LightInTheBox Holding (LITB) Reports Q4 Loss of $0.36, Revenues Miss; Offers Q1 Revenue Outlook

LightInTheBox Holding (NYSE: LITB) reported Q4 EPS of ($0.36), versus ($0.05) reported last year. Revenue for the quarter came in at $57.5 million versus the consensus estimate of $78.49 million.

• The Company generated positive cash flow with cash and cash equivalents of $38.8 million as of December 31, 2018, a slight increase from $37.5 million as of September 30, 2018.
• Gross margin improved to 34.6% from 29.7% during the same period last year.
• Loss from operations decreased significantly to $1.7 million, from $3.6 million in the same period last year.

"I am very pleased with the progress we made during the quarter in integrating ezbuy and LightInTheBox to improve efficiency and fully leverage the synergies created by both businesses," commented Mr. Jian He, Chief Executive Officer of LightInTheBox. "We began implementing a number of initiatives during the quarter including shifting our focus towards generating sales in categories with higher gross margins, launching more targeted and efficient marketing campaigns during the holiday sales period, and improving inventory turnover. These initiatives had an immediate positive impact on our financials which I believe indicates the direction we are headed in. While net revenues decreased by 37% year-over-year during the quarter, our gross margin improved to 34.6%, and we generated positive cash flow which resulted in cash and cash equivalents increasing slightly to $39.8 million. Our loss from operations also narrowed to $1.7 million. These initial results are encouraging and I'm confident that we have the right strategy in place turn this business around and regain growth momentum."

GUIDANCE:

LightInTheBox Holding sees Q1 2019 revenue of $48-51 million.

For earnings history and earnings-related data on LightInTheBox Holding (LITB) click here.

You May Also Be Interested In

• ​Trump said he was unaware of his earnings from crypto
• Coty's chief people officer to resign in August
• Li Auto reports 30,895 vehicle deliveries in June 2026