The Leather Factory, Inc. of Fort Worth, Texas, last week reported results for the first quarter of 2001.

Net sales for the quarter ended March 31, 2001 were $9,372,613, up 27% over net sales of $7,405,557 for the same quarter last year. Tandy Leather Company, the subsidiary of TLF acquired in November 2000, accounted for $1.8 million of the increase in sales. The Leather Factory also reported net income of $497,283 or $0.05 per share for the quarter, compared to net income of $383,942 or $0.04 per share for the first quarter of 2000.

The Company continues to improve its gross profit margins, posting a healthy 52.1% for the quarter ended March 31, 2001. This margin compares to 48.2% in the same quarter a year ago.