Brief: Tandy Leather Says Preliminary Year-To-Date Sales Through July Were $31 Mln, Down 27%

Tandy Leather Factory

11/08/2020 02:17

Aug 10 (Reuters) - Tandy Leather Factory Inc  TLF.O :
    * TANDY LEATHER ANNOUNCES PRELIMINARY YEAR-TO-DATE SALES AND OPERATING EXPENSES; FINANCIAL
RESTATEMENT CONTINUING AND EXPECTED TO RESULT IN DE-LISTING FROM NASDAQ; BOARD APPROVES A NEW
SHARE REPURCHASE PLAN
    * TANDY LEATHER FACTORY INC - YEAR-TO-DATE SALES THROUGH JULY 2020 WERE $31 MILLION, DOWN
27% FROM
SAME PERIOD IN 2019
    * TANDY LEATHER FACTORY- ANNOUNCED IT WILL NOT BE ABLE TO COMPLETE FINANCIAL RESTATEMENT AND
FILE
ALL OUTSTANDING PERIODIC REPORTS WITH SEC BY AUG 10
    * TANDY LEATHER FACTORY INC - IMPAIRMENT CHARGES RECOGNIZED IN Q1 OF 2020 ARE EXPECTED TO BE
$2.5
MILLION, PRIMARILY RELATED TO OPERATING LEASE ASSETS
    * TANDY LEATHER FACTORY INC - CASH AND SHORT-TERM SECURITIES AT END OF JULY WERE $11.5
MILLION
    * TANDY LEATHER FACTORY- BOARD HAD APPROVED A NEW PROGRAM TO REPURCHASE UP TO $5 MILLION OF
ITS
COMMON STOCK BETWEEN NOW AND JULY 31, 2022

Source text for Eikon:  ID:nGNX7mSJDp 
Further company coverage:  TLF.O 

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