Lifetime Brands, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 08:05 am
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Lifetime Brands, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 191.67 million compared to USD 186.59 million a year ago. Net income was USD 4.21 million compared to net loss of USD 6.36 million a year ago. Basic earnings per share from continuing operations was USD 0.2 compared to basic loss per share from continuing operations of USD 0.3 a year ago. Diluted earnings per share from continuing operations was USD 0.2 compared to diluted loss per share from continuing operations of USD 0.3 a year ago.
For the nine months, sales was USD 483.54 million compared to USD 520.62 million a year ago. Net loss was USD 11.12 million compared to USD 9.44 million a year ago. Basic loss per share from continuing operations was USD 0.52 compared to USD 0.44 a year ago. Diluted loss per share from continuing operations was USD 0.52 compared to USD 0.44 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.