{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-24-025477","form_type":"8-K","ticker":"TLF","cik":"0000909724","company_name":"TANDY LEATHER FACTORY INC","filed_at":"2024-05-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:22.403897+00:00","generated_at":"2026-06-02T04:33:59.474089+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Tandy Leather Factory Q1 revenues down 5.3% to $19.3M; net income down to $0.5M","bullets":["Revenue $19.3M, down 5.3% YoY; gross margin 56.7% vs 58.1% due to promotional activity.","Net income $0.5M ($0.06 EPS), down from $0.7M ($0.08) in Q1 2023.","Adjusted EBITDA $1.1M; operating expenses down 5.2% to $10.3M.","Cash $12.3M vs $8.6M a year ago; inventory $36.7M vs $38.0M at year-end 2023.","CEO cites broader consumer environment and difficult comp for sales decline."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-24-025477","json":"https://secwatch.observer/filing/0001140361-24-025477.json","markdown":"https://secwatch.observer/filing/0001140361-24-025477.md","text":"https://secwatch.observer/filing/0001140361-24-025477.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/909724/000114036124025477/0001140361-24-025477-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/909724/000114036124025477/ef20028915_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T04:33:59.474089+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b5eb3e50714f9c3726c8b3402bf844d6a80ee8fd","claim":"TANDY LEATHER FACTORY INC reported first fiscal quarter of 2024 results: revenue $19.3 million, net income $0.5 million, EPS $0.06 per share.","evidence_excerpt":"Highlights from First Quarter 2024: • Revenues were $19.3 million, down 5.3% from 2023 • Generated operating income of $0.7 million • Net income of $0.5 million, down from $0.7 million in 2023 • Gross margins of 56.7%, down from 58.1% in 2023 • Operating expenses $10.3 million, down 5.2% from 2023 • Adjusted EBITDA* of $1.1 million • Ended quarter with $12.3 million of cash and cash equivalents Tandy Leather Factory’s first quarter sales were $19.3 million in 2024, down from $20.4 million in 2023. First quarter 2024 gross profit was $10.9 million, down from $11.8 million in 2023. First quarter operating income was $0.7 million, down from $1.0 million in 2023. As of March 31, 2024, the Company held $12.3 million of cash and cash equivalents, up from $8.6 million a year earlier. The Company held inventory of $36.7 million, down from $38.0 million as of December 31, 2023. The Company had basic and diluted net income in the quarter of $0.06 per share, versus $0.08 in the prior year.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/909724/000114036124025477/0001140361-24-025477-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first fiscal quarter of 2024"},{"label":"Revenue","value":"$19.3 million"},{"label":"Net income","value":"$0.5 million"},{"label":"EPS","value":"$0.06 per share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}