ToughBuilt Industries surges on Q4 revenue rise

Toughbuilt Industries

18/04/2022 21:35

** Shares of home improvement co ToughBuilt Industries
 TBLT.O  jump 59.2% to $0.23 aftermarket 
    ** TBLT reports Q4 revenue increase of 105% to $24.6 mln vs
$12 mln the previous year  urn:newsml:reuters.com:*:nGNXNV5Mw
    ** Co says increase in revenue result of recurring orders
from existing customers and addition of new customers and new
product launches
    ** We closed 2021 with record sales of $70 mln, in line with
our expectations - Michael Panosian, ToughBuilt's CEO, said
    ** Expect to launch 5-10 new product lines in 2022 -
Panosian
    ** Up to Monday's close, shares of TBLT had fallen ~60% YTD

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