8.99% at December 31, 2000) and receive a fixed rate of 8.125%. In
accordance with the transition provisions of FAS 133, the Company recorded a
net-of-tax cumulative-effect-type adjustment of $2,000 in accumulated other
comprehensive loss on the accompanying condensed consolidated statement of
changes in stockholders' equity to recognize at fair value the interest rate
swap agreement which management designated as a cash-flow hedging instrument. As
the critical terms of the interest rate swap agreement and the interest-bearing
debt are the same the Company has assumed that there is no ineffectiveness in
the hedge relationship.


                                       10
<PAGE>   11
Note 5 - SEGMENT INFORMATION

The Company has two reportable segments, Craftmade and Trade Source
International, Inc. ("TSI"). The Company is organized on a combination of
product type and customer base. The Craftmade segment primarily derives its
revenue from home furnishings including ceiling fans, light kits, bathstrip
lighting and lamps offered primarily through lighting showrooms, certain major
retail chains and catalog houses. The TSI segment derives its revenue from
lighting and fan accessories marketed solely to mass merchandisers.

The accounting policies of the segments are the same as those described in Note
2 - Summary of Significant Accounting Policies to the Company's Annual Report on
Form 10-K for the fiscal year ended June 30, 2000. The Company evaluates the
performance of its segments and allocates resources to them based on their
operating profit and loss and cash flows.

The following table presents information about the reportable segments (in
thousands):


<TABLE>
<CAPTION>
                                       Craftmade        TSI          Total
                                       ---------        ---          -----
<S>                                     <C>           <C>           <C>
For the three months ended
  December 31, 2000:
Net sales from external customers       $11,113       $ 8,070       $19,183
Operating profit                          1,487           694         2,181


For the three months ended
  December 31, 1999:
Net sales from external customers       $11,145       $ 7,022       $18,167
Operating profit                          1,724           258         1,982


For the six months ended
  December 31, 2000:
Net sales from external customers       $23,964       $19,500       $43,464
Operating profit                          3,346         2,042         5,388


For the six months ended
  December 31, 1999:
Net sales from external customers       $24,448       $15,373       $39,821
Operating profit                          4,072         1,039         5,111
</TABLE>



                                       11
<PAGE>   12
ITEM 2   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS.

CAUTIONARY STATEMENT

With the exception of historical information, the matters discussed in this
document contain forward-looking statements. There are certain important factors
which could cause results to differ materially than those anticipated by some of
the forward-looking statements. Some of the important factors which would cause
actual results to differ materially from those in the forward-looking statements
include, among other things, changes from anticipated levels of sales, whether
due to future national or regional economic and competitive conditions, changes
in relationships with customers, TSI's dependence on select mass merchandisers,
customer acceptance of existing and new products, pricing pressures due to
excess capacity, cost increases, changes in tax or interest rates, unfavorable
economic and political developments in Asia, the location of the Company's
primary vendors, declining conditions in the home construction industry,
inability to realize deferred tax assets, and other uncertainties, all of which
are difficult to predict and many of which are beyond the control the Company.


RESULTS OF OPERATIONS

Three Months Ended December 31, 2000 Compared to Three Months Ended December 31,
1999

Net Sales. Net sales increased 5.6% or $1,016,000 to $19,183,000 for the three
month period ended December 31, 2000 from $18,167,000 for the same three month
period last year. Net sales from the Craftmade division decreased slightly to
$11,113,000 for the three months ended December 31, 2000 compared to $11,145,000
for the same three month period last year. Average daily sales increased 1.3% to
$182,200 compared to $179,800 per day in the year ago period. The number of
business days in the quarter ending December 31, 2000 was 61 compared to 62
business days for the same period in the previous year. Net sales of the TSI
division increased 14.9% or $1,048,000 to $8,070,000 for the quarter ended
December 31, 2000 from $7,022,000 for the same period in the previous year. The
increase was primarily attributable to sales generated by Design Trends, LLC,
the Company's 50% owned subsidiary which introduced a new line of portable lamps
in March 2000. The continued roll out of Design Trends generated $2,296,000 in
incremental revenue during the quarter ended December 31, 2000. These sales were
partially offset by a $1,358,000 decline in Trade Source sales attributable to a
decline in purchasing from one of its major customers.



                                       12
<PAGE>   13
Gross Profit. Gross profit of the Company increased to $7,150,000 or 37.3% of
net sales, from $6,309,000 or 34.7% of net sales, for the three months ended
December 31, 2000 compared to the same period of 1999. The gross profit of the
Craftmade division increased to $4,853,000 or 43.7% of sales, from $4,843,000,
or 43.5% of sales, in the year ago period. Gross profit from TSI increased to
$2,297,000, or 28.5% of net sales, for the three months ended December 31, 2000
compared to $1,466,000 or 20.9% of sales for the same period in the previous
year. The increase in the gross margin of TSI was primarily attributable to a
shift in the sales mix from direct import sales to domestic sales that have
higher gross profit margins and higher SG&A expenses.

