LightInTheBox Holding (LITB) Reports Q1 EPS of $0.01, Revenues Miss; Offers 2Q Revenue Guidance Above Consensus
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LightInTheBox Reports First Quarter 2020 Financial Results
June 19, 2020 6:00 AM EDTBEIJING, June 19, 2020 /PRNewswire/ -- LightInTheBox Holding Co., Ltd. (NYSE: LITB) ("LightInTheBox" or the "Company"), a cross-border e-commerce platform that delivers products directly to consumers around the world, today announced its unaudited financial results for the first quarter ended March 31, 2020.
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... More