This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tandy Brands Reports Fiscal 2012 Fourth Quarter And Year-End Earnings Results

  • Year to date adjusted EBITDA improved $5.6 million to $1.8 million
  • Fiscal 2012 net sales of $117.6 million, down 5% due to planned exit of unprofitable categories
  • Fiscal 2012 gifts segment sales increased by 40%
  • Year to date SG&A reduced by $7.6 million
  • Fiscal 2012 cash flow from operations up $15.3 million

DALLAS, Sept. 4, 2012 (GLOBE NEWSWIRE) -- Tandy Brands Accessories, Inc. (Nasdaq:TBAC) today reported financial results for its fourth quarter and fiscal year ended June 30, 2012.

Fourth Quarter Results

Net sales for the fiscal 2012 fourth quarter were $21.6 million, a 7 percent decrease over net sales of $23.2 million in the same period last year. The sales decline was primarily attributable to lower sales in exited product categories and timing of replenishment orders to a significant customer.

Fourth quarter fiscal 2012 gross margin as a percentage of net sales improved to 30.2 percent, compared to 12.8 percent in the fourth quarter of fiscal 2011. The increase in gross margin percentage over the prior year period was driven by the $3.7 million inventory write-off associated with exited product lines in the prior year and improvements in sales mix.

Total selling, general and administrative (SG&A) expense for the fourth quarter of fiscal 2012 improved by $1.4 million over the prior year period to $7.9 million. The 15 percent improvement was due to savings initiatives in labor, facilities and distribution costs. Fourth quarter fiscal 2012 SG&A as a percentage of net sales improved to 36.6 percent, compared to 40.1 percent in the prior year period.

For the fourth quarter, the Company reported a net loss of $2.2 million, or ($0.32) per diluted share, compared to net loss of $8.4 million, or ($1.21) per diluted share, in the prior year period. Adjusted net loss improved $1.1 million to $2.3 million compared to an adjusted net loss of $3.4 million in the prior year fourth quarter.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,783.90 -14.59 -0.08%
S&P 500 2,088.14 -1.97 -0.09%
NASDAQ 5,124.46 -3.0650 -0.06%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs