Shares of Lifetime Brands Inc. (LCUT, Financial) rose nearly 2% on Thursday after the company posted fourth-quarter earnings of 55 cents per share on $228.27 million in revenue, reflecting 24.9% year-over-year growth. The company fell $25.45 million short of revenue expectations and missed earnings estimates by 22 cents.
The gross margin was 37.2%, higher than 39% in the prior-year quarter. For the full year, the gross margin was 36.3%, down from 37.1% in 2017.
“Our fourth quarter performance is not what we expect to deliver to our shareholders," CEO Robert Kay said. "We believe these results were in part due to significant macroeconomic events, including European softness primarily due to Brexit, and the inconsistent implementation of a new U.S. tariff program that prevented us from passing along timely price increases. Additionally, certain of our North American distribution channels delivered disappointing sales due to stocking levels and inventory management decisions by customers, including our largest e-commerce customer. While these events had an adverse impact on our results, we are optimistic that they are predominantly singular in nature.”
Looking ahead, the company expects earnings per diluted share to be between $3.15 and $3.35. It plans to open seven new stores and relocate three others.
Shares of Domo Inc. (DOMO, Financial) climbed 20% on Thursday after announcing fourth-quarter results. The company posted a loss of 94 cents per share on $39.4 million in revenue, a 31% year-over-year increase. The company beat earnings estimates by 30 cents and revenue expectations by $1.63 million.
The GAAP operating margin increased 65 percentage points year over year and the non-GAAP operating margin grew 69 percentage points.
For the first quarter of 2020, the company guided for revenue between $40 million and $41 million. It projects a non-GAAP net loss per share in the range of $1.26 to $1.30.
Disclosure:The author holds no positions in any stocks mentioned.
