LIFETIME BRANDS INC
For the period ended Sep 30, 2024. Filed Nov 7, 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.
Sep 30, 2024 · Filed Nov 7, 2024
LCUT$7.98+6.6%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows (unaudited) –
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands) (unaudited)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| OPERATING ACTIVITIES | ||
| Net loss | $(24,083) | $(11,119) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization | 16,241 | 14,616 |
| Amortization of financing costs | 2,195 | 1,397 |
| Mark to market loss on interest rate derivatives | 1,184 | 135 |
| Operating leases, net | (1,476) | (1,617) |
| (Recovery) provision for doubtful accounts | (241) | 2,193 |
| Deferred income taxes | 144 | 5 |
| Stock compensation expense | 2,886 | 2,770 |
| Equity in losses, net of taxes | 2,092 | 9,687 |
| Contingent consideration fair value adjustments | — | (50) |
| Gain on extinguishments of debt, net | — | (1,520) |
| Loss on equity securities | 14,152 | — |
| Changes in operating assets and liabilities | ||
| Accounts receivable | 13,859 | (14,279) |
| Inventory | (44,821) | 4,828 |
| Prepaid expenses, other current assets and other assets | 2,929 | 1,784 |
| Accounts payable, accrued expenses and other liabilities | 16,759 | 9,615 |
| Income taxes receivable | (2,894) | (1,254) |
| Income taxes payable | (663) | (230) |
| NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | (1,737) | 16,961 |
| INVESTING ACTIVITIES | ||
| Purchases of property and equipment | (1,604) | (1,765) |
| NET CASH USED IN INVESTING ACTIVITIES | (1,604) | (1,765) |
| FINANCING ACTIVITIES | ||
| Proceeds from revolving credit facility | 180,725 | 69,954 |
| Repayments of revolving credit facility | (177,984) | (51,123) |
| Repayments of term loan | (5,625) | (44,866) |
| Payment of financing costs | — | (433) |
| Payments for finance lease obligations | (22) | (20) |
| Payments of tax withholding for stock based compensation | (1,083) | (537) |
| Payments for stock repurchase | — | (2,539) |
| Cash dividends paid | (2,893) | (2,832) |
| NET CASH USED IN FINANCING ACTIVITIES | (6,882) | (32,396) |
| Effect of foreign exchange on cash | 18 | (80) |
| DECREASE IN CASH AND CASH EQUIVALENTS | (10,205) | (17,280) |
| Cash and cash equivalents at beginning of period | 16,189 | 23,598 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $5,984 | $6,318 |
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