Selling, General and Administrative Expenses. Total selling, general and
administrative ("SG&A") expenses of the Company increased to $4,739,000 or 24.7%
of net sales for the three months ended December 31, 2000 from $4,108,000 or
22.6% of net sales for the same three month period last year. Total SG&A
expenses of the Craftmade division increased to 29.4% of sales compared to 27.1%
for the same period in the previous year. The increase in SG&A expenses as a
percentage of sales was primarily due to an increase in the fixed portion of
SG&A without a corresponding increase in sales to leverage down the expenses.
Total SG&A expense of the TSI division increased to 18.2% of sales compared to
15.5% of sales for the same period in the previous year. The increase in TSI's
SG&A expense as a percentage of sales was consistent with the shift in the sales
mix from direct import to domestic sales as discussed above.

Interest Expense. Net interest expense of the Company increased $157,000 to
$525,000 for the three months ended December 31, 2000 from $368,000 for the same
three month period last year. This increase was primarily the result of an
increase in the Company's note payable in the third quarter of fiscal 2000. The
proceeds were utilized to repurchase the Company's common stock.

Minority Interest. Minority interest of $311,000 and $195,000 for the three
months ended December 31, 2000 and 1999, respectively, represented the 50%
ownership of Prime/Home Impressions, LLC ("PHI") and Design Trends, LLC by
non-Company owned members. The non-Company owned interests have been accounted
for as a minority interest.

Provision For Income Taxes. The provision for income taxes increased to $544,000
or 40.4% of net income before taxes but after minority interest, for the three
months ended December 31, 2000 from $511,000 or 36.0% for the same period of the
prior year. The increase in the effective rate relates to non-deductible
expenses, primarily amortization of goodwill, as a percentage of pre-tax income.


                                       13
<PAGE>   14
Six Months Ended December 31, 2000 Compared to Six Months Ended December 31,
1999

Net Sales. For the six months ended December 31, 2000, net sales increased 9.2%
or $3,643,000 to $43,464,000 from $39,821,000 for the same period last year. Net
sales from the Craftmade division decreased 2.0% or $484,000 to $23,964,000 for
the six months ended December 31, 2000 from $24,448,000 in the prior year
period. The decline in sales of the Craftmade division was due to a decline in
the number of business days to 122 business days in the six month period ended
December 31, 2000 from 125 business days in the same period last year. Average
daily sales remained flat compared to the year-ago period at $196,000 per day.
Net sales of the TSI division increased 26.9% or $4,127,000 to $19,500,000 for
the six month period ended December 31, 2000 compared to $15,373,000 for the
same period in the previous year. The increase was primarily attributable to
incremental revenue of $2,800,000 generated by the roll out of the Design Trends
program.

Gross Profit. For the six month period ended December 31, 2000, gross profit of
the Company increased to $15,650,000 or 36.0% of sales from $14,414,000 or 36.2%
of sales for the same period in the previous year. The gross profit of the
Craftmade division declined to $10,338,000 or 43.1% of sales from $10,717,000 or
43.8% of sales for the six months ended December 31, 2000 and 1999,
respectively. The decline was primarily due to discounted pricing and
promotional programs that occurred in the initial part of the six month period
ended December 31, 2000. Gross profit of the TSI division increased to
$5,312,000 or 27.2% of sales compared to $3,697,000 or 24.0% of sales for the
same period in the previous year. The increase was primarily attributable to a
shift in the sales mix from direct import sales to domestic sales that carry
higher gross profit margins and higher SG&A expenses.

Selling, General and Administrative Expenses. For the six month period ended
December 31, 2000, total SG&A expenses of the Company increased to $9,807,000 or
22.6% of sales compared to $8,873,000 or 22.3% of sales for the same period last
year. SG&A expenses of the Craftmade division increased to $6,800,000 or 28.4%
of sales compared to $6,453,000 or 26.4% of sales for the same period last year.
The increase in SG&A expenses of Craftmade as a percentage of sales was
primarily due to the decline in sales during the fiscal year 2000 period, which
resulted in the de-leveraging of SG&A expenses compared to the same period in
the previous year. For the six month period ending December 31, 2000, SG&A
expenses of the TSI division decreased as a percentage of sales to 15.4% of
sales or $3,007,000 compared to 15.7% of sales or $2,420,000 for the same period
in the previous year. The increase in SG&A expenses was attributable to
increased advertising and salary expense to support the introduction of new
products.



