The Bowser Report Presents Horatio Alger Award to Tandy Leather Factory |
FORT WORTH, Texas--(BUSINESS WIRE)--Dec. 26, 2006--Tandy Leather Factory, Inc. (AMEX:TLF) was chosen by The Bowser Report to be its first recipient of the "Microcap Horatio Alger Award." R. Max Bowser, editor and publisher of the newsletter said, "Tandy Leather Factory was chosen because it started from relatively humble beginnings to become the leading force in the leathercraft industry. This is very much in the style of the nineteenth century writer of boys' books, Horatio Alger. Mr. Alger urged boys to succeed despite obstacles in their way." There is no connection between this award and those granted by the non-profit Horatio Alger Association.
As reported in The Bowser Report announcing the award, the roots of Tandy Leather Factory go back to the early 1980's. However, it wasn't until recently that the company's growth has picked up speed. In 2001, TLF's annual revenue was $37 million, its annual earnings were $2.0 million, and it operated 30 wholesale centers and no retail stores. In 2005, TLF's earnings were $3.7 million on annual revenue was $50.7 million. Currently, the company owns 62 retail stores and 29 wholesale centers in the U.S. and Canada. Editor Bowser wrote that Chief Executive Officer Wray Thompson, a co-founder of the company, runs a tight ship with a small corporate headquarters staff, and expansion has been financed with cash flow while at the same time, long-term debt has been eliminated.
Chairman and Chief Executive Officer, Wray Thompson, commented, "We are honored to be the recipient of this inaugural award by The Bowser Report. It is rewarding to be recognized for our hard work and successes."
The Bowser Report is now in its 31st year and throughout those years, it has only recommended stocks $3 per share and less. TLF's stock was trading at $2.45 per share when it was featured as the newsletter's Company of the Month in February 2002. In 2005, The Bowser Report was named one of the top ten investment newsletters in the U.S. It is supported by subscribers located in the U.S. and 13 foreign countries.
Tandy Leather Factory, Inc. (http://www.tandyleather.com), headquartered in Fort Worth, Texas, is a specialty retailer and wholesale distributor of a broad product line including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products as The Leather Factory through its wholesale centers and as Tandy Leather Company through its retail stores. Its common stock trades on the American Stock Exchange with the symbol "TLF".
This news release may contain forward-looking statements. All forward-looking statements made here or in other news releases issued by Tandy Leather Factory, Inc. are based on current expectations as of the date of the release. These forward-looking statements involve risks and uncertainties that could cause the results of Tandy Leather Factory, Inc. to differ materially from management's current expectations. Many of these risks and uncertainties are detailed from time to time in TLF's reports filed with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and the most recent quarterly report on Form 10-Q. Investors are reminded that past performance may not be predictive of future results.
CONTACT: Tandy Leather Factory, Inc.
Wray Thompson, 817-496-4414
or
Shannon L. Greene, 817-496-4414
sgreene@leatherfactory.com
SOURCE: Tandy Leather Factory, Inc.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Tandy Leather Factory, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
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Dec 26, 2006 |
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