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Stock impact report

Tandy Leather Factory Reports Third Quarter 2023 Results

Tandy Leather Factory, Inc. - common stock (TLF) 
US:NASDAQ Investor Relations: ir.tandyleather.com
Company Research Source: GlobeNewswire
FORT WORTH, TEXAS, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq: TLF) today announced the Company’s financial results for the third fiscal quarter 2023, ended September 30, 2023. Third Quarter Highlights: Revenues were $17.5 million, down 8% from 2022Generated operating income of $0.9 millionNet income of $0.6 millionGross margins of 62.4%Adjusted EBITDA* of $1.4 millionEnded quarter with $8.6 million of cash and cash equivalents Tandy Leather Factory’s third quarter sales were $17.5 million in 2023, down from $19.1 million in 2022. Third quarter 2023 gross profit was $10.9 million, down from $11.6 million in 2022. As of September 30, 2023, the Company held $8.6 million of cash and cash equivalents, up from $8.0 million at year end. The Company held inventory of $38.6 million, up from $38.2 million as of December 31, 2022. The Company had basic and diluted net income in the quarter of $0.08 per share, versus $0.09 in the prior year. Addi Show less Read more
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