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Lifetime Brands (LCUT)

Lifetime Brands is a leading global designer, developer and marketer of a broad range of branded consumer products used in the home. The Company markets its products under well-known kitchenware brands, including Farberware®, KitchenAid®, Sabatier®, Amco Houseworks®, Chef'n® Chicago™ Metallic, Copco®, Fred® & Friends, Houdini™, KitchenCraft®, Kamenstein®, Kizmos™, La Cafetière®, MasterClass®, Misto®, Swing-A-Way®, Taylor® Kitchen, and Rabbit®; respected tableware and giftware brands, including Mikasa®, Pfaltzgraff®, Fitz and Floyd®, Creative Tops®, Empire Silver™, Gorham®, International® Silver, Kirk Stieff®, Towle® Silversmiths, Wallace®, Wilton Armetale®, V&A® and Royal Botanic Gardens Kew®; and valued home solutions brands, including BUILT NY®, Taylor® Bath, Taylor® Kitchen, Taylor® Weather and Planet Box®. The Company also provides exclusive private label products to leading retailers worldwide.

Company profile

Ticker
LCUT
Exchange
CEO
Robert Kay
Employees
Incorporated
Location
Fiscal year end
Former names
LIFETIME HOAN CORP
SEC CIK
Subsidiaries
Creative Tops Limited • Lifetime Brands Europe B.V. • Grand Venture Enterprises Limited • Kitchen Craft (Asia) Limited • La Cafetiere (UK) Limited • Lifetime Brands (Jersey) Limited • Lifetime Brands Europe Limited • Lifetime Brands Global Limited • Lifetime Brands, Inc. (HK) Limited • Lifetime Brands Global Trading (Shanghai) Company Limited ...
IRS number
112682486

LCUT stock data

Analyst ratings and price targets

Last 3 months

Calendar

4 Aug 22
20 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 7.2M 7.2M 7.2M 7.2M 7.2M 7.2M
Cash burn (monthly) 2.55M 2.18M 154.67K (no burn) 7.42M 1.17M
Cash used (since last report) 4.29M 3.67M 260.47K n/a 12.5M 1.96M
Cash remaining 2.9M 3.53M 6.94M n/a -5.3M 5.23M
Runway (months of cash) 1.1 1.6 44.8 n/a -0.7 4.5

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
28 Jun 22 Siegel Jeffrey Common Stock Payment of exercise Dispose F No No 11.37 766 8.71K 1,144,861
28 Jun 22 Winoker Laurence Common Stock Payment of exercise Dispose F No No 11.37 721 8.2K 95,416
28 Jun 22 Siegel Daniel Common Stock Payment of exercise Dispose F No No 11.37 574 6.53K 345,170
28 Jun 22 Kay Robert Bruce Common Stock Payment of exercise Dispose F No No 11.37 766 8.71K 374,817
27 Jun 22 Winoker Laurence Common Stock Payment of exercise Dispose F No No 11.71 641 7.51K 96,137
27 Jun 22 Siegel Daniel Common Stock Payment of exercise Dispose F No No 11.71 797 9.33K 345,744
27 Jun 22 Kay Robert Bruce Common Stock Payment of exercise Dispose F No No 11.71 7,977 93.41K 375,583
25 Jun 22 Winoker Laurence Common Stock Payment of exercise Dispose F No No 11.78 721 8.49K 96,778
25 Jun 22 Siegel Daniel Common Stock Payment of exercise Dispose F No No 11.78 798 9.4K 346,541
25 Jun 22 Kay Robert Bruce Common Stock Payment of exercise Dispose F No No 11.78 1,276 15.03K 383,560
46.7% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 67 67
Opened positions 11 4 +175.0%
Closed positions 11 12 -8.3%
Increased positions 19 22 -13.6%
Reduced positions 25 22 +13.6%
13F shares Current Prev Q Change
Total value 165.54M 138.23M +19.8%
Total shares 10.31M 10.22M +0.8%
Total puts 22.3K 0 NEW
Total calls 0 0
Total put/call ratio Infinity
Largest owners Shares Value Change
Dimensional Fund Advisors 1.34M $14.81M +2.6%
Mill Road Capital Management 1.21M $13.34M 0.0%
Mill Road Capital II 1.21M $22.49M 0.0%
BLK Blackrock 848.43K $9.37M +0.1%
Kennedy Capital Management 706.74K $7.8M -20.9%
Vanguard 630.74K $6.96M -0.5%
Pacific Ridge Capital Partners 598.09K $6.6M -7.8%
JB Capital Partners 515.28K $5.69M +30.2%
AMP Ameriprise Financial 421.27K $4.65M +5.1%
JPM JPMorgan Chase & Co. 283.93K $3.13M -1.9%
Largest transactions Shares Bought/sold Change
Kennedy Capital Management 706.74K -186.56K -20.9%
NMR Nomura 168.55K +168.55K NEW
Guardian Wealth Management 133.85K +133.85K NEW
JB Capital Partners 515.28K +119.42K +30.2%
Millennium Management 0 -61.02K EXIT
Pacific Ridge Capital Partners 598.09K -50.91K -7.8%
Zacks Investment Management 0 -35.27K EXIT
Dimensional Fund Advisors 1.34M +33.44K +2.6%
Jacobs Levy Equity Management 0 -24.75K EXIT
AMP Ameriprise Financial 421.27K +20.51K +5.1%