                                       14
<PAGE>   15

Interest Expense. For the six-month period ended December 31, 2000, net interest
expense increased to $1,114,000 compared to $706,000 for the same period in the
previous year. This increase was primarily the result of an increase in the
Company's note payable in the third quarter of fiscal 2000. The proceeds were
utilized to repurchase the Company's common stock.

Minority Interest. Minority interest of $685,000 and $539,000 for the six months
ended December 31, 2000 and 1999, respectively, represented the 50% ownership of
PHI and Design Trends, LLC by non-Company owned members. The non-Company owned
interests have been accounted for as a minority interest.

Provision for Income Taxes. The provision for income taxes decreased to
$1,364,000 or 38.0% of net income before taxes but after minority interest, for
the six months ended December 31, 2000 from $1,396,000 or 36.1% for the same
period of the prior year. The increase in the effective rate relates to
non-deductible expenses, primarily amortization of goodwill, as a percentage of
pre-tax income.

LIQUIDITY AND CAPITAL RESOURCES

The Company's cash increased $1,004,000 to $2,175,000 at December 31, 2000 from
$1,171,000 at June 30, 2000. The Company's operating activities provided cash of
$6,655,000, primarily attributable to the Company's net income from operations
and collections on customer accounts.

The $360,000 of cash used for investing activities related to the purchase of
general warehouse, office and computer equipment.

The $5,291,000 of cash used for financing activities was primarily the result of
(i) the repurchase of 313,300 shares of the Company's common stock in connection
with the Company's stock repurchase plans, at an aggregate cost of $2,559,000,
(ii) distributions to PHI's minority interest members of $272,000, (iii)
principal payments of $229,000 on the Company's note payable,(iv) cash dividends
of $631,000, and (v) principal payments of $1,600,000 on the Company's lines of
credit.

At December 31, 2000, subject to continued compliance with certain covenants and
restrictions, the Company had $17,500,000 available on its line of credit of
which $14,000,000 had been utilized. In addition, PHI had $3,000,000 available
on its line of credit, of which $2,000,000 had been utilized. The Company's
management believes that its current lines of credit, combined with cash flows
from operations, are adequate to fund the Company's current operating needs,
make annual payments approximating $1,200,000 under the note payable, fund the
Design Trends new product roll-out of approximately $3,500,000, fund anticipated
capital expenditures, as well as fund its projected growth over the next twelve
months.



                                       15
<PAGE>   16
At December 31, 2000, $8,829,000 remained outstanding under the twelve year note
payable for the Company's 378,000 square foot operating facility. The Company's
management believes that this facility will be sufficient for its purposes for
the foreseeable future.

During the first quarter of fiscal 2000, the Company entered into a letter
agreement with Chase Bank of Texas, N.A., pursuant to which the Company
conducted a fixed-to-floating interest rate swap. See Note 4 - Derivative
Financial Instruments in the Notes to Condensed Consolidated Financial
Statements and Item 3 - Quantitative and Qualitative Disclosures about Market
Risk. The Company does not believe that this transaction will have a material
effect on its financial condition.

ITEM 3   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

The information set forth below constitutes a "forward looking statement." See
"Management's Discussion and Analysis of Financial Condition and Results of
Operations - Cautionary Statement."

As a result of the terms of the Company's note payable on its operating
facility, the Company is subject to market risk associated with adverse changes
in interest rates. In an effort to reduce this market risk, the Company entered
into an interest rate swap agreement (the "Swap Agreement") with Chase Bank of
Texas, National Association ("Chase") during the first quarter of fiscal 2000.
The Swap Agreement is held by the Company for non-trading purposes and is
designated as a cash-flow hedging instrument.

The notional principal amount of the Swap Agreement was $3,719,000 at December
31, 2000. During the term of the Swap Agreement, the Company receives a fixed
rate of interest (8.125%) from Chase on such Notional Amount in consideration of
its obligation to pay a floating rate of interest on such Notional Amount. The
floating London Interbank Offered Rate ("LIBOR") plus 2.43%. At December 31,
2000, LIBOR was equal to 6.56%. The Swap Agreement matures on December 26, 2003.

Although the Company entered into the Swap Agreement to reduce its exposure to
changes in interest rates, a sharp rise in interest rates could materially
adversely affect the financial condition and results of operations of the
Company. Under the Swap Agreement, for each one percent (1%) incremental
increase in LIBOR, the Company's annualized interest expense would increase by
approximately $37,190. Consequently, an increase in LIBOR of five percent (5%)
would result in an estimated annualized increase of interest expense for the
Company of approximately $185,950. See Note 4 - Derivative Financial Instrument
to the Notes to Condensed Consolidated Financial Statements.


