LightInTheBox Slips To Loss In Q1 - Quick Facts

(RTTNews) - LightInTheBox Holding Co., Ltd. (LITB) said that its net loss attributable to ordinary shareholders for the the first quarter of 2014 was $9.23 million, compared to a net income of $1.67 million in the same quarter of 2013. Net loss per ADS was $0.19, compared to net income per ADS of $0.05 in the first quarter of 2013. Each ADS represents two ordinary shares.

Adjusted loss from operations , which excludes the impact of share-based compensation expense of $1.4 million, was $7.2 million in the first quarter of 2014, compared to an adjusted income from operations of $3.6 million in the first quarter of 2013.

Adjusted net loss was $7.8 million, compared to an adjusted net income of $3.0 million in the first quarter of 2013. Adjusted net loss was $0.16 per ADS, compared to adjusted net income of $0.06 per ADS in the previous year.

Net revenues were $81.5 million, an increase of 11.2% from $73.3 million in the same quarter of 2013. The increases in the quarter were driven by the recovery of the Company's wedding business, continued strong performance from ready-to-wear apparel, as well as the increasing contribution of its mobile commerce business.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.10 per share and revenues of $79.69 million for the quarter. Analysts' estimates typically exclude special items.

Total orders grew 40.9% to 2.0 million in the first quarter, while average order size declined based on changes in the product mix. The total number of customer who made a purchase in the quarter increased 34.3% to 1.5 million, while repeat customer orders accounted for 33.5% of the total revenue, compared to 29.6% in the same quarter of 2013.

For the second quarter of 2014, the Company expects its net revenues to be between $84 million and $86 million, representing a year-over-year growth rate of approximately 16% to 19%. Analysts expect the company to report revenues of $83.13 million for the second quarter.

Although the Company does not issue guidance on profitability, it does expect its adjusted loss from operations to improve sequentially in the second quarter of 2014, compared to the first quarter of 2014.