Luvu Brands Inc. (OTCMKTS:LUVU) is up 20% in a week after announcing fiscal Q4 and full-year 2021 financial results. For the fiscal year ended June 30, net sales were up 26% to $23.1 million. Total gross profit was up 14% YoY to $6.3 million, with gross profit as a proportion of net sales decreasing from 30% the previous year to 27%. The company reported a net income of $2.6 million or $0.03 per share relative to $0.86 million or $0.01 a year ago.
For fiscal Q4, the company’s net sales were up 7% to $5.8 million. In the quarter ended June 30, 2020, net sales included $780,000 from the sales of PPE products. Minus non-recurring PPE sales, the company’s comparable QoQ sales were up 25%.
Total gross profit was $1.5 million, a drop from $301,000 from a year ago. Net income was $300,000 or $o.00 per share relative to net income of $796,000 or $0.01 per share in Q4 2020. With the exceptional financial results, LUVU is worth keeping an eye on.
Market Reaction:
On Tuesday, LUVU stock went down 10% at $0.46 with more than 291K shares, compared to its average volume of 90K shares. The stock has moved within a range of $0.3625 – 0.5500 after opening the trade at $0.53.
