Cache 8-K Cache Reports Third Quarter Fiscal 2011 Results

CACHE, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

		October 1,			January 1,			October 2,
ASSETS		2011			2011			2010
Current assets:
Cash and equivalents		$	13,816,000		$	4,609,000		$	2,483,000
Marketable securities			7,563,000			20,923,000			21,865,000
Certificate of deposits - restricted			3,000,000			2,500,000			2,500,000
Receivables, net			2,304,000			2,855,000			2,020,000
Income tax receivable, net			-			50,000			81,000
Inventories, net			22,232,000			15,789,000			19,243,000
Prepaid expenses and other current assets			5,323,000			5,029,000			6,041,000
	Total current assets		54,238,000			51,755,000			54,233,000
Equipment and leasehold improvements, net			20,651,000			24,753,000			26,836,000
Goodwill			-			-			9,092,000
Intangible assets, net			102,000			102,000			102,000
Other assets			9,380,000			9,380,000			7,965,000
	Total assets	$	84,371,000		$	85,990,000		$	98,228,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable		$	11,777,000		$	8,273,000		$	8,949,000
Note payable			1,463,000			1,518,000			1,751,000
Accrued compensation			1,306,000			2,551,000			1,222,000
Accrued liabilities			8,697,000			11,150,000			9,321,000
	Total current liabilities		23,243,000			23,492,000			21,243,000
Note payable			-			319,000			476,000
Other liabilities			12,280,000			13,867,000			14,103,000
Commitments and contingencies
STOCKHOLDERS' EQUITY
Common stock			165,000			165,000			165,000
Additional paid-in capital			48,346,000			48,015,000			47,888,000
Retained earnings			40,132,000			39,927,000			54,148,000
Treasury stock, at cost			(39,795,000	)		(39,795,000	)		(39,795,000	)
	Total stockholders' equity		48,848,000			48,312,000			62,406,000
	Total liabilities and stockholders' equity	$	84,371,000		$	85,990,000		$	98,228,000

CACHE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

	39 Weeks Ended			39 Weeks Ended
	October 1,			October 2,
	2011			2010
Net sales	$	161,024,000		$	150,649,000
Cost of sales, including buying and occupancy		91,829,000			93,099,000
Gross profit		69,195,000			57,550,000
Expenses
Store operating expenses		55,996,000			55,766,000
General and administrative expenses		13,342,000			15,048,000
Total expenses		69,338,000			70,814,000
Operating loss		(143,000	)		(13,264,000	)
Other income (expense):
Interest expense		(38,000	)		(94,000	)
Interest income		68,000			117,000
Loss before income taxes		(113,000	)		(13,241,000	)
Income tax benefit		(318,000	)		(5,030,000	)
Net income (loss)	$	205,000		$	(8,211,000	)
Basic income (loss) per share	$	0.02		$	(0.64	)
Diluted income (loss) per share	$	0.02		$	(0.64	)
Basic weighted average shares outstanding		12,831,000			12,774,000
Diluted weighted average shares outstanding		12,859,000			12,774,000

CACHE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

	13 Weeks Ended			13 Weeks Ended
	October 1,			October 2,
	2011			2010
Net sales	$	48,659,000		$	45,524,000
Cost of sales, including buying and occupancy		28,899,000			29,622,000
Gross profit		19,760,000			15,902,000
Expenses
Store operating expenses		18,463,000			17,959,000
General and administrative expenses		4,339,000			6,033,000
Total expenses		22,802,000			23,992,000
Operating loss		(3,042,000	)		(8,090,000	)
Other income (expense):
Interest expense		(7,000	)		(27,000	)
Interest income		24,000			32,000
Loss before income taxes		(3,025,000	)		(8,085,000	)
Income tax benefit		(1,203,000	)		(3,058,000	)
Net loss	$	(1,822,000	)	$	(5,027,000	)
Basic loss per share	$	(0.14	)	$	(0.39	)
Diluted loss per share	$	(0.14	)	$	(0.39	)
Basic weighted average shares outstanding		12,849,000			12,780,000
Diluted weighted average shares outstanding		12,849,000			12,780,000