CACHE, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
June 30, December 30, July 1,
ASSETS 2007 2006 2006
-------------------- -------------------- --------------------
(Unaudited) (Unaudited)
Current assets:
Cash and equivalents $ 16,466,000 $ 19,363,000 $ 35,578,000
Marketable securities 49,546,000 42,094,000 20,426,000
Receivables, net 2,944,000 4,794,000 3,176,000
Inventories 32,215,000 34,829,000 30,147,000
Prepaid expenses and other current assets 6,734,000 7,217,000 6,570,000
-------------------- -------------------- --------------------
Total current assets 107,905,000 108,297,000 95,897,000
Equipment and leasehold improvements, net 49,544,000 50,450,000 50,781,000
Other assets 457,000 439,000 434,000
-------------------- -------------------- --------------------
Total assets $ 157,906,000 $ 159,186,000 $ 147,112,000
==================== ==================== ====================
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 10,844,000 $ 11,702,000 $ 11,569,000
Accrued compensation 1,710,000 1,689,000 1,542,000
Accrued liabilities 9,120,000 11,515,000 13,420,000
-------------------- -------------------- --------------------
Total current liabilities 21,674,000 24,906,000 26,531,000
Other liabilities 15,681,000 15,749,000 15,450,000
Deferred income taxes, net 1,779,000 2,068,000 1,926,000
Commitments and contingencies
STOCKHOLDERS' EQUITY
Common stock 163,000 163,000 158,000
Additional paid-in capital 45,526,000 44,646,000 36,278,000
Retained earnings 73,083,000 71,654,000 66,769,000
-------------------- -------------------- --------------------
Total stockholders' equity 118,772,000 116,463,000 103,205,000
-------------------- -------------------- --------------------
Total liabilities and stockholders' equity $ 157,906,000 $ 159,186,000 $ 147,112,000
==================== ==================== ====================
CACHE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
FOR THE TWENTY-SIX WEEKS ENDED
(Unaudited)
June 30, July 1,
2007 2006
-------------------- --------------------
Net sales $ 135,381,000 $ 135,503,000
Cost of sales, including buying and occupancy 72,456,000 71,024,000
-------------------- --------------------
Gross profit 62,925,000 64,479,000
-------------------- --------------------
Expenses:
Store operating expenses 49,631,000 44,725,000
General and administrative expenses 12,493,000 9,734,000
Lillie Rubin exit costs 0 5,662,000
-------------------- --------------------
Total expenses 62,124,000 60,121,000
-------------------- --------------------
Operating income 801,000 4,358,000
Other income:
Interest income 1,484,000 1,193,000
-------------------- --------------------
Income before income taxes 2,285,000 5,551,000
Income tax provision 857,000 2,165,000
-------------------- --------------------
Net income $ 1,428,000 $ 3,386,000
==================== ====================
Basic earnings per share $0.09 $0.21
============== ====================
Diluted earnings per share $0.09 $0.21
============== ====================
Basic weighted average shares outstanding 16,289,000 15,781,000
============== ==============
Diluted weighted average shares outstanding 16,719,000 16,151,000
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CACHE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
FOR THE THIRTEEN WEEKS ENDED
(Unaudited)
June 30, July 1,
2007 2006
-------------------- -------------------
Net sales $ 71,027,000 $ 71,682,000
Cost of sales, including occupancy and buying costs 37,092,000 36,385,000
-------------------- --------------------
Gross profit 33,935,000 35,297,000
-------------------- --------------------
Costs and expenses
Store operating expenses 25,616,000 22,671,000
General and administrative expenses 7,028,000 4,910,000
Lillie Rubin exit costs 0 5,662,000
-------------------- --------------------
32,644,000 33,243,000
-------------------- --------------------
Operating income 1,291,000 2,054,000
-------------------- --------------------
Other income:
Interest income 758,000 664,000
-------------------- --------------------
Income before income taxes 2,049,000 2,718,000
Income tax provision 765,000 1,060,000
-------------------- --------------------
Net income $ 1,284,000 $ 1,658,000
==================== ====================
Basic earnings per share $0.08 $0.11
==================== ====================
Diluted earnings per share $0.08 $0.10
==================== ====================
Basic weighted average shares outstanding 16,296,000 15,785,000
============== ===============
Diluted weighted average shares outstanding 16,672,000 16,168,000
============== ===============