THE WALKING COMPANY HOLDINGS, INC. AND SUBSIDIARIES
(FKA BIG DOG HOLDINGS, INC. AND SUBSIDIARIES)
CONSOLIDATED STATEMENTS OF OPERATIONS
YEARS ENDED DECEMBER 31 | ||||||||
2008 | 2007 | |||||||
NET SALES | $ | 229,930,000 | ) | $ | 206,335,000 | ) | ||
COST OF GOODS SOLD | 117,455,000 | ) | 98,432,000 | ) | ||||
GROSS PROFIT | 112,475,000 | ) | 107,903,000 | ) | ||||
OPERATING EXPENSES: | ||||||||
Selling, marketing and distribution | 107,342,000 | ) | 95,063,000 | ) | ||||
General and administrative | 10,513,000 | ) | 10,799,000 | ) | ||||
Total operating expenses | 117,855,000 | ) | 105,862,000 | ) | ||||
(LOSS) INCOME FROM OPERATIONS | (5,380,000 | ) | 2,041,000 | |||||
INTEREST INCOME | (2,000 | ) | (10,000 | ) | ||||
INTEREST EXPENSE (Notes 5 and 6) | 4,157,000 | 4,255,000 | ||||||
LOSS BEFORE BENEFIT FROM INCOME TAXES | (9,535,000 | ) | (2,204,000 | ) | ||||
BENEFIT FROM INCOME TAXES (Note 7) | (2,288,000 | ) | (849,000 | ) | ||||
LOSS FROM CONTINUING OPERATIONS | (7,247,000 | ) | (1,355,000 | ) | ||||
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX BENEFIT (Note 8) | (2,926,000 | ) | (2,101,000 | ) | ||||
NET LOSS | $ | (10,173,000 | ) | $ | (3,456,000 | ) | ||
NET LOSS PER SHARE: | ||||||||
Continuing operations | (0.76 | ) | (0.15 | ) | ||||
Discontinued operations | (0. 31 | ) | (0.22 | ) | ||||
BASIC AND DILUTED | $ | (1.07 | )) | $ | (0.37 | )) |