Tandy Leather net sales rise 11.2% in Q3

22 Oct '05

2 min read

Texas based leading Leatherwear Company Tandy Leather Factory Inc announced that it expects to report third quarter 2005 consolidated net sales of approximately $11.7 million compared to $10.6 million for the third quarter 2004, an increase of 11.2 percent. Furthermore, it expects to report an increase in third quarter 2005 sales for its Retail Leathercraft operation of 37 percent over the same quarter of 2004, including an increase in same store sales of 11 percent.

Chairman and Chief Executive Officer, Wray Thompson, commented, "Company is very pleased with the preliminary third quarter revenue results, especially considering the effects of severe weather on their Gulf Coast stores and on the retail environment in general. Sales in all three months of the third quarter of 2005 were up over the same months last year. They had a particularly strong August, with total revenues up 14 percent over August of 2004, and their National Account group is expected to report a 2 percent revenue gain for the third quarter of 2005 compared to the third quarter of 2004. They believe that our performance in the middle half of the year positions us well going into the fourth quarter, which is typically much stronger than either the second or third quarters."

All of the anticipated results described here are subject to completion of the quarterly review of the Company's financial statements by its auditors. The Company plans to outline its third quarter 2005 financial results in an announcement to be released during market hours on Wednesday, November 2, 2005. Wray Thompson, CEO, and Shannon Greene, CFO, will hold a conference call to further discuss the company's third quarter 2005 financial results at 3:00 p.m. Eastern Time on November 3, 2005. Call details will be announced shortly.

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