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LightInTheBox forecasts third-quarter revenue below expectations, shares slump
August 19, 2013 / 8:57 PM / in 4 years

LightInTheBox forecasts third-quarter revenue below expectations, shares slump

(Reuters) - Online retailer LightInTheBox Holding Co Ltd (LITB.N) reported a second-quarter profit below analysts’ estimates as costs rose, and forecast current-quarter sales below expectations, sending its shares down 30 percent in after market trading.

The company forecast revenue of $68 million to $70 million for the third quarter. Analysts were expecting $75.8 million, according to Thomson Reuters I/B/E/S.

The company reported a net profit of $0.6 million, or breakeven per share, compared with a net loss of $1.4 million, or 6 cents per share, a year earlier.

Excluding items, the company earned 5 cents per share.

Revenue rose 52.6 percent to $72.2 million while operating costs rose 57 percent to $32.2 million.

Analysts had expected earnings of 6 cents per share on revenue of $75.8 million.

Shares of the company closed at $19.27 on the New York Stock Exchange on Monday.

Reporting By Lehar Maan in Bangalore

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