- LightInTheBox Holding Co Ltd LITB reported a fourth-quarter FY21 sales decline of 14.8% year-on-year, to $113.15 million, beating the estimate of $78.49 million.
- Revenue from apparel sales rose 25.2% to $77.9 million.
- Gross margin for the quarter expanded by 230 basis points to 47.2%.
- Operating expenses decreased 2.2% to $60.9 million. Operating loss for the quarter was $(7.5) million versus a loss of $(2.7) million last year.
- Adjusted EBITDA was $16.2 million versus a loss of $(0.5) million last year.
- Earnings per ADS of $0.07 improved from a loss of $(0.03) last year.
- The company held $59.6 million in cash and equivalents as of December 31, 2021.
- Price Action: LITB shares are trading higher by 10.6% at $1.25 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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