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Press Releases
FINANCIAL RESULTS
BIG DOG HOLDINGS, INC. AND
SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS |
|
| ASSETS |
| CURRENT ASSETS: |
| |
Cash and cash equivalents |
$3,530,000 |
$4,670,000 |
| |
Receivables, net |
894,000 |
411,000 |
| |
Inventories |
44,518,000 |
39,581,000 |
| |
Prepaid expenses and other current assets |
1,046,000 |
928,000 |
| |
Deferred income taxes |
1,681,000 |
1,691,000 |
| |
Total current assets |
51,669,000 |
47,281,000 |
| PROPERTY AND EQUIPMENT, Net |
11,931,000 |
9,956,000 |
INTANGIBLE ASSETS, Net
GOODWILL |
4,473,000
3,131,000 |
172,000
-------- |
| DEFERRED INCOME TAXES |
1,187,000 |
1,042,000 |
| OTHER ASSETS |
362,000 |
380,000 |
| |
TOTAL |
$72,753,000 |
$58,831,000 |
|
| LIABILITIES AND STOCKHOLDERS' EQUITY |
| CURRENT LIABILITIES: |
| |
Short-term borrowings
Current portion of long-term debt
Accounts payable |
$
2,796,000
1,775,000
7,478,000 |
$304,000
243,000
5,033,000 |
| |
Income taxes payable |
1,367,000 |
2,643,000 |
| |
Accrued expenses and other current
liabilities |
6,615,000 |
6,331,000 |
| |
Total current liabilities |
20,031,000 |
14,554,000 |
NOTES PAYABLE
CAPITAL LEASE OBLIGATIONS |
4,565,000
47,000 |
289,000
256,000 |
DEFERRED RENT AND LEASE INCENTIVES
DEFERRED GAIN ON SALE-LEASEBACK |
1,468,000
195,000 |
943,000
248,000 |
| |
Total liabilities |
26,306,000 |
16,290,000 |
| STOCKHOLDERS' EQUITY |
46,447,000 |
42,541,000 |
| |
TOTAL |
$72,753,000 |
$58,831,000 |
|
BIG DOG HOLDINGS, INC. AND
SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
OPERATIONS
(Unaudited) |
| |
Three Months Ended
December 31 |
Year Ended
December 31 |
| |
2005 |
2004 |
2005 |
2004 |
|
| NET SALES |
$59,420,000 |
$55,739,000 |
$179,115,000 |
$161,358,000 |
| COST OF GOODS SOLD |
26,809,000 |
24,799,000 |
80,311,000 |
72,733,000 |
| GROSS PROFIT |
32,611,000 |
30,940,000 |
98,804,000 |
88,625,000 |
| OPERATING EXPENSES: |
|
|
|
|
| |
Selling, marketing and distribution |
22,975,000 |
21,585,000 |
80,624,000 |
73,956,000 |
| |
General and administrative |
3,395,000 |
2,516,000 |
9,631,000 |
8,060,000 |
| |
Total operating expenses |
26,370,000 |
24,101,000 |
90,255,000 |
82,016,000 |
INCOME FROM OPERATIONS
OTHER INCOME |
6,241,000
--------- |
6,839,000
--------- |
8,549,000
--------- |
6,609,000
82,000 |
| INTEREST INCOME |
2,000 |
1,000 |
44,000 |
26,000 |
| INTEREST EXPENSE |
(358,000) |
(238,000) |
(976,000) |
(857,000) |
| INCOME BEFORE PROVISION |
|
|
|
|
| |
FOR INCOME TAXES |
5,885,000 |
6,602,000 |
7,617,000 |
5,860,000 |
| PROVISION FOR INCOME TAXES |
2,236,000 |
2,453,000 |
2,894,000 |
2,172,000 |
| NET INCOME |
$3,649,000 |
$4,149,000 |
$4,723,000 |
$3,688,000 |
| NET INCOME PER SHARE: |
|
|
|
|
| |
BASIC |
$ 0.40 |
$ 0.45 |
$ 0.52 |
$ 0.42 |
| |
DILUTED |
$ 0.38 |
$ 0.43 |
$ 0.49 |
$ 0.40 |
| WEIGHTED AVERAGE SHARES
OUTSTANDING: |
|
|
|
|
| |
BASIC |
9,075,000 |
9,178,000 |
9,145,000 |
8,722,000 |
| |
DILUTED |
9,664,000 |
9,732,000 |
9,726,000 |
9,174,000 |
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