Financial report summary

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Competition
Servotronics
Risks
  • The Company’s business may be materially adversely affected by market conditions and by global and economic conditions and other factors beyond its control.
  • The Company must successfully manage the demand, supply, and operational challenges associated with the actual or perceived effects of the COVID-19 pandemic. Any failure to do so could have a material adverse impact on the Company’s business, financial condition, results of operations, cash flows, and competitive position.
  • The Company's results of operations could be negatively impacted by inflation or deflation in supply chain costs, including raw materials, sourcing, transportation and energy
  • The Company’s U.K. operations and sales may be materially adversely affected by the exit of the U.K. from the European Union.
  • The Company’s business may be materially adversely affected by the imposition of tariffs and other trade policies implemented by the U.S. and other governments.
  • Legislative or regulatory initiatives related to climate change could have a material adverse effect on our business.
  • The Company's ability to obtain insurance and the terms of any available insurance coverage could be materially adversely affected by macroeconomic and company-specific events, as well as the financial condition of insurers.
  • The Company has substantial indebtedness and the highly seasonal nature of the Company’s business impacts its borrowing needs.
  • The Company’s failure to meet certain covenants or comply with other requirements of its Debt Agreements may materially and adversely affect the Company’s assets, financial position and cash flows.
  • The Company’s borrowings, and discount rate applied to sale of receivables, are subject to interest rate fluctuations and an increase in interest rates could adversely affect the Company’s financial results.
  • The Company’s inability to complete future acquisitions or strategic alliances and/or integrate acquired businesses could have a material adverse effect on the Company’s business and results of operations.
  • Foreign exchange variability and currency controls could materially adversely affect the Company’s operating results and financial condition.
  • The Company’s business requires it to maintain large fixed costs that can affect its profitability.
  • Cost reduction efforts may not be successful and restructuring benefits may not be realized.
  • If the Company’s goodwill or other long-term assets become impaired, the Company will be required to record impairment charges, which may be significant.
  • The Company’s projections of product demand, sales and net income are highly subjective in nature and the Company’s future sales and net income could vary materially from the Company’s projections.
  • Increases in the cost of employee benefits could materially adversely impact the Company’s financial results and cash flows.
  • There are inherent limitations on the effectiveness of the Company’s controls.
  • The Company faces intense competition from other companies worldwide and if the Company is unable to compete successfully, the Company’s business, results of operations and financial condition could be materially and adversely affected.
  • Changes in the Company’s customer purchasing practices could materially adversely affect the Company’s operating results.
  • Changes at the Company’s large customers, or actions taken by them, and consolidation in the retail industry could materially adversely affect the Company’s operating results.
  • The rapidly changing retail environment could result in the loss of, or a material reduction in, sales to the Company’s brick-and-mortar customers, which could materially adversely affect the Company’s business, results of operations, financial condition and cash flows.
  • If the Company is unable to effectively manage its existing Internet business, the Company's reputation and operating results may be harmed.
  • Demand for new products and the inability to develop and introduce new competitive products at favorable profit margins could adversely affect the Company’s performance and prospects for future growth.
  • International suppliers subject the Company to regional regulatory, man-made or natural disasters, health epidemics, political or military conflicts, economic and foreign currency exchange risk that could materially and adversely affect the Company’s operating results.
