Lifetime Brands (LCUT) Misses Q2 EPS by 11c, Miss on Revenues

Lifetime Brands (NASDAQ: LCUT) reported Q2 EPS of ($0.05), $0.11 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $117.4 million versus the consensus estimate of $121.59 million.

Second Quarter Financial Highlights:

• Consolidated net sales were $117.4 million, as compared to consolidated net sales of $118.1 million in the corresponding period in 2016. In constant currency, which excludes the impact of foreign exchange fluctuations, consolidated net sales increased 1.5%, as compared to consolidated net sales in the corresponding period in 2016.
• Gross margin was $42.8 million, or 36.5%, as compared to $43.0 million, or 36.4%, for the corresponding period in 2016.
• Loss from operations was $3.1 million, as compared to a loss of $0.3 million for the corresponding period in 2016.
• Net loss was $2.1 million, or $0.14 per diluted share, as compared to a net loss of $1.2 million, or $0.08 per diluted share, in the corresponding period in 2016.
• Adjusted net loss was $0.8 million, or $0.05 per diluted share, as compared to adjusted net loss of $80 thousand, or $0.01 per diluted share, in the corresponding period in 2016.
• Consolidated EBITDA was $1.4 million, as compared to $5.2 million for the corresponding 2016 period.
• Equity in earnings, net of taxes, was $0.5 million, as compared to $18 thousand in the corresponding 2016 period.

For earnings history and earnings-related data on Lifetime Brands (LCUT) click here.

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