Tandy Leather Factory Q2 revenue down 1.1% to $17.3M; EPS falls to $0.01 from $0.06

TANDY LEATHER FACTORY INC

2024-Q2 EPS reported $0.07 revenue$36,561,000

Revenue $17.3M, down 1.1% YoY; gross margin 58.0% vs 62.5% in 2023.
Net income $0.1M ($0.01 diluted EPS) down from $0.5M ($0.06) in prior year.
Operating income $63,000 vs $0.8M in 2023; operating expenses fell 1.7% to $10.0M.
Adjusted EBITDA of $0.8M; cash and equivalents $11.5M, up from $10.0M a year ago.
CEO cites lower customer discretionary income and increased promotional activity pressuring margins.

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