Lifetime Brands, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 09, 2023 at 07:00 am
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Lifetime Brands, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was USD 207.04 million compared to USD 255.86 million a year ago. Net income was USD 3.27 million compared to net loss of USD 0.626 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to basic loss per share from continuing operations of USD 0.03 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to diluted loss per share from continuing operations of USD 0.03 a year ago.
For the full year, sales was USD 727.66 million compared to USD 862.92 million a year ago. Net loss was USD 6.17 million compared to net income of USD 20.8 million a year ago. Basic loss per share from continuing operations was USD 0.29 compared to basic earnings per share from continuing operations of USD 0.97 a year ago. Diluted loss per share from continuing operations was USD 0.29 compared to diluted earnings per share from continuing operations of USD 0.94 a year ago.
Lifetime Brands, Inc. designs, sources and sells branded kitchenware, tableware and other products used in the home. The Company operates through two segments: United States and International. The Company designs, markets and distributes its products to retailers, distributors and directly to consumers through retail Websites. The Company's product categories include two categories of products used to prepare, serve, and consume foods, including Kitchenware (kitchen tools and gadgets, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantry ware, spice racks and bakeware) and Tableware (dinnerware, stemware, flatware, and giftware). Its Home Solutions category includes products used in the home (thermal beverageware, bath scales, weather and outdoor household products, food storage, neoprene travel products and home decor). Its brands include Farberware, Mikasa, KitchenAid, Taylor, BUILT NY, KitchenCraft, Kamenstein, Pfaltzgraff, Rabbit, and MasterClass.
LIFETIME BRANDS, INC. 
