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Tandy Leather Factory, Inc. Says No 2009 Guidance for Now

^{Published on 2008-12-15 17:18:55 - Market Wire}
 

FORT WORTH, Texas--([ BUSINESS WIRE ])--Tandy Leather Factory, Inc. (AMEX: TLF) announced today that it will not be providing 2009 revenue and EPS guidance at this time.

Ron Morgan, Chief Executive Officer, commented, "We fully expect to be profitable in 2009, but given the instability of the economy and the magnitude of the flailing retail industry, we believe that any guidance we would provide would be a guess at best. We have also noted that, no matter the market capitalization or what wares they sell, retail chains continue to miss their announced revenues and EPS, and therefore, more often than not, lower guidance again and again. We see no upside to our shareholders in following suit."

Shannon Greene, Chief Financial Officer, added, "The list of retailers filing for bankruptcy and/or closing stores continues to grow. As we have stated previously, we are convinced that we are financially positioned in such a way that we will not be added to that list. We have more than ample cash to weather the economic storms at this time."

Tandy Leather Factory, Inc., ([ http://www.tandyleatherfactory.com ]), headquartered in Fort Worth, Texas, is a specialty retailer and wholesale distributor of a broad product line including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products through its 29 Leather Factory stores, located in 19 states and 3 Canadian provinces, 73 Tandy Leather retail stores, located in 35 states and 5 Canadian provinces, one combination wholesale/retail store located in the United Kingdom, and Mid-Continent Leather Sales, one store located in Oklahoma. Its common stock trades on the American Stock Exchange with the symbol "TLF". To be included on Tandy Leather Factory's email distribution list, go to [ http://www.b2i.us/irpass.asp?BzID=1625&to=ea&s=0 ].

This news release may contain forward-looking statements.All forward-looking statements made here or in other news releases issued by Tandy Leather Factory, Inc. are based on current expectations as of the date of the release.These forward-looking statements involve risks and uncertainties that could cause the results of Tandy Leather Factory, Inc. to differ materially from management's current expectations.Many of these risks and uncertainties are detailed from time to time in TLF's reports filed with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and the most recent quarterly report on Form 10-Q.Investors are reminded that past performance may not be predictive of future results.