Key Developments For Tandy Brands Accessories Inc
Tandy Brands Accessories Inc (TBAC.O) (Consolidated Issue listed on NASDAQ Global Market)
Tandy Brands Accessories, Inc. Reiterates FY 2010 Guidance
Tandy Brands Accessories, Inc. reiterated fiscal 2010 guidance for 8% to 12% sales growth and to post a significant improvement in profitability.
Tandy Brands Accessories, Inc. Issues Q1 2010 Earnings Outlook; Reiterates FY 2010 Outlook
Tandy Brands Accessories, Inc. announced that for the first quarter of 2010, it expects to report net income in the range of $800,000 to $1,200,000, or $0.11 to $0.17 per diluted share. The Company reiterated its financial guidance for fiscal 2010 of net sales growth of 8% to 12%, and a significant improvement in bottom line performance. The Company reported net sales of $129.0 million and a net loss of $15.1 million in fiscal 2009.
Tandy Brands Accessories, Inc. Announces New Financing Agreement
Tandy Brands Accessories, Inc. announced that it has a signed an amendment to its line-of-credit financing facility with Comerica Bank. The new facility is a revolving line-of-credit that provides financing of up to $27.5 million, with a term of 18 months, running through April 2011. The interest rate is approximately 100 basis points below the previous line of credit.
Tandy Brands Accessories, Inc. Comments On FY 2010 Revenue Outlook-Conference Call
Tandy Brands Accessories, Inc. announced that for fiscal 2010, it expects somewhere between 8% and 12% topline sales increase. The Company reported revenue of $129 million in fiscal 2009.
Tandy Brands Accessories, Inc. Completes Acquisition Of Strategic Assets From Chambers Belt Company
Tandy Brands Accessories, Inc. announced that it completed its purchase of certain strategic assets from Chambers Belt Company. As previously announced, the assets Tandy Brands acquired include existing inventory and related sales, manufacturing assets in Mexico, and intellectual property including the rights to the Chambers name. Financial terms of the acquisition were not disclosed.