                                       16
<PAGE>   17
                                     PART II

                                OTHER INFORMATION


Item 1.           Legal Proceedings

                  not applicable

Item 2.           Changes in Securities and Use of Proceeds

                  not applicable

Item 3.           Defaults Upon Senior Securities

                  not applicable

Item 4.           Submission of Matters to a Vote of Stockholders


         At the annual meeting of the Company's stockholders on October 27,
2000, the stockholders of the Company (i) elected James R. Ridings, Clifford
Crimmings, Kathleen B. Oher, A. Paul Knuckley, Jerry E. Kimmel, Neall W.
Humphrey, John DeBlois and Lary C. Snodgrass as directors of the company; (ii)
approved the Craftmade International, Inc. 1999 Stock Option Plan; (iii)
approved the Craftmade International, Inc. 2000 Non-Employee Director Stock
Plan; and (iv) ratified the appointment of PricewaterhouseCoopers LLP as
independent auditors for 2001.

         The vote in the election of directors was as follows:

<TABLE>
<CAPTION>

Votes                          For:       Withheld:
                               -------    ----------
<S>                            <C>         <C>
James R. Ridings              5,552,397       15,691
Clifford Crimmings            5,553,797       14,291
Kathleen B. Oher              5,552,547       15,541
A. Paul Knuckley              5,558,447        9,641
Jerry E. Kimmel               5,557,097       10,991
Neall W. Humphrey             5,559,397        8,691
John DeBlois                  5,559,347        8,741
Lary C. Snodgrass             5,556,847       11,241
</TABLE>

         The vote in the approval of the Craftmade International, Inc. 1999
Stock Option Plan was 3,261,475 for, 150,406 against, and 2,156,207
abstentions and broker non-votes.

         The vote in the approval of the Craftmade International, Inc. 2000
Non-Employee Director Stock Plan was 3,211,156 for, 200,277 against, and
2,156,655 abstentions and broker non-votes.

         The vote in the ratification of PricewaterhouseCoopers LLP as
independent auditors for the fiscal year ending June 30, 2001 was 5,559,938 for,
4,600 against, and 3,550 abstentions and broker non-votes.


                                       17
<PAGE>   18
Item 5.           Other Information

                  not applicable

Item 6.           Exhibits and Reports on Form 8-K

                  a).      Exhibits

<TABLE>
                  <S>      <C>
                  3.1      Certificate of Incorporation of the Company, filed as
                           Exhibit 3(a)(2) to the Company's Post Effective
                           Amendment No. 1 to Form S-18 (File No. 33-33594-FW)
                           and incorporated by reference therein.

                  3.2      Certificate of Amendment of Certificate of
                           Incorporation of the Company, dated March 24, 1992
                           and filed as Exhibit 4.2 to the Company's Form S-8
                           (File No. 333-44337) and incorporated by reference
                           therein.

                  3.3      Amended and Restated Bylaws of the Company, filed as
                           Exhibit 3(b)(2) to the Company's Post Effective
                           Amendment No. 1 to Form S-18 (File No. 33-33594-FW)
                           and incorporated by reference therein.

                  4.1      Specimen Common Stock Certificate, filed as Exhibit
                           4.4 to the Company's Registration Statement on Form
                           S-3 (File No. 333-70823) and incorporated by
                           reference therein.

                  4.2      Rights Agreement, dated as of June 23, 1999, between
                           Craftmade International, Inc. and Harris Trust and
                           Savings Bank, as Rights Agent, previously filed as an
                           exhibit to Form 8-K dated July 9, 1999 (File No.
                           000-26667) and incorporated by reference herein.

                  10.1     Earnest Money contract and Design/build Agreement
                           dated May 8, 1995, between MEPC Quorum Properties II,
                           Inc. and Craftmade International, Inc. (including
                           exhibits), previously filed as an exhibit in Form
                           10-Q for the quarter ended December 31, 1995, and
                           herein incorporated by reference.

                  10.2     Assignment of Rents and Leases dated December 21,
                           1995, between Craftmade International, Inc. and
                           Allianz Life Insurance Company of North America
                           (including exhibits), previously filed as an exhibit
                           in Form 10-Q for the quarter ended December 31, 1995,
                           and herein incorporated by reference.
</TABLE>



                                       18
<PAGE>   19
<TABLE>
                  <S>      <C>
                  10.3     Deed of Trust, Mortgage and Security Agreement made
                           by Craftmade International, Inc., dated December 21,
                           1995, to Patrick M. Arnold, as trustee for the
                           benefit of Allianz Life Insurance Company of North
                           America (including exhibits), previously filed as an
                           exhibit in Form 10-Q for the quarter ended December
                           31, 1995, and herein incorporated by reference.

