Luvu Brands Inc. (OTCMKTS:LUVU) fell 5% after the company announced that it would release fiscal Q1 2021earnings results for the quarter ending September 30, 2021, on November 15, 2021.
On Wednesday, LUVU stock fell 5.26% at $0.21 with more than 68k shares, compared to its average volume of 120k shares. The stock has moved within a range of $0.2000 – 0.2212 after opening the trade $0.2212.
The company designs, produces, and sells a range of consumer lifestyle products through online mass merchants, specialty retail locations globally, and its websites. Its main brands include Liberator, which is a brand for popular sexual performance-enhancing products, Jaxx brand, which offers an assortment of fashion sofas, beanbags, and daybeds manufactured from recycled polyurethane foam and Avana brand, which offers included bed therapy solutions that aid in relieving medical problems related with chronic pain, surgery recovery and acid reflux.
In the fiscal fourth quarter of 2021, the company reported net sales of $5.8 million with a record full-year revenue of $23.1 million. Net sales grew 26% YoY while gross profit was up 145 to $6.3 million. The company has a net income of $2.6 million or $0.03 per share. Ahead of the fiscal Q1 2022 results, investors should watch LUVU.
Louis Friedman, Chairman and Chief Executive Officer, commented, “Fiscal 2021 was a pivotal year for the Company. We reported record net sales and net income, our balance sheet has improved, we acquired over $1 million in additional production equipment, and being a vertically integrated US-based manufacturer, we have been able to successfully avoid many of the supply chain problems facing most other manufacturers.”
LUVU stock is trading below the 20-Day and 50-Day Moving averages of $0.25 and $0.33. Moreover, the stock is trading below the 200-Day moving average of $0.25. The stock is down 40% over the past month.