LIFETIME BRANDS INC
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
LCUT$7.98+6.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (unaudited) –
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands) (unaudited)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| OPERATING ACTIVITIES | ||
| Net loss | $(6,260) | $(8,805) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization | 4,939 | 4,870 |
| Amortization of financing costs | 739 | 477 |
| Mark to market loss on interest rate derivatives | 174 | 234 |
| Non-cash lease adjustment | (455) | (713) |
| Provision for doubtful accounts | 195 | 1,643 |
| Stock compensation expense | 807 | 861 |
| Undistributed losses from equity investment, net of taxes | 2,092 | 2,777 |
| Changes in operating assets and liabilities | ||
| Accounts receivable | 41,119 | 15,336 |
| Inventory | (1,566) | 13,368 |
| Prepaid expenses, other current assets and other assets | 3,159 | 1,811 |
| Accounts payable, accrued expenses and other liabilities | (34,359) | (18,085) |
| Income taxes receivable | — | (1,434) |
| Income taxes payable | (71) | (235) |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 10,513 | 12,105 |
| INVESTING ACTIVITIES | ||
| Purchases of property and equipment | (600) | (511) |
| NET CASH USED IN INVESTING ACTIVITIES | (600) | (511) |
| FINANCING ACTIVITIES | ||
| Proceeds from revolving credit facility | 51,484 | 18,357 |
| Repayments of revolving credit facility | (70,822) | (8,680) |
| Payments for finance lease obligations | (7) | (7) |
| Payments of tax withholding for stock based compensation | (1,028) | (439) |
| Payments for stock repurchase | — | (2,539) |
| Cash dividends paid | (1,026) | (985) |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (21,399) | 5,707 |
| Effect of foreign exchange on cash | (64) | 59 |
| (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (11,550) | 17,360 |
| Cash and cash equivalents at beginning of period | 16,189 | 23,598 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $4,639 | $40,958 |
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