                  10.4     Second Amended and Restated Credit Agreement dated
                           November 14, 1995, among Craftmade International,
                           Inc., Nations Bank of Texas, N.A., as Agent and the
                           Lenders defined therein (including exhibits),
                           previously filed as an exhibit in Form 10-Q for the
                           quarter ended December 31, 1995, and herein
                           incorporated by reference.

                  10.5     Lease Agreement dated November 30, 1995, between
                           Craftmade International, Inc. and TSI Prime, Inc.,
                           previously filed as an exhibit in Form 10-Q for the
                           quarter ended December 31, 1995, and herein
                           incorporated by reference.

                  10.6     Revolving credit facility with Texas Commerce Bank,
                           previously filed as an exhibit in Form 10-K for the
                           year ended June 30, 1996, and herein incorporated by
                           reference.

                  10.7     Agreement and Plan of Merger, dated as of July 1,
                           1998, by and among Craftmade International, Inc.,
                           Trade Source International, Inc., a Delaware
                           corporation, Neall and Leslie Humphrey, John DeBlois,
                           the Wiley Family Trust, James Bezzerides, the Bezzco
                           Inc. Employee Retirement Trust and Trade Source
                           International, Inc., a California corporation, filed
                           as Exhibit 2.1 to the Company's Current Report on
                           Form 8-K filed July 15, 1998 (File No. 33-33594-FW)
                           and herein incorporated by reference.

                  10.8     Voting Agreement, dated July 1, 1998, by and among
                           James R. Ridings, Neall Humphrey and John DeBlois,
                           filed as Exhibit 2.1 to the Company's Current Report
                           on Form 8-K filed July 15, 1998 (File No.
                           33-33594-FW) and herein incorporated by reference.

                  10.9     Third Amendment to Credit Agreement, dated July 1,
                           1998, by and among Craftmade International, Inc., a
                           Delaware corporation, Trade Source International,
                           Inc., a Delaware
</TABLE>


                                       19
<PAGE>   20
<TABLE>
                  <S>      <C>
                           corporation, Chase Bank of Texas, National
                           Association (formerly named Texas Commerce Bank,
                           National Association) and Frost National Bank
                           (formerly named Overton Bank and Trust), filed as
                           Exhibit 2.1 to the Company's Current Report on Form
                           8-K filed July 15, 1998 (File No. 33-33594-FW) and
                           herein incorporated by reference.

                  10.10    Consent to Merger by Chase Bank of Texas, National
                           Association and Frost National Bank, filed as Exhibit
                           2.1 to the Company's Current Report on Form 8-K filed
                           July 15, 1998 (File No. 33-33594-FW) and herein
                           incorporated by reference.

                  10.11    Employment Agreement, dated July 1, 1998, by and
                           among Craftmade International, Inc., Trade Source
                           International, Inc., a Delaware corporation, and
                           Neall Humphrey, filed as Exhibit 2.1 to the Company's
                           Current Report on Form 8-K filed July 15, 1998 (File
                           No. 33-33594-FW) and herein incorporated by
                           reference.

                  10.12    Employment Agreement, dated July 1, 1998, by and
                           among Craftmade International, Inc., Trade Source
                           International, Inc., a Delaware corporation, and
                           Leslie Humphrey, filed as Exhibit 2.1 to the
                           Company's Current Report on Form 8-K filed July 15,
                           1998 (File No. 33-33594-FW) and herein incorporated
                           by reference.

                  10.13    Employment Agreement, dated July 1, 1998, by and
                           among Craftmade International, Inc., Trade Source
                           International, Inc., a Delaware corporation, and John
                           DeBlois, filed as Exhibit 2.1 to the Company's
                           Current Report on Form 8-K filed July 15, 1998 (File
                           No. 33-33594-FW) and herein incorporated by
                           reference.

                  10.14    Registration Rights Agreement, dated July 1, 1998, by
                           and among Craftmade International, Inc., Neall and
                           Leslie Humphrey and John DeBlois, filed as Exhibit
                           2.1 to the Company's Current Report on Form 8-K filed
                           July 15, 1998 (File No. 33-33594-FW) and herein
                           incorporated by reference.

                  10.15    ISDA Master Agreement and Schedule, dated June 17,
                           1999, by and among Chase Bank of Texas, National
                           Association, Craftmade International, Inc., Durocraft
                           International,
</TABLE>


                                       20
<PAGE>   21
<TABLE>
                  <S>      <C>
                           Inc. and Trade Source International, Inc., filed as
                           Exhibit 10.15 to the Company's Quarterly Report on
                           Form 10Q filed November 12, 1999 (File No. 000-26667)
                           and herein incorporated by reference.

