Tandy Leather Q3 net income $0.7M vs prior-year loss; sales down modestly; new store at Fort Bragg

TANDY LEATHER FACTORY INC

2022-Q3 EPS reported $0.09 vs consensus -$0.08 ▲ beat (+211.4%)

Net sales $19.1M vs $19.3M YoY; gross margin up to 60.8% from 57.5%.
Diluted EPS $0.09 vs $(0.002) in Q3 2021; net income $723k.
Adjusted EBITDA $1.5M; cash $3.1M, down from $10.2M at year end.
CEO cites inflation and recession risk; plans to focus on profit and cash in 2023.
Opened 104th store at Fort Bragg Army Base.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TANDY LEATHER FACTORY INC reported the third quarter, ended September 30, 2022 results: revenue $19.1 million, net income $0.7 million, EPS $0.09 per diluted share.

Period: the third quarter, ended September 30, 2022
Revenue: $19.1 million
Net income: $0.7 million
EPS: $0.09 per diluted share
Result: reported results

Exact text from the filing

Tandy Leather Factory, Inc. (Nasdaq: TLF) today announced the Company’s financial results for the third quarter, ended September 30, 2022. Third Quarter Highlights: • Net sales of $19.1 million • Gross profit of $11.6 million and a gross margin of 60.8% • Operating income of $1.0 million • Net income of $0.7 million, or $0.09 per diluted share • Adjusted EBITDA* of $1.5 million

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Source: SEC EDGAR

accession 0001140361-22-041586

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