Tandy Leather Factory Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Tandy Leather Factory Inc. has filed its Q1 2024 10-Q report, detailing its financial performance and operational status.</b>

AI Summary

TANDY LEATHER FACTORY INC (TLF) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Tandy Leather Factory Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal executive offices are located at 1900 SE Loop 820, Fort Worth, TX 76140. Tandy Leather Factory Inc. was formerly known as The Leather Factory Inc., with a name change on July 23, 1993. The company is incorporated in Delaware and operates in the Leather & Leather Products industry.

Why It Matters

For investors and stakeholders tracking TANDY LEATHER FACTORY INC, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data, including balance sheet, income statement, and cash flow information, crucial for assessing the company's current health and future prospects. Understanding the details within this report allows stakeholders to evaluate management's performance, identify potential risks, and make informed investment decisions regarding Tandy Leather Factory Inc.

Risk Assessment

Risk Level: medium — TANDY LEATHER FACTORY INC shows moderate risk based on this filing. The company's financial performance and operational details are presented in this 10-Q, which is a standard quarterly filing. Specific financial figures and risk factors will determine the overall risk level.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-Q to assess the company's performance and identify any emerging concerns.

Key Numbers

• 2024-03-31 — Period of Report (CONFORMED PERIOD OF REPORT)
• 2024-05-10 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (2024-01-01)
• 2024-03-31 — Quarter End Date (2024-03-31)

Key Players & Entities

• TANDY LEATHER FACTORY INC (company) — FILER
• The Leather Factory Inc. (company) — FORMER COMPANY
• 19930723 (date) — DATE OF NAME CHANGE
• DE (jurisdiction) — STATE OF INCORPORATION
• 752543540 (identifier) — IRS NUMBER
• FT WORTH (location) — BUSINESS ADDRESS CITY
• TX (location) — BUSINESS ADDRESS STATE
• 76140 (postal_code) — BUSINESS ADDRESS ZIP

FAQ

Industry Context

Tandy Leather Factory Inc. operates within the Leather & Leather Products industry, a sector that involves the manufacturing and sale of goods made from leather.

Regulatory Implications

The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) for publicly traded companies in the United States.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow trends.
2. Examine any disclosed risk factors for potential business challenges.
3. Compare current quarter performance to previous periods for year-over-year and sequential changes.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q.
• 2024-05-10: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 10-K annual report for fiscal year 2023.

Key Financial Figures

• $0.0024 — ch registered Common Stock, par value $0.0024 TLF The Nasdaq Capital Market Ind

Filing Documents

• ef20026315_10q.htm (10-Q) — 670KB
• ef20026315_ex31-1.htm (EX-31.1) — 11KB
• ef20026315_ex32-1.htm (EX-32.1) — 4KB
• image00001.jpg (GRAPHIC) — 9KB
• 0001140361-24-025440.txt (&nbsp;) — 3550KB
• tlfa-20240331.xsd (EX-101.SCH) — 27KB
• tlfa-20240331_cal.xml (EX-101.CAL) — 46KB
• tlfa-20240331_def.xml (EX-101.DEF) — 123KB
• tlfa-20240331_lab.xml (EX-101.LAB) — 368KB
• tlfa-20240331_pre.xml (EX-101.PRE) — 237KB
• ef20026315_10q_htm.xml (XML) — 382KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 2

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements. 2 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 16

Controls and Procedures

Item 4. Controls and Procedures. 22

OTHER INFORMATION

PART II. OTHER INFORMATION 23

Legal Proceedings

Item 1. Legal Proceedings. 23

Risk Factors

Item 1A. Risk Factors. 23

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 23

Exhibits

Item 6. Exhibits. 24

SIGNATURES

SIGNATURES 26 ii Table of Contents Cautionary Statement Regarding Forward-Looking Statements and Information The following discussion, as well as other portions of this Form 10-Q, contains forward-looking statements that reflect our plans, estimates and beliefs. Any such forward-looking statements (including, but not limited to, statements to the effect that Tandy Leather Factory, Inc. ("TLF") or its management "anticipates," "plans," "estimates," "expects," "believes," "intends," and other similar expressions) that are not statements of historical fact should be considered forward-looking statements and should be read in conjunction with our Condensed Consolidated Financial Statements and related notes contained elsewhere in this report. These forward-looking statements are made based upon management's current plans, expectations, estimates, assumptions and beliefs concerning future events impacting us and should be read carefully because they involve risks and uncertainties. We assume no obligation to update or otherwise revise these forward-looking statements, except as required by law. Specific examples of forward-looking statements include, but are not limited to, statements regarding our forecasts of financial performance, share repurchases, store openings or store closings, capital expenditures and working capital requirements. Our actual results could materially differ from those discussed in such forward-looking and Results of Operations" of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Unless the context otherwise indicates, references in this Form 10-Q to "TLF," "we," "our," "us," "the Company," "Tandy," or "Tandy Leather" mean Tandy Leather Factory, Inc., together with its subs

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View this 10-Q filing on SEC EDGAR