                  10.16    Confirmation under ISDA Master Agreement, dated July
                           23, 1999, from Chase Bank of Texas, National
                           Association to Craftmade International, Inc., filed
                           as Exhibit 10.165 to the Company's Quarterly Report
                           on Form 10Q filed November 12, 1999 (File No.
                           000-26667) and herein incorporated by reference.

                  10.17    Fourth Amendment to Credit Agreement, dated April 2,
                           1999, by and among Craftmade International, Inc., a
                           Delaware corporation, Durocraft International, Inc.,
                           a Texas Corporation, Trade Source International,
                           Inc., a Delaware Corporation, C/D/R Incorporated, a
                           Delaware corporation, Chase Bank of Texas, National
                           Association and Frost National Bank, filed as Exhibit
                           10.17 to the Company's Quarterly Report on Form 10-Q
                           filed May 15, 2000 (File No. 000-26667) and herein
                           incorporated by reference.

                  10.18    Letter Agreement Concerning Fifth Amendment to Credit
                           Agreement, dated August 11, 1999, from Chase Bank of
                           Texas, N.A. and Frost National Bank to Craftmade
                           International, Inc., Durocraft International, Inc.,
                           Trade Source International, Inc., and C/D/R
                           Incorporated, filed as Exhibit 10.18 to the Company's
                           Quarterly Report on Form 10Q filed May 15, 2000 (File
                           No. 000-26667) and herein incorporated by reference.

                  10.19    Sixth Amendment to Credit Agreement, dated November
                           12, 1999, by and among Craftmade International, Inc.,
                           a Delaware corporation. Durocraft International,
                           Inc., a Texas Corporation, Trade Source
                           International, Inc., a Delaware Corporation, C/D/R
                           Incorporated, a Delaware corporation, Chase Bank of
                           Texas, National Association and Frost National Bank,
                           filed as Exhibit 10.19 to the Company's Quarterly
                           Report on Form 10Q filed May 15, 2000 (File No.
                           000-26667) and herein incorporated by reference.

                  10.20    Employment Agreement dated October 25, 1999, between
                           Kathy Oher and Craftmade International, Inc., filed
                           as Exhibit 10.20 to the Company's Annual Report on
                           Form 10-K
</TABLE>


                                       21
<PAGE>   22
<TABLE>
                  <S>      <C>
                           filed September 26, 2000 (File No. 000-26667) and
                           herein incorporated by reference.

                  10.21    Seventh Amendment to Credit Agreement dated May 12,
                           2000, by and among Craftmade International, Inc., a
                           Delaware corporation, C/D/R Incorporated, a Delaware
                           corporation, Chase Bank of Texas, National
                           Association and Frost National Bank, filed as Exhibit
                           10.21 to the Company's Annual Report on Form 10-K
                           filed September 26, 2000 (File No. 000-26667) and
                           herein incorporated by reference.

                  10.22    Craftmade International, Inc. 1999 Stock Option Plan,
                           filed as Exhibit A to the Company's Proxy Statement
                           on Schedule 14A filed October 4, 2000 (File No.
                           000-26667) and herein incorporated by reference.

                  10.23    Craftmade International, Inc. 2000 Non-Employee
                           Director Stock Plan, filed as Exhibit B to the
                           Company's Proxy Statement on Schedule 14A filed
                           October 4, 2000 (File No. 000-2667) and herein
                           incorporated by reference.
</TABLE>

         b).      Reports on Form 8-K

                           None.






                                       22
<PAGE>   23
                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                    CRAFTMADE INTERNATIONAL, INC.
                                             (Registrant)



Date February 14, 2001               /s/ James R. Ridings
                                    ------------------------------
                                           JAMES R. RIDINGS
                                          President and Chief
                                           Executive Officer


Date February 14, 2001              /s/  Kathleen B. Oher
                                    ------------------------------
                                           KATHLEEN B. OHER
                                       Chief Financial Officer




                                       23
<PAGE>   24
                                Index to Exhibits

<TABLE>
<CAPTION>
Exhibit
Number                              Description
------                              -----------
<S>               <C>
3.1               Certificate of Incorporation of the Company, filed as Exhibit
                  3(a)(2) to the Company's Post Effective Amendment No. 1 to
                  Form S-18 (File No. 33-33594-FW) and incorporated by reference
                  therein.

3.2               Certificate of Amendment of Certificate of Incorporation of
                  the Company, dated March 24, 1992 and filed as Exhibit 4.2 to
                  the Company's Form S-8 (File No. 333-44337) and incorporated
                  by reference therein.

3.3               Amended and Restated Bylaws of the Company, filed as Exhibit
                  3(b)(2) to the Company's Post Effective Amendment No. 1 to
                  Form S-18 (File No. 33-33594-FW) and incorporated by reference
                  therein.

