Lightinthebox Holding Delivers Better-Than-Guided Range Of Q4 Revenue

Lightinthebox Holding Co Ltd-ADR LITB said its net revenues of $87.5 million for the fourth quarter topped its guidance range of $81.0 - $83.0 million. According to the company, the non-GAAP net revenue was $95.9 million for the same period.

Lightinthebox Holding said it was able to deliver adjusted net income of $5.5 million for the fourth quarter compared to an adjusted loss of $0.5 million in the year-ago quarter. On a GAAP basis, the loss was narrower at $3.5 million than $8.8 million in the preceding year quarter.

The company said its adjusted gross margin advanced to 40.9 percent from 39.5 percent, while GAAP improved modestly to 35.3 percent from 35.2 percent. Chairman and CEO Alan Guo said, "We made significant progress in further improving our operational efficiency during the quarter, which, as expected, resulted in a substantially improved bottom line. We are also pleased to see our revenue exceed guidance due to strong sales during the Christmas holiday season. As a more recent development, we are very pleased to welcome Zall Development as a strategic partner."

Moving ahead for the first quarter, Lightinthebox Holding expects net revenues of $65-$67.0 million reflecting its current views on the market.