Earnings Results to Track: LightInTheBox Holding Co. (NYSE: LITB)

On Wednesday, Shares of LightInTheBox Holding Co. (NYSE: LITB) showed no change and ended its trading session at $1.12. The company traded total volume of 5,851 shares as contrast to its average volume of 64.49K shares. The company has a market value of $75.98M and about 67.84M shares outstanding.

LightInTheBox Holding Co., Ltd. (LITB), a global online retail company that delivers products directly to consumers around the world, recently declared its unaudited financial results for the second quarter of 2018.

Second Quarter 2018 Financial Results:

Net revenues reduced 29.4% year-over-year to $55.40M from $78.50M in the same quarter of 2017. Net revenues from product sales were $52.00M, contrast with $73.70M in the same quarter of 2017. Net revenues from service and others were $3.40M, contrast with $4.80M in the same quarter of 2017. As a percentage of net revenues, service and others accounted for 6.1% during the second quarter of 2018.

Total orders of product sales were 0.90M during the second quarter of 2018, contrast with 1.70M in the same quarter of 2017. Total number of customers for product sales was 0.70M for the second quarter of 2018, contrast with 1.40M in the same quarter of 2017.

Product sales in the apparel category were $18.70M for the second quarter of 2018, contrast with $27.00M in the same quarter of 2017. As a percentage of product sales, apparel revenues accounted for 36.0% for the second quarter of 2018, contrast with 36.6% in the same quarter of 2017. Product sales from other general merchandise were $33.30M for the second quarter of 2018.

Product sales in Europe were $24.90M for the second quarter of 2018, contrast with $37.40M in the same quarter of 2017, representing 47.8% of total product sales for the second quarter of 2018. Product sales in North America were $10.60M, contrast with $19.20M in the same quarter of 2017, representing 20.4% of total product sales for the second quarter of 2018. Product sales in Gulf Cooperation Council (“GCC”) countries were $3.30M for the second quarter of 2018, contrast with $0.30M in the same quarter of 2017, representing 6.4% of total product sales for the second quarter of 2018, while product sales in other countries were $13.20M, representing 25.4% of total product sales for the same quarter.

Total cost of revenues was $41.40M in the second quarter of 2018, contrast with $50.90M in the same period of 2017. Cost for product sales was $38.20M in the second quarter of 2018, contrast with $46.20M in the same period of 2017. Cost for service and others was $3.20M in the second quarter of 2018, contrast with $4.70M in the same period of 2017.

Gross profit for the second quarter of 2018 was $14.00M, contrast with $27.60Min the same period of 2017. Gross margin was 25.4% in the second quarter of 2018, contrast with 35.2% in the same quarter of 2017.

Total operating expenses in the second quarter of 2018 were $23.70M, contrast with $29.60M in the same quarter of 2017.

  • Fulfillment expenses in the second quarter of 2018 were $3.70M, contrast with $4.30M in the same quarter of 2017. As a percentage of total net revenues, fulfillment expenses were 6.7% for the second quarter of 2018, contrast to 5.5% in the same quarter of 2017 and 6.4% in the first quarter of 2018.
  • Selling and marketing expenses in the second quarter of 2018 were $11.30M, contrast with $18.10M in the same quarter of 2017. As a percentage of total net revenues, selling and marketing expenses were 20.4% for the second quarter of 2018, contrast to 23.1% in the same quarter of 2017 and 23.0% in the first quarter of 2018.
  • General and administrative (G&A) expenses in the second quarter of 2018 were $8.70M, contrast with $7.20M in the same quarter of 2017. As a percentage of total net revenues, G&A expenses were 15.7% for the second quarter of 2018, contrast with 9.1% in the same quarter of 2017 and 11.4% in the first quarter of 2018. G&A expenses in the second quarter of 2018 included $2.80M in technology investments, contrast with $2.70M in the same quarter of 2017.

Loss from operations was $9.70M in the second quarter of 2018, contrast with a loss from operations of $2.00M in the same quarter of 2017.

Net loss was $9.50M in the second quarter of 2018, contrast with a net loss of $1.80M in the same quarter of 2017.

As of June 30, 2018, the Company had cash and cash equivalents and restricted cashof $41.70M, contrast with $54.60M as of March 31, 2018.

The Company offered net profit margin of -7.70% while its gross profit margin was 30.00%. ROE was recorded as -46.20% while beta factor was 0.64. The stock, as of recent close, has shown the weekly downbeat performance of -7.44% which was maintained at -51.30% in this year.

Chad Pitman

Chad Pitman

I am Chad Pitman and I focus on breaking news stories and ensuring we (“Stocks Market Cap”) offer timely reporting on some of the most recent stories released through market wires about “Emerging Stocks”. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for stocksmarketcap.com specializing in quicker moving active shares with a short term view on investment opportunities and trends.

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