Brief: Tile Shop Holdings Inc posts Qtrly Earnings Per Share of $0.03

Tile Shop Holdings

30/04/2019 12:21

April 30 (Reuters) - Tile Shop Holdings Inc  TTS.O :
    * THE TILE SHOP REPORTS FIRST QUARTER 2019 RESULTS;
ANNOUNCES $15
MILLION SHARE REPURCHASE PROGRAM; DECLARES CASH DIVIDEND
    * QTRLY COMPARABLE STORE SALES DECREASED 4.2%
    * QTRLY EARNINGS PER SHARE $0.03
    * QTRLY NET SALES $86.9 MILLION VERSUS $91.1 MILLION
    * Q1 EARNINGS PER SHARE VIEW $0.07, REVENUE VIEW $93.3
MILLION --
REFINITIV IBES DATA
    * TILE SHOP - REPURCHASE PROGRAM WILL BEGIN ON MAY 2, WILL
CONTINUE UNTIL FULL REPURCHASE AMOUNT HAS BEEN UTILIZED OR BOARD
TERMINATES PROGRAM
    * QUARTER-END INVENTORY INCREASED 0.6% TO $110.8 MILLION
FROM
$110.1 MILLION AT END OF Q4 OF 2018
    * TILE SHOP - EXPECTS TO REPORT 2 MATERIAL WEAKNESSES IN
INTERNAL
CONTROLS OVER FINANCIAL REPORTING ARISING FROM ERP THAT TOOK
PLACE ON JAN 1
    * TILE SHOP - MATERIAL WEAKNESSES RELATE TO INEFFECTIVE
DESIGN AND
IMPLEMENTATION OF CONTROLS WITH RESPECT TO ERP SYSTEM CONVERSION
    * TILE SHOP - MATERIAL WEAKNESSES RELATE TO INEFFECTIVE
DESIGN OF
IT GENERAL CONTROLS FOR INFORMATION SYSTEMS THAT ARE RELEVANT
FOR PERPARING FINANCIAL STATEMENTS
    * EXPECTS THAT REMEDIATION OF THESE MATERIAL WEAKNESSES WILL
BE
COMPLETED PRIOR TO END OF FISCAL 2019.

Source text for Eikon:  ID:nGNX9fbpbw 
Further company coverage:  TTS.O 

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