CACHE, INC. AND SUBSIDIARIES | ||||||||||||
CONSOLIDATED BALANCE SHEETS | ||||||||||||
July 2, | January 1, | July 3, | ||||||||||
ASSETS | 2011 | 2011 | 2010 | |||||||||
Current assets: | ||||||||||||
Cash and equivalents | $ 8,706,000 | $ 4,609,000 | $ 3,742,000 | |||||||||
Marketable securities | 15,613,000 | 20,923,000 | 24,665,000 | |||||||||
Certificate of deposits - restricted | 3,000,000 | 2,500,000 | 2,500,000 | |||||||||
Receivables, net | 2,426,000 | 2,855,000 | 2,614,000 | |||||||||
Income tax receivable, net | 50,000 | 50,000 | 81,000 | |||||||||
Inventories, net | 18,350,000 | 15,789,000 | 20,408,000 | |||||||||
Prepaid expenses and other current assets | 4,787,000 | 5,029,000 | 6,370,000 | |||||||||
Total current assets | 52,932,000 | 51,755,000 | 60,380,000 | |||||||||
Equipment and leasehold improvements, net | 21,716,000 | 24,753,000 | 28,204,000 | |||||||||
Goodwill | - | - | 9,092,000 | |||||||||
Intangible assets, net | 102,000 | 102,000 | 102,000 | |||||||||
Other assets | 8,176,000 | 9,380,000 | 5,249,000 | |||||||||
Total assets | $ 82,926,000 | $ 85,990,000 | $ 103,027,000 | |||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||
Current liabilities: | ||||||||||||
Accounts payable | $ 6,465,000 | $ 8,273,000 | $ 7,547,000 | |||||||||
Note payable | 1,455,000 | 1,518,000 | 1,569,000 | |||||||||
Accrued compensation | 2,414,000 | 2,551,000 | 2,354,000 | |||||||||
Accrued liabilities | 9,062,000 | 11,150,000 | 8,848,000 | |||||||||
Total current liabilities | 19,396,000 | 23,492,000 | 20,318,000 | |||||||||
Note payable | - | 319,000 | 630,000 | |||||||||
Other liabilities | 12,922,000 | 13,867,000 | 14,736,000 | |||||||||
Commitments and contingencies | ||||||||||||
STOCKHOLDERS' EQUITY | ||||||||||||
Common stock | 165,000 | 165,000 | 164,000 | |||||||||
Additional paid-in capital | 48,284,000 | 48,015,000 | 47,799,000 | |||||||||
Retained earnings | 41,954,000 | 39,927,000 | 59,175,000 | |||||||||
Treasury stock, at cost | (39,795,000 | ) | (39,795,000 | ) | (39,795,000 | ) | ||||||
Total stockholders' equity | 50,608,000 | 48,312,000 | 67,343,000 | |||||||||
Total liabilities and stockholders' equity | $ 82,926,000 | $ 85,990,000 | $ 103,027,000 | |||||||||
CACHE, INC. AND SUBSIDIARIES | ||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||
26 Weeks Ended | 26 Weeks Ended |
July 2, | July 3, |
2011 | 2010 | |||||||||||
Net sales | $ 112,365,000 | $ 105,125,000 | ||||||||||
Cost of sales, including buying and occupancy | 62,930,000 | 63,477,000 | ||||||||||
Gross profit | 49,435,000 | 41,648,000 | ||||||||||
Expenses | ||||||||||||
Store operating expenses | 37,533,000 | 37,807,000 | ||||||||||
General and administrative expenses | 9,003,000 | 9,015,000 | ||||||||||
Total expenses | 46,536,000 | 46,822,000 | ||||||||||
Operating income (loss) | 2,899,000 | (5,174,000) | ||||||||||
Other income (expense): | ||||||||||||
Interest expense | (31,000 | ) | (67,000 | ) | ||||||||
Interest income | 44,000 | 85,000 | ||||||||||
Income (loss) before income taxes | 2,912,000 | (5,156,000 | ) | |||||||||
Income tax provision (benefit) | 885,000 | (1,972,000 | ) | |||||||||
Net income (loss) | $ 2,027,000 | $ (3,184,000 | ) | |||||||||
Basic income (loss) per share | $ 0.16 | $ (0.25 | ) | |||||||||
Diluted income (loss) per share | $ 0.16 | $ (0.25 | ) | |||||||||
Basic weighted average shares outstanding | 12,822,000 | 12,771,000 | ||||||||||
Diluted weighted average shares outstanding | 12,861,000 | 12,771,000 | ||||||||||
CACHE, INC. AND SUBSIDIARIES | ||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||
13 Weeks Ended | 13 Weeks Ended | |||||||||||
July 2, | July 3, | |||||||||||
2011 | 2010 | |||||||||||
Net sales | $ 60,266,000 | $ 56,575,000 | ||||||||||
Cost of sales, including buying and occupancy | 32,752,000 | 31,642,000 | ||||||||||
Gross profit | 27,514,000 | 24,933,000 | ||||||||||
Expenses | ||||||||||||
Store operating expenses | 19,396,000 | 19,148,000 | ||||||||||
General and administrative expenses | 3,959,000 | 4,341,000 | ||||||||||
Total expenses | 23,355,000 | 23,489,000 | ||||||||||
Operating income | 4,159,000 | 1,444,000 | ||||||||||
Other income (expense): | ||||||||||||
Interest expense | (13,000 | ) | (32,000 | ) | ||||||||
Interest income | 23,000 | 41,000 | ||||||||||
Income before income taxes | 4,169,000 | 1,453,000 | ||||||||||
Income tax provision | 1,370,000 | 556,000 | ||||||||||
Net income | $ 2,799,000 | $ 897,000 | ||||||||||
Basic income per share | $ 0.22 | $ 0.07 | ||||||||||
Diluted income per share | $ 0.22 | $ 0.07 | ||||||||||
Basic weighted average shares outstanding | 12,827,000 | 12,771,000 | ||||||||||
Diluted weighted average shares outstanding | 12,873,000 | 12,809,000 |