  • The Company’s international trade subjects it to transportation risks.
  • The Company depends on third-party manufacturers to produce the vast majority of its products, which presents quality control risks to the Company.
  • The Company’s product costs are subject to price fluctuation.
  • A widespread outbreak of an illness, such as the ongoing COVID-19 pandemic, or other health issue could negatively affect various aspects of the business, including the Company's supply chain, and make it more difficult and expensive to meet the Company's obligations to its customers, and could result in reduced demand from its customers.
  • The loss of certain licenses or material changes in royalty rates could materially adversely affect the Company’s operating margin and cash flow.
  • The Company may not be able to adequately establish or protect its intellectual property rights, and the infringement or loss of the Company’s intellectual property rights could harm its business.
  • If the Company is unable to protect the confidentiality of its proprietary information and know-how, the value of the Company’s technology, products and services could be harmed significantly.
  • The Company’s brands are subject to reputational risks and damage to the Company’s brands or reputation could adversely affect its business.
  • Interruptions in the Company’s operations caused by outside forces could cause material losses.
  • The Company’s international operations present special challenges that the Company may not be able to meet, and this could materially and adversely affect the Company’s financial results.
  • The Company operates in a regulated environment that imposes significant compliance requirements. Non-compliance with these requirements could subject the Company to sanctions and materially adversely affect the Company’s business.
  • New and future laws and regulations governing the Internet and e-commerce could have a material adverse effect on the Company’s business, results of operations and financial condition.
  • A failure in or compromise of the Company’s operating systems or infrastructure or those of third parties could disrupt the Company’s business and cause losses.
  • The Company is subject to cyber security risks and may incur increasing costs in efforts to minimize those risks and to comply with regulatory standards.
  • The Company sells consumer products which involve an inherent risk of product liability claims.
  • The Company may incur material costs due to environmental liabilities which could have a material adverse effect on the Company’s business, financial condition and results of operations.
  • The Company’ executives and other key employees are critical to the Company’s success. The loss of and/or failure to attract and maintain its highly skilled employees could adversely affect the Company’s business.
Management Discussion
  • Consolidated net sales for the three months ended June 30, 2022 were $151.3 million, representing a decrease of $35.3 million or 18.9%, as compared to net sales of $186.6 million for the corresponding period in 2021. In constant currency, a non-GAAP financial measure, which excludes the impact of foreign exchange fluctuations and was determined by applying 2022 average rates to 2021 local currency amounts, consolidated net sales decreased by $33.6 million, or 18.2%, as compared to consolidated net sales in the corresponding period in 2021.
  • Net sales for the U.S. segment for the three months ended June 30, 2022 were $137.2 million, a decrease of $29.4 million, or 17.6%, as compared to net sales of $166.6 million for the corresponding period in 2021.
  • Net sales for the U.S. segment’s Kitchenware product category were $84.3 million for the three months ended June 30, 2022, a decrease of $19.3 million, or 18.6%, as compared to $103.6 million for the corresponding period in 2021. The decrease was driven by lower sales for kitchen tools and gadgets, cutlery and boards, and bakeware due to inventory buildup at brick-and-mortar and e-commerce retailers.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: accelerated, Appointment, attached, began, buildup, buying, center, Compensatory, Departure, economy, employment, entirety, faced, hereto, inflation, Laurence, led, low, overhead, President, step, Treasurer, Vice, weaker, Winoker
Removed: disruption, improved, longer, shopping, trucking