Rochester, NY 6/26/2009 3:04:38 AM
Afternoon Report - TLF - New Ceo of Tandy Leather Factory Jon Thompson - Sourced WhisperFromWallStreet.com
Tandy Leather Factory, Inc.
End of Day Report - TLF - New Ceo of Tandy Leather Factory Jon Thompson - Sourced WhisperFromWallStreet.com
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TANDY LEATHER FCTRY,TLF
Tandy Leather Factory, Inc. (NYSE Amex: TLF) announced today that the company’s board of directors has elected Jon Thompson as Chief Executive Officer effective July 1, 2009. As previously announced, he is replacing Ron Morgan who is retiring effective June 30, 2009. Mr. Thompson will continue to hold the position of President and Chief Operating Officer of the company, in addition to his new duties as CEO. Mr. Morgan commented, I am confident that the transition to Jon from me as Chief Executive Officer will be an easy one. Jon has the necessary experience and knowledge to run this company successfully, plus he has the support of two of the industry’s top professionals, Shannon Greene, our CFO, and Mark Angus, our Senior Vice President. During the toughest economic times since the Great Depression, the hard working men and women of Tandy Leather Factory have stood against the popular theory that ‘less bad is the new good’. Instead, Tandy Leather Factory operates under the old-fashioned belief that producing sales, growing earnings and making money is the only measure of improvement. In spite of the economy, the company has improved earnings 3 of the last 4 quarters over the prior year and I fully expect it will continue to do so in the future under Jon’s leadership.
About
Tandy Leather Factory, Inc. operates as a retailer and wholesale distributor of leather and related products in the United States, Canada, and the United Kingdom. The companys products include leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. It also manufactures leather lacing and kits. The company operates in four segments: Wholesale Leathercraft, Retail Leathercraft, International Leathercraft, and Other. The Wholesale Leathercraft segment consists of a chain of warehouse distribution units operating under the name, The Leather Factory, located in North America. This segment operates 30 company-owned wholesale stores.
Last Trade: 2.30
Day's Range: N/A - N/A
52wk Range: 1.55 - 3.13
Volume: 0
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