4.1               Specimen Common Stock Certificate, filed as Exhibit 4.4 to the
                  Company's Registration Statement on Form S-3 (File No.
                  333-70823) and incorporated by reference therein.

4.2               Rights Agreement, dated as of June 23, 1999, between Craftmade
                  International, Inc. and Harris Trust and Savings Bank, as
                  Rights Agent, previously filed as an exhibit to Form 8-K dated
                  July 9, 1999 (File No. 000-26667) and incorporated by
                  reference herein.

10.1              Earnest Money contract and Design/Build Agreement dated May 8,
                  1995, between MEPC Quorum Properties II, Inc. and Craftmade
                  International, Inc. (including exhibits), previously filed as
                  an exhibit in Form 10-Q for the quarter ended December 31,
                  1995, and herein incorporated by reference.

10.2              Assignment of Rents and Leases dated December 21, 1995,
                  between Craftmade International, Inc. and Allianz Life
                  Insurance Company of North America (including exhibits),
                  previously filed as an exhibit in Form 10-Q for the quarter
                  ended December 31, 1995, and herein incorporated by reference.

10.3              Deed of Trust, Mortgage and Security Agreement made by
                  Craftmade International, Inc., dated December 21, 1995, to
                  Patrick M. Arnold, as trustee for the benefit of Allianz Life
                  Insurance Company of North America
</TABLE>


                                       24
<PAGE>   25
<TABLE>
<S>               <C>
                  (including exhibits), previously filed as an exhibit in Form
                  10-Q for the quarter ended December 31, 1995, and herein
                  incorporated by reference.

10.4              Second Amended and Restated Credit Agreement dated November
                  14, 1995, among Craftmade International, Inc., Nations Bank of
                  Texas, N.A., as Agent and the Lenders defined therein
                  (including exhibits), previously filed as an exhibit in Form
                  10-Q for the quarter ended December 31, 1995, and herein
                  incorporated by reference.

10.5              Lease Agreement dated November 30, 1995, between Craftmade
                  International, Inc. and TSI Prime, Inc., previously filed as
                  an exhibit in Form 10-Q for the quarter ended December 31,
                  1995, and herein incorporated by reference.

10.6              Revolving credit facility with Texas Commerce Bank, previously
                  filed as an exhibit in Form 10-K for the year ended June 30,
                  1996, and herein incorporated by reference.

10.7              Agreement and Plan of Merger, dated as of July 1, 1998, by and
                  among Craftmade International, Inc., Trade Source
                  International, Inc., a Delaware corporation, Neall and Leslie
                  Humphrey, John DeBlois, the Wiley Family Trust, James
                  Bezzerides, the Bezzco Inc. Employee Retirement Trust and
                  Trade Source International, Inc., a California corporation,
                  filed as Exhibit 2.1 to the Company's Current Report on Form
                  8-K filed July 15, 1998 (File No. 33-33594-FW) and herein
                  incorporated by reference.

10.8              Voting Agreement, dated July 1, 1998, by and among James R.
                  Ridings, Neall Humphrey and John DeBlois, filed as Exhibit 2.1
                  to the Company's Current Report on Form 8-K filed July 15,
                  1998 (File No. 33-33594-FW) and herein incorporated by
                  reference.

10.9              Third Amendment to Credit Agreement, dated July 1, 1998, by
                  and among Craftmade International, Inc., a Delaware
                  corporation, Trade Source International, Inc., a Delaware
                  corporation, Chase Bank of Texas, National Association
                  (formerly named Texas Commerce Bank, National Association) and
                  Frost National Bank (formerly named Overton Bank and Trust),
                  filed as Exhibit 2.1 to the Company's Current Report on Form
                  8-K filed July 15, 1998 (File No. 33-33594-FW) and herein
                  incorporated by reference.
</TABLE>



                                       25
<PAGE>   26
<TABLE>
<S>               <C>
10.10             Consent to Merger by Chase Bank of Texas, National Association
                  and Frost National Bank, filed as Exhibit 2.1 to the Company's
                  Current Report on Form 8-K filed July 15, 1998 (File No.
                  33-33594-FW) and herein incorporated by reference.

10.11             Employment Agreement, dated July 1, 1998, by and among
                  Craftmade International, Inc., Trade Source International,
                  Inc., a Delaware corporation, and Neall Humphrey, filed as
                  Exhibit 2.1 to the Company's Current Report on Form 8-K filed
                  July 15, 1998 (File No. 33-33594-FW) and herein incorporated
                  by reference.

10.12             Employment Agreement, dated July 1, 1998, by and among
                  Craftmade International, Inc., Trade Source International,
                  Inc., a Delaware corporation, and Leslie Humphrey, filed as
                  Exhibit 2.1 to the Company's Current Report on Form 8-K filed
                  July 15, 1998 (File No. 33-33594-FW) and herein incorporated
                  by reference.

