News Buzz – Lifetime Brands, Inc. (NASDAQ:LCUT) declares its financial results

Lifetime Brands, Inc. (NASDAQ:LCUT) closed last trading day at 18.25 (USD) in green zone with +0.55 percent. It has market value of 265.81M (USD). Daily trading range was recorded between 17.90 and 18.46 (USD) while it 52-week range value was 12.03 to 21.20 (USD). About 19.24 thousand shares were exchanged contrast to average volume of 48.03 thousand shares.

Year to date performance for the Lifetime Brands, Inc. (LCUT) is sits at 3.33%. For the quarter, the stock has changed 25.70%. Monthly stock performance comes in at -9.68%. Looking a little bit closer, performance over the past week was -5.44%.

Lifetime Brands, Inc. (NASDAQ:LCUT) today announced its financial results for the first quarter ended March 31, 2017.

Consolidated net sales were $113.4 million, as compared to consolidated net sales of $110.9 million for the corresponding period in 2016. In constant currency, which excludes the impact of foreign exchange fluctuations, consolidated net sales increased $5.5 million, or 5.1%, as compared to consolidated net sales in the corresponding period in 2016. Gross margin was $43.9 million, or 38.8%, as compared to $40.6 million, or 36.6%, for the corresponding period in 2016.

Loss from operations was $1.9 million, as compared to a loss of $5.2 million for the corresponding period in 2016.n Net loss was $1.3 million, or $0.09 per diluted share, as compared to a net loss of $4.3 million, or $0.31 per diluted share, in the corresponding period in 2016.   Adjusted net loss was $1.5 million, or $0.11 per diluted share, as compared to a loss of $3.4 million, or $0.24 per diluted share, in the corresponding period in 2016.

Consolidated adjusted EBITDA was $2.3 million, as compared to $0.3 million for the corresponding 2016 period. Equity in earnings, net of taxes, was $540 thousand, as compared to equity in losses, net of taxes of $150 thousand in the corresponding 2016 period.

Lifetime Brands, Inc. (LCUT) is currently trading at distance from 20-Day simple moving Average of -7.38% whereas distance from 50-Day Simple moving average is -2.11% and distance from 200-Day Simple Moving Average of 15.70%. Analyst average rating for this stock stands at 3.00.

Lifetime Brands, Inc. designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the United States and internationally. The company operates through three segments: U.S. Wholesale, International, and Retail Direct. It offers kitchenware products, including kitchen tools and gadgets, cutlery, cutting boards, shears, cookware, pantryware, spice racks, and bakeware, as well as novelty kitchen tools, tableware accessories, party goods, personal accessories, and other products; and tableware products comprising dinnerware, stemware, flatware, and giftware.

About the Author

Kyle Webster
Kyle Webster
Kyle Webster is a self taught investor and follows the value investing approach to picking stocks. He possesses over 10 years of investment experience, an M.B.A. from Louisiana State University, and is also certified in Risk Management Assurance. Kyle is a Certified Internal Auditor, Data Miner, and author with a career broadly spanning over multiple business areas. He has exploited those observations and developed investment tactics within a fundamentally sound long-term investment strategy. He currently covers Research News category for our site. He can be reached via Email Contact -  kyle@mostvolatilestocks.com.

Be the first to comment on "News Buzz – Lifetime Brands, Inc. (NASDAQ:LCUT) declares its financial results"

Leave a comment

Your email address will not be published.


*