LightInTheBox Reports First Quarter 2020 Financial Results
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LightInTheBox Holding (LITB) Reports Q1 EPS of $0.01, Revenues Miss; Offers 2Q Revenue Guidance Above Consensus
June 19, 2020 6:02 AM EDTLightInTheBox Holding (NYSE: LITB) reported Q1 EPS of $0.01, versus ($0.21) reported last year. Revenue for the quarter came in at $51.5 million versus the consensus estimate of $78.49 million.
First Quarter 2020 Highlights
Total revenues increased 1.3% year-over-year to $51.5 million.Gross margin expanded further to 46.4% from 40.4% last quarter and 34.8% in the same quarter of 2019.Third consecutive quarter of GAAP profitability despite impact from COVID-19 pandemic with net income of $0.7 million, compared with a net loss of $14.1 million in the same quarter of 2019.Adjusted EBITDA improved significantly, increasing to... More