Tandy Leather Factory Reports Third Quarter 2024 Results
Tandy Leather Factory (Nasdaq: TLF) reported Q3 2024 financial results showing declining performance. Revenue decreased 1.1% to $17.4 million, with the company recording a net loss of $0.1 million compared to net income of $0.6 million in 2023. Gross margins fell to 57.8% from 62.4%, while operating expenses increased 2.3% to $10.3 million. The company reported a basic and diluted loss of ($0.02) per share versus $0.08 income last year. Cash position improved to $10.1 million from $8.6 million year-over-year, with inventory at $38.1 million.
Tandy Leather Factory (Nasdaq: TLF) ha riportato i risultati finanziari del terzo trimestre 2024, rivelando una performance in calo. I ricavi sono diminuiti dell'1,1% a 17,4 milioni di dollari, con un perdita netta di 0,1 milioni di dollari rispetto a un utile netto di 0,6 milioni di dollari nel 2023. I margini lordi sono scesi al 57,8% dal 62,4%, mentre le spese operative sono aumentate del 2,3% a 10,3 milioni di dollari. L'azienda ha riportato una perdita di base e diluita di ($0,02) per azione rispetto a un utile di $0,08 dell'anno scorso. La posizione di liquidità è migliorata a 10,1 milioni di dollari rispetto a 8,6 milioni di dollari nell'anno precedente, con un inventario di 38,1 milioni di dollari.
Tandy Leather Factory (Nasdaq: TLF) informó los resultados financieros del tercer trimestre de 2024, mostrando un rendimiento a la baja. Los ingresos disminuyeron un 1,1% a 17,4 millones de dólares, con la compañía registrando una pérdida neta de 0,1 millones de dólares en comparación con una ganancia neta de 0,6 millones de dólares en 2023. Los márgenes brutos cayeron al 57,8% desde el 62,4%, mientras que los gastos operativos aumentaron un 2,3% a 10,3 millones de dólares. La empresa reportó una pérdida básica y diluida de ($0,02) por acción frente a una ganancia de $0,08 el año anterior. La posición de efectivo mejoró a 10,1 millones de dólares desde 8,6 millones de dólares en el año anterior, con un inventario de 38,1 millones de dólares.
Tandy Leather Factory (Nasdaq: TLF)는 2024년 3분기 재무 결과를 발표하며 성과가 하락하고 있음을 보여주었습니다. 수익은 1.1% 감소하여 1,740만 달러에 이르며, 회사는 2023년 60만 달러의 순이익에 비해 10만 달러의 순손실을 기록했습니다. 총 이익률은 62.4%에서 57.8%로 떨어졌고, 운영비는 2.3% 증가하여 1,030만 달러에 이르렀습니다. 회사는 지난해 주당 0.08달러의 수익에 비해 주당 ($0.02)의 기본 및 희석 손실을 보고했습니다. 현금 상태는 지난해 860만 달러에서 1,010만 달러로 개선되었고, 재고는 3,810만 달러에 달했습니다.
Tandy Leather Factory (Nasdaq: TLF) a publié les résultats financiers du troisième trimestre 2024, montrant une performance en déclin. Le chiffre d'affaires a diminué de 1,1 % pour atteindre 17,4 millions de dollars, l'entreprise enregistrant une perte nette de 0,1 million de dollars par rapport à un bénéfice net de 0,6 million de dollars en 2023. Les marges brutes sont passées de 62,4 % à 57,8 %, tandis que les charges d'exploitation ont augmenté de 2,3 % pour atteindre 10,3 millions de dollars. L'entreprise a déclaré une perte de base et diluée de ($0,02) par action contre un bénéfice de $0,08 l'année précédente. La position de liquidité s'est améliorée, passant de 8,6 millions de dollars à 10,1 millions de dollars d'une année sur l'autre, avec un stock de 38,1 millions de dollars.
