Date of report (Date of earliest event reported:)
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March 22, 2024 |
Tandy Leather Factory, Inc.
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(Exact Name of Registrant as Specified in Its Charter)
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Delaware
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(State or Other Jurisdiction of Incorporation
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1-12368
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75-2543540
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(Commission File Number)
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(IRS Employer Identification Number)
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1900 Southeast Loop 820, Fort Worth, Texas
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76140
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(Address of Principal Executive Offices)
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(Zip Code)
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(817) 872-3200
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, par value $0.0024
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TLF
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Nasdaq
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Item 2.02. |
Results of Operations and Financial Condition
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Item 9.01 |
Financial Statements and Exhibits.
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No.
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Exhibit
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Press Release dated March 22, 2024
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TANDY LEATHER FACTORY, INC.
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Date: March 22, 2024
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By: /s/ Janet Carr
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Janet Carr, Chief Executive Officer
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Revenues were $76.2 million, down 5.1% from 2022
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Generated operating income of $4.4 million
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Net income of $3.8 million, up from $1.2 million in 2022
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Gross margins of 59.3%, up from 57.9% in 2022
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Operating expenses $40.8 million, down 9.7% from 2022
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Adjusted EBITDA* of $6.5 million
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Ended year with $12.2 million of cash and cash equivalents
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Year ended
December 31, 2023
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Net income
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$
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3.8
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Add back:
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Depreciation and amortization
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1.2
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Interest income
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(0.1
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)
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Income tax provision
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0.8
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Stock-based compensation
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0.8
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Adjusted EBITDA
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$
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6.5
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