ToughBuilt Industries down on bigger Q1 loss

Toughbuilt Industries

23/05/2022 15:07

** Shares of home improvement company ToughBuilt Industries
 TBLT.O  down 5.4% at $6.5 in morning trade
    ** TBLT Q1 net loss attributable to common stockholders
widens to $12.1 mln, or $14.04/shr, from $6.1 mln, or
$13.43/shr, previous year  urn:newsml:reuters.com:*:nGNX6g2588
    ** Co's operating expenses jump to $18.4 mln from $9.4 mln
due to increased shipping costs, headcount, marketing and
advertising, as well as fees related to sales through Amazon.com
 AMZN.O  - ToughBuilt
    ** Co posts revenue of $17.2 mln, a 40% increase from prior
year
    ** Up to Friday's close, TBLT shares had lost ~88% this year

 (Reporting by Kannaki Deka in Bengaluru)
 ((Kannaki.Deka@thomsonreuters.com))