Tandy Leather Factory Inc was chosen by The Bowser Report to be its first recipient of the "Microcap Horatio Alger Award." R. Max Bowser, editor and publisher of the newsletter said, "Tandy Leather Factory was chosen because it started from relatively humble beginnings to become the leading force in the leathercraft industry.”
“This is very much in the style of the nineteenth century writer of boys' books, Horatio Alger. Mr. Alger urged boys to succeed despite obstacles in their way." There is no connection between this award and those granted by the non-profit Horatio Alger Association.
As reported in The Bowser Report announcing the award, the roots of Tandy Leather Factory go back to the early 1980's. However, it wasn't until recently that the company's growth has picked up speed.
In 2001, TLF's annual revenue was $37 million, its annual earnings were $2.0 million, and it operated 30 wholesale centers and no retail stores. In 2005, TLF's earnings were $3.7 million on annual revenue was $50.7 million.
Currently, the company owns 62 retail stores and 29 wholesale centers in the U.S. and Canada. Editor Bowser wrote that Chief Executive Officer Wray Thompson, a co-founder of the company, runs a tight ship with a small corporate headquarters staff, and expansion has been financed with cash flow while at the same time, long-term debt has been eliminated.
Chairman and Chief Executive Officer, Wray Thompson, commented, "We are honored to be the recipient of this inaugural award by The Bowser Report. It is rewarding to be recognized for our hard work and successes."
The Bowser Report is now in its 31st year and throughout those years, it has only recommended stocks $3 per share and less. TLF's stock was trading at $2.45 per share when it was featured as the newsletter's Company of the Month in February 2002.
In 2005, The Bowser Report was named one of the top ten investment newsletters in the U.S. It is supported by subscribers located in the U.S. and 13 foreign countries.
Tandy Leather Factory Inc
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