Lifetime Brands, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 04, 2022 at 12:00 pm
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Lifetime Brands, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 151.31 million compared to USD 186.64 million a year ago. Net loss was USD 3.46 million compared to net income of USD 5.79 million a year ago. Basic loss per share from continuing operations was USD 0.16 compared to basic earnings per share from continuing operations of USD 0.27 a year ago. Diluted loss per share from continuing operations was USD 0.16 compared to diluted earnings per share from continuing operations of USD 0.26 a year ago.
For the six months, sales was USD 334.03 million compared to USD 382.29 million a year ago. Net loss was USD 3.08 million compared to net income of USD 8.86 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.42 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to diluted earnings per share from continuing operations of USD 0.4 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.