Cache 8-K Cache Reports Second Quarter Fiscal 2012 Results

CACHE, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

	June 30,			December 31,			July 2,
ASSETS	2012			2011			2011
Current assets:
Cash and equivalents	$	14,334,000		$	22,509,000		$	8,706,000
Marketable securities		7,019,000			4,008,000			15,613,000
Certificate of deposits - restricted		3,000,000			3,000,000			3,000,000
Receivables, net		2,359,000			3,403,000			2,426,000
Income tax receivable		267,000			162,000			50,000
Inventories, net		22,267,000			22,075,000			18,350,000
Prepaid expenses and other current assets		2,516,000			1,572,000			4,787,000
Total current assets		51,762,000			56,729,000			52,932,000
Equipment and leasehold improvements, net		20,166,000			18,937,000			21,716,000
Intangible assets, net		102,000			102,000			102,000
Other assets		9,040,000			8,877,000			8,176,000
Total assets	$	81,070,000		$	84,645,000		$	82,926,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	7,957,000		$	9,565,000		$	6,465,000
Note payable		-			-			1,455,000
Accrued compensation		2,560,000			2,579,000	��		2,414,000
Accrued liabilities		9,338,000			10,217,000			9,062,000
Total current liabilities		19,855,000			22,361,000			19,396,000
Other liabilities		10,387,000			11,487,000			12,922,000
Commitments and contingencies
STOCKHOLDERS' EQUITY
Common stock		166,000			165,000			165,000
Additional paid-in capital		48,626,000			48,419,000			48,284,000
Retained earnings		41,831,000			42,008,000			41,954,000
Treasury stock, at cost		(39,795,000	)		(39,795,000	)		(39,795,000	)
Total stockholders' equity		50,828,000			50,797,000			50,608,000
Total liabilities and stockholders' equity	$	81,070,000		$	84,645,000		$	82,926,000

CACHE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS

	26 Weeks Ended			26 Weeks Ended
	June 30,			July 2,
	2012			2011
Net sales	$	117,628,000		$	112,365,000
Cost of sales, including buying and occupancy		69,048,000			62,930,000
Gross profit		48,580,000			49,435,000
Expenses
Store operating expenses		39,459,000			37,533,000
General and administrative expenses		9,467,000			9,003,000
Total expenses		48,926,000			46,536,000
Operating income (loss)		(346,000	)		2,899,000
Other income (expense):
Interest expense		-			(31,000	)
Interest income		42,000			44,000
Income (loss) before income taxes		(304,000	)		2,912,000
Income tax provision (benefit)		(127,000	)		885,000
Net income (loss)	$	(177,000	)	$	2,027,000
Basic earnings (loss) per share	$	(0.01	)	$	0.16
Diluted earnings (loss) per share	$	(0.01	)	$	0.16
Basic weighted average shares outstanding		12,877,000			12,822,000
Diluted weighted average shares outstanding		12,877,000			12,861,000

CACHE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS

	13 Weeks Ended		13 Weeks Ended
	June 30,		July 2,
	2012		2011
Net sales	$	61,633,000	$	60,266,000
Cost of sales, including buying and occupancy		35,250,000		32,752,000
Gross profit		26,383,000		27,514,000
Expenses
Store operating expenses		20,117,000		19,396,000
General and administrative expenses		4,589,000		3,959,000
Total expenses		24,706,000		23,355,000
Operating income		1,677,000		4,159,000
Other income (expense):
Interest expense		-		(13,000	)
Interest income		24,000		23,000
Income before income taxes		1,701,000		4,169,000
Income tax benefit		670,000		1,370,000
Net income	$	1,031,000	$	2,799,000
Basic earnings per share	$	0.08	$	0.22
Diluted earnings per share	$	0.08	$	0.22
Basic weighted average shares outstanding		12,880,000		12,827,000
Diluted weighted average shares outstanding		12,928,000		12,873,000