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Stock impact report

Tandy Leather Factory Reports Fourth Quarter and Full Year 2023 Results

Tandy Leather Factory, Inc. - common stock (TLF) 
US:NASDAQ Investor Relations: ir.tandyleather.com
Company Research Source: GlobeNewswire
FORT WORTH, Texas, March 22, 2024 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq: TLF) today announced the Company’s financial results for the fourth fiscal quarter and full year 2023. Highlights from 2023: Revenues were $76.2 million, down 5.1% from 2022Generated operating income of $4.4 millionNet income of $3.8 million, up from $1.2 million in 2022Gross margins of 59.3%, up from 57.9% in 2022Operating expenses $40.8 million, down 9.7% from 2022Adjusted EBITDA* of $6.5 millionEnded year with $12.2 million of cash and cash equivalents The Company’s full year sales were $76.2 million in 2023, down from $80.3 million in 2022. Operating expenses decreased to $40.8 million from $45.1 million in 2022 and decreased as a percentage of sales to 53.5% from 56.2% in 2022. 2023 full year gross profit was $45.2 million, or 59.2%, vs $46.5 million, or 57.9%, in 2022. Net income was $3.8 million in 2023, compared to $1.2 million in 2022. Additional details regarding the Company’s 202 Show less Read more
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