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FirsTime Design Limited (FTDL) reported its second-quarter financial results for the period ending June 30, 2022. The company closed a convertible note with investor Karl Brewer and refinanced its line of credit with Aequum Capital Financial. Key financial metrics showed net sales of $3.66 million, a decline of 31% year-over-year. The EBITDA was negative at $(1.01 million), leading to a net loss of $(1.1 million).
Despite the challenges, FirsTime aims for recovery, expecting new inventory deliveries and a positive shift in shipping costs.
FirsTime Design Limited (FTDL) reported its financial results for Q1 2022, noting a 16% decrease in net sales to $6.14 million from $7.31 million in Q1 2021. The company faced a loss of $710,000 versus a net income of $625,000 in the same period last year. This resulted in an EPS of $(0.61). Despite challenges, FTDL aims to consolidate warehouse expenses and reduce its line of credit. The new ERP system is on track for Q3 2022. Chairman Christopher D. Bering emphasized the importance of creating an efficient operational structure for future growth amidst current market volatility.
FirsTime Design Limited (OTC PINK:FTDL) announced its fourth-quarter financial results for the period ending December 31, 2021. Key highlights include the completion of the company's first clean financial audit for FY 2021 and significant advancements in migrating to a new Oracle ERP system, set for full implementation by Q3 2022. Financial results showed net sales of $4.95 million, a 37.6% decline from the previous year. The company reported a net income loss of $584,000, with EBITDA at ($541,000). Despite challenges, the company is strategically positioning itself for future growth.
FirsTime Design Limited (OTC PINK:FTDL) reported its financial results for the third quarter ending September 30, 2021, revealing a net sales decrease of 5.7% year-over-year to $5,995,000. Despite logistical challenges, the company opened its sixth distribution facility and is migrating to a new Oracle ERP system, expected to enhance operations in early 2022. The first financial audit, set for completion by Q1 2022, aims to improve business credibility. The company also noted a net income of $470,000 with a significant 38.9% drop in EPS compared to the previous year.
Firstime Design Limited (OTC PINK:FTDL) reported its Q2 2021 financial results, showing a net sales increase of 23% year-over-year, reaching $5,305,000. However, earnings per share (EPS) dropped by 90.7% to $0.04. Comparing Q2 2021 to Q2 2019, net sales grew by 77%, while EPS declined by 33%. EBITDA was $187,000 with a margin of 3.5%. The company is facing upward cost pressures, impacting profitability despite strong consumer demand. The Spring 2021 product rollout is noted as the largest in the company's history.
FirsTime Design Limited (OTC PINK:FTDL) announced exceptional financial results for Q1 2021, reporting a 119% increase in net sales to $7.31 million and a 519% growth in earnings per share (EPS) to $0.54. The company increased its credit line by 117% to $13 million and successfully paid off a 5-year term loan ahead of schedule. Additionally, FirsTime opened a new distribution center in the Pacific Northwest to support e-commerce growth. These achievements reflect a strong market position and effective operational strategies.
FirsTime Design Limited (OTC PINK:FTDL) reported impressive financial results for Q4 and FY 2020, with net sales growing by 92.9% in Q4 and 59.5% year-to-date. EBITDA surged by 198% in Q4 and 212% for the year. The company launched new products ahead of the holiday season and received full forgiveness on its Payroll Protection Program loan. Notably, net debt stands at $4,653,800, and net tangible working capital is $9,674,800, positioning the company favorably for continued growth amid a challenging retail environment.
Firstime Design Limited (OTC PINK:FTDL) announced substantial growth in its financial results for Q3 2020, with net sales increasing by 82% to $6.36 million and EPS soaring by 498% to $0.67. Year-to-date figures also reflect a positive trend, with net income rising to $1.34 million and total shareholder's equity reaching $5.66 million. The company expanded its working capital line of credit by 140% and opened a new West Coast distribution facility, enhancing its operational efficiency and response to COVID-19 challenges.
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