Tandy Leather Factory (Nasdaq: TLF) hat die finanziellen Ergebnisse des dritten Quartals 2024 veröffentlicht, die eine rückläufige Leistung zeigen. Der Umsatz ging um 1,1 % auf 17,4 Millionen Dollar zurück, während das Unternehmen einen Nettoverlust von 0,1 Millionen Dollar im Vergleich zu einem Nettoergebnis von 0,6 Millionen Dollar im Jahr 2023 verzeichnete. Die Bruttomargen fielen von 62,4 % auf 57,8 %, während die Betriebskosten um 2,3 % auf 10,3 Millionen Dollar stiegen. Das Unternehmen berichtete über einen Grund- und verwässerten Verlust von ($0,02) pro Aktie im Vergleich zu einem Gewinn von $0,08 im letzten Jahr. Die Liquiditätsposition verbesserte sich von 8,6 Millionen Dollar auf 10,1 Millionen Dollar im Vergleich zum Vorjahr, während das Inventar 38,1 Millionen Dollar betrug.
- Cash position improved to $10.1 million from $8.6 million year-over-year
- Strong September sale performance noted by management
- Revenue declined 1.1% to $17.4 million
- Net loss of $0.1 million compared to $0.6 million profit in 2023
- Gross margins decreased to 57.8% from 62.4%
- Operating expenses increased 2.3% to $10.3 million
- Customer traffic declined and reduced discretionary spending
- EPS declined to ($0.02) from $0.08 in prior year
Insights
The Q3 2024 results reveal concerning trends for Tandy Leather Factory. The company reported a
The financial position shows mixed signals. While cash holdings improved to
FORT WORTH, Texas, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq: TLF) today announced the Company’s financial results for the third fiscal quarter of 2024.
Highlights from Third Quarter 2024:
- Revenues were
$17.4 million , down1.1% from 2023 - Operating loss of
$0.3 million - Net loss of
$0.1 million , down from net income of$0.6 million in 2023 - Gross margins of
57.8% , down from62.4% in 2023 - Operating expenses
$10.3 million , up2.3% from 2023 - Adjusted EBITDA* of
$0.2 million - Ended quarter with
$10.1 million of cash and cash equivalents
Tandy Leather Factory’s third quarter sales were
Janet Carr, Chief Executive Officer of the Company, said, “Sales in the third quarter were consistent with the trend we saw in Q2, down about
Investors are encouraged to send their questions to the Company’s investor relations hotline at investorrelations@tandyleather.com.
* Adjusted EBITDA is a non-GAAP financial measure that the Company believes helps investors to compare its operating performance to that of other companies. The following is a reconciliation of the Company’s net income to Adjusted EBITDA (in millions):
| Three months ended September 30, 2024 | ||||
| Net income | ( | ) | ||
| Add back: | ||||
| Depreciation and amortization | 0.3 | |||
| Interest income | (0.1 | ) | ||
| Income tax provision | (0.1 | ) | ||
| Stock-based compensation | 0.2 | |||
| Adjusted EBITDA | ||||
Tandy Leather Factory, Inc., (http://www.tandyleather.com), headquartered in Fort Worth, Texas, is a specialty retailer of a broad product line, including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products through its 99 North American stores (including two temporarily closed for relocation as of September 30, 2024) located in 40 US states and six Canadian provinces, and one store located in Spain. Its common stock trades on the Nasdaq Capital Market under the symbol “TLF”. To be included on Tandy Leather Factory's email distribution list, go to: http://www.b2i.us/irpass.asp?BzID=1625&to=ea&s=0.
Contact: Janet Carr, Tandy Leather Factory, Inc. (817) 872-3200 or janet.carr@tandyleather.com
This news release may contain statements regarding future events, occurrences, circumstances, activities, performance, outcomes and results that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results and events may differ from those projected as a result of certain risks and uncertainties. These risks and uncertainties include but are not limited to: changes in general economic conditions, negative trends in general consumer-spending levels, failure to realize the anticipated benefits of opening retail stores; availability of hides and leathers and resultant price fluctuations; change in customer preferences for our product, and other factors disclosed in our filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
FAQ
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