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Press Releases
FINANCIAL RESULTS
BIG DOG HOLDINGS, INC. AND
SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited) |
|
| ASSETS |
| CURRENT ASSETS: |
| |
Cash and cash equivalents |
$766,000 |
$595,000 |
| |
Receivables, net |
856,000 |
767,000 |
| |
Inventories |
56,090,000 |
44,406,000 |
| |
Prepaid expenses and other current assets |
3,060,000 |
1,965,000 |
| |
Deferred income taxes |
3,288,000 |
1,855,000 |
| |
Total current assets |
64,060,000 |
49,588,000 |
| PROPERTY AND EQUIPMENT, Net |
15,850,000 |
9,988,000 |
INTANGIBLE ASSETS, Net
GOODWILL |
4,300,000
3,131,000 |
172,000
--------- |
| DEFERRED INCOME TAXES |
1,891,000 |
1,690,000 |
| OTHER ASSETS |
398,000 |
309,000 |
| |
TOTAL |
$89,630,000 |
$61,747,000 |
|
| LIABILITIES AND STOCKHOLDERS' EQUITY |
| CURRENT LIABILITIES: |
| |
Short-term borrowings
Current portion of long-term debt
Accounts payable |
$
23,446,000
1,839,000
8,098,000 |
$7,385,000
246,000
5,006,000 |
| |
Income taxes payable |
--------- |
72,000 |
| |
Accrued expenses and other current
liabilities |
5,220,000 |
5,376,000 |
| |
Total current liabilities |
38,603,000 |
18,085,000 |
NOTES PAYABLE
CAPITAL LEASE OBLIGATIONS |
4,176,000
4,000 |
109,000
152,000 |
DEFERRED RENT AND LEASE INCENTIVES
DEFERRED GAIN ON SALE-LEASEBACK |
1,691,000
169,000 |
1,333,000
221,000 |
| |
Total liabilities |
44,643,000 |
19,900,000 |
| STOCKHOLDERS' EQUITY |
44,987,000 |
41,847,000 |
| |
TOTAL |
$89,630,000 |
$61,747,000 |
|
BIG DOG HOLDINGS, INC. AND
SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
OPERATIONS
(Unaudited) |
| |
Three Months Ended
June 30 |
Six Months Ended
June 30 |
| |
2006 |
2005 |
2006 |
2005 |
|
| NET SALES |
$53,178,000 |
$43,441,000 |
$91,848,000 |
$74,786,000 |
| COST OF GOODS SOLD |
23,795,000 |
18,761,000 |
42,368,000 |
33,879,000 |
| GROSS PROFIT |
29,383,000 |
24,680,000 |
49,480,000 |
40,907,000 |
| OPERATING EXPENSES: |
|
|
|
|
| |
Selling, marketing and distribution |
24,212,000 |
18,465,000 |
45,751,000 |
35,884,000 |
| |
General and administrative
Depreciation and amortization |
2,101,000
1,531,000 |
2,178,000
970,000 |
4,122,000
2,857,000 |
3,818,000
1,922,000 |
| |
Total operating expenses |
27,844,000 |
21,613,000 |
52,730,000 |
41,624,000 |
| INCOME (LOSS) FROM OPERATIