The Leather Factory Inc. reports strong earnings
Second quarter results from The Leather Factory Inc. (TLF) show a boost in sales, up 23% from last year, partly thanks to the acquisition of Tandy Leather in November 2000. The US firm from Fort Worth, Texas, is an international marketer and wholesale distributor of a wide range of products, including leather, belts, shoe repair, leather dyes and do-it-yourself kits.
Net income for the quarter ending 30 June 2001 were $621,910 or $0.06 a share, compared with $493,394 and $0.05 a share last time. Net sales for TLF were $9,359,893 compared with $7,602,405 in 2000. The chairman, Wray Thompson, accepted that much of the sales increase was due to the incorporation of Tandy Leather as a subsidiary, but added that the improvements to the bottom line were thanks to the core TLF business.
