This Day On The Street
Continue to site
ADVERTISEMENT
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

Lifetime Brands, Inc. Reports Second Quarter 2013 Results

Lifetime Brands, Inc. (NasdaqGS: LCUT), a leading global provider of branded kitchenware, tabletop and other products used in the home, today reported its financial results for the second quarter ended June 30, 2013.

Second Quarter Financial Highlights:

  • Consolidated net sales were $97.0 million, an increase of $2.1 million, or 2.2%, as compared to consolidated net sales of $94.9 million for the corresponding period in 2012. Consolidated net sales included $3.9 million of net sales from Fred® & Friends, which was acquired in December 2012.
  • Gross margin was $36.4 million, or 37.5%, as compared to $35.4 million, or 37.3%, for the corresponding period in 2012.
  • Net loss was $0.6 million, or $0.04 per diluted share, in the 2013 period, as compared to net income of $0.6 million, or $0.04 per diluted share, in the 2012 period. Adjusted net loss was $1.1 million, or $0.08 per diluted share, in the 2013 period, as compared to adjusted net income of $1.0 million, or $0.08 per diluted share, in the 2012 period.
  • Consolidated EBITDA was $4.3 million, as compared to $5.6 million for the corresponding 2012 period.

Six Months Financial Highlights:

  • Consolidated net sales were $195.6 million, a decrease of $8.4 million, or 4.1%, as compared to net sales of $204.0 million for the corresponding period in 2012. Consolidated net sales included $7.3 million of net sales from Fred® & Friends.
  • Gross margin for the six months ended June 30, 2013 was $72.7 million, or 37.1%, as compared to $75.8 million, or 37.2%, for the corresponding period in 2012.
  • Net loss was $1.2 million, or $0.09 per diluted share, in the 2013 period, as compared to net income of $1.9 million, or $0.15 per diluted share, in the 2012 period. Adjusted net loss was $1.7 million, or $0.13 per diluted share, in the 2013 period, as compared to adjusted net income of $2.4 million, or $0.19 per diluted share, in the 2012 period.
  • Consolidated EBITDA was $7.4 million, as compared to $11.8 million for the corresponding 2012 period.

Jeffrey Siegel, Lifetime's Chairman and Chief Executive Officer commented,

1 of 4

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs