CACHE, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS | ||||||
December 31, | January 1, | |||||
ASSETS | 2011 | 2011 | ||||
Current assets: | ||||||
Cash and equivalents | $ 22,509,000 | $ 4,609,000 | ||||
Marketable securities | 4,008,000 | 20,923,000 | ||||
Certificate of deposits - restricted | 3,000,000 | 2,500,000 | ||||
Receivables, net | 3,403,000 | 2,855,000 | ||||
Income tax receivable, net | 162,000 | 50,000 | ||||
Inventories, net | 22,075,000 | 15,789,000 | ||||
Prepaid expenses and other current assets | 1,572,000 | 5,029,000 | ||||
Total current assets | 56,729,000 | 51,755,000 | ||||
Equipment and leasehold improvements, net | 18,937,000 | 24,753,000 | ||||
Intangible assets, net | 102,000 | 102,000 | ||||
Other assets | 8,877,000 | 9,380,000 | ||||
Total assets | $ 84,645,000 | $ 85,990,000 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
Current liabilities: | ||||||
Accounts payable | $ 9,565,000 | $ 8,273,000 | ||||
Note payable | - | 1,518,000 | ||||
Accrued compensation | 2,579,000 | 2,551,000 | ||||
Accrued liabilities | 10,217,000 | 11,150,000 | ||||
Total current liabilities | 22,361,000 | 23,492,000 | ||||
Note payable | - | 319,000 | ||||
Other liabilities | 11,487,000 | 13,867,000 | ||||
Commitments and contingencies | ||||||
STOCKHOLDERS' EQUITY | ||||||
Common stock | 165,000 | 165,000 | ||||
Additional paid-in capital | 48,419,000 | 48,015,000 | ||||
Retained earnings | 42,008,000 | 39,927,000 | ||||
Treasury stock, at cost | (39,795,000) | (39,795,000) | ||||
Total stockholders' equity | 50,797,000 | 48,312,000 | ||||
Total liabilities and stockholders' equity | $ 84,645,000 | $ 85,990,000 |
CACHE, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
52 Weeks Ended | 52 Weeks Ended | |||||||
December 31, | January 1, | |||||||
2011 | 2011 | |||||||
Net sales | $ | 223,880,000 | $ | 206,519,000 | ||||
Cost of sales, including buying and occupancy | 127,461,000 | 127,662,000 | ||||||
Gross profit | 96,419,000 | 78,857,000 | ||||||
Expenses | ||||||||
Store operating expenses | 76,024,000 | 75,901,000 | ||||||
General and administrative expenses | 17,428,000 | 19,987,000 | ||||||
Impairment charges | 719,000 | 10,066,000 | ||||||
Total expenses | 94,171,000 | 105,954,000 | ||||||
Operating income (loss) | 2,248,000 | (27,097,000 | ) | |||||
Other income (expense): | ||||||||
Interest expense | (70,000 | ) | (117,000 | ) | ||||
Interest income | 87,000 | 143,000 | ||||||
Income (loss) before income taxes | 2,265,000 | (27,071,000 | ) | |||||
Income tax provision (benefit) | 184,000 | (4,639,000 | ) | |||||
Net income (loss) | $ | 2,081,000 | $ | (22,432,000 | ) | |||
Basic earnings (loss) per share | $ | 0.16 | $ | (1.76) |
Diluted earnings (loss) per share | $ | 0.16 | $ | (1.76) | ||||
Basic weighted average shares outstanding | 12,838,000 | 12,779,000 | ||||||
Diluted weighted average shares outstanding | 12,884,000 | 12,779,000 | ||||||
CACHE, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
13 Weeks Ended | 13 Weeks Ended | |||||||
December 31, | January 1, | |||||||
2011 | 2011 | |||||||
Net sales | $ | 62,856,000 | $ | 55,870,000 | ||||
Cost of sales, including buying and occupancy | 35,632,000 | 34,563,000 | ||||||
Gross profit | 27,224,000 | 21,307,000 | ||||||
Expenses | ||||||||
Store operating expenses | 20,028,000 | 20,135,000 | ||||||
General and administrative expenses | 4,086,000 | 4,938,000 | ||||||
Impairment charges | 719,000 | 10,066,000 | ||||||
Total expenses | 24,833,000 | 35,139,000 | ||||||
Operating income (loss) | 2,391,000 | (13,832,000 | ) | |||||
Other income (expense): | ||||||||
Interest expense | (32,000 | ) | (23,000 | ) | ||||
Interest income | 19,000 | 25,000 | ||||||
Income (loss) before income taxes | 2,378,000 | (13,830,000 | ) | |||||
Income tax provision (benefit) | 502,000 | 391,000 | ) | |||||
Net income (loss) | $ | 1,876,000 | $ | (14,221,000 | ) | |||
Basic earnings (loss) per share | $ | 0.15 | $ | (1.11 | ) | |||
Diluted earnings (loss) per share | $ | 0.15 | $ | (1.11 | ) | |||
Basic weighted average shares outstanding | 12,859,000 | 12,795,000 | ||||||
Diluted weighted average shares outstanding | 12,903,000 | 12,795,000 | ||||||