10.13             Employment Agreement, dated July 1, 1998, by and among
                  Craftmade International, Inc., Trade Source International,
                  Inc., a Delaware corporation, and John DeBlois, filed as
                  Exhibit 2.1 to the Company's Current Report on Form 8-K filed
                  July 15, 1998 (File No. 33-33594-FW) and herein incorporated
                  by reference.

10.14             Registration Rights Agreement, dated July 1, 1998, by and
                  among Craftmade International, Inc., Neall and Leslie Humphrey
                  and John DeBlois, filed as Exhibit 2.1 to the Company's
                  Current Report on Form 8-K filed July 15, 1998 (File No.
                  33-33594-FW) and herein incorporated by reference.

10.15             ISDA Master Agreement and Schedule, dated June 17, 1999, by
                  and among Chase Bank of Texas, National Association, Craftmade
                  International, Inc., Durocraft International, Inc. and Trade
                  Source International, Inc., filed as Exhibit 10.15 to the
                  Company's Quarterly Report on Form 10Q filed November 12, 1999
                  (File No. 000-26667) and herein incorporated by reference.

10.16             Confirmation under ISDA Master Agreement, dated July 23, 1999,
                  from Chase Bank of Texas, National Association to Craftmade
                  International, Inc., filed as Exhibit 10.165 to the Company's
                  Quarterly Report on Form 10Q filed November 12, 1999 (File No.
                  000-26667) and herein incorporated by reference.
</TABLE>



                                       26
<PAGE>   27
<TABLE>
<S>               <C>
10.17             Fourth Amendment to Credit Agreement, dated April 2, 1999, by
                  and among Craftmade International, Inc., a Delaware
                  corporation, C/D/R Inc., a Delaware corporation, Durocraft
                  International, Inc. a Texas corporation, Trade Source
                  International, a Delaware corporation, Chase Bank of Texas,
                  National Association and Frost National Bank, filed as Exhibit
                  10.17 to the Company's Quarterly Report on Form 10-Q filed May
                  15, 2000 (File No. 000-26667) and herein incorporated by
                  reference.

10.18             Letter Agreement Concerning Fifth Amendment to Credit
                  Agreement, dated August 11, 1999, from Chase Bank of Texas,
                  N.A. and Frost National Bank to Craftmade International, Inc.,
                  Durocraft International Inc., Trade Source International,
                  Inc., and C/D/R Incorporated, filed as Exhibit 10.18 to the
                  Company's Quarterly Report on Form 10-Q filed May 15, 2000
                  (File No. 000-26667) and herein incorporated by reference.

10.19             Sixth Amendment to Credit Agreement, dated November 12, 1999,
                  by and among Craftmade International, Inc., a Delaware
                  corporation, Durocraft International, Inc., a Texas
                  corporation, Trade Source International, Inc., a Delaware
                  corporation, C/D/R Incorporated, a Delaware corporation, Chase
                  Bank of Texas, National Association and Frost National Bank,
                  filed as Exhibit 10.19 to the Company's Quarterly Report on
                  Form 10-Q filed May 15, 2000 (File No. 000-26667) and herein
                  incorporated by reference.

10.20             Employment Agreement dated October 25, 1999, between Kathy
                  Oher and Craftmade International, Inc., filed as Exhibit 10.20
                  to the Company's Annual Report on Form 10-K filed September
                  26, 2000 (File No. 000-26667) and herein incorporated by
                  reference.

10.21             Seventh Amendment to Credit Agreement dated May 12, 2000, by
                  and among Craftmade International, Inc., a Delaware
                  corporation, Durocraft International, Inc., a Texas
                  corporation, Trade Source International, Inc., a Delaware
                  corporation, C/D/R Incorporated, a Delaware corporation, Chase
                  Bank of Texas, National Association and Frost National Bank,
                  filed as Exhibit 10.21 to the Company's Annual Report on Form
                  10-K filed September 26, 2000 (File No. 000-26667) and herein
                  incorporated by reference.
</TABLE>


                                       27
<PAGE>   28
<TABLE>
<S>               <C>
10.22             Craftmade International Inc. 1999 Stock Option Plan, filed as
                  Exhibit A to the Company's Proxy Statement on Schedule 14A
                  filed October 4, 2000 (File No. 000-26667) and herein
                  incorporated by reference. .

10.23             Craftmade International Inc. 2000 Non-Employee Director Stock
                  Plan, filed as Exhibit B to the Company's Proxy Statement on
                  Schedule 14A filed October 4, 2000 (File No. 000-26667) and
                  herein incorporated by reference.
</TABLE>



                                       28