Tandy Leather Factory FY 2023 revenue down 5.1% to $76.2M; net income rises to $3.8M

TANDY LEATHER FACTORY INC

FY 2023 revenue $76.2M, down 5.1% YoY; net income $3.8M vs $1.2M in 2022.
Gross margin improved to 59.3% from 57.9%; operating expenses down 9.7% to $40.8M.
Adjusted EBITDA $6.5M; cash and equivalents $12.2M vs $8.0M a year earlier.
Q4 revenue $20.8M (down from $22.4M); Q4 diluted EPS $0.23 vs $0.06.
CEO cites cost discipline and plans for selective new stores in 2024.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TANDY LEATHER FACTORY INC reported fourth fiscal quarter and full year 2023 results: revenue $76.2 million, net income $3.8 million, EPS $0.23 per share.

Period: fourth fiscal quarter and full year 2023
Revenue: $76.2 million
Net income: $3.8 million
EPS: $0.23 per share
Result: reported results

Exact text from the filing

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 2022 • Generated operating income of $4.4 million • Net income of $3.8 million, up from $1.2 million in 2022 • Gross margins of 59.3%, up from 57.9% in 2022 •

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Source: SEC EDGAR

accession 0001140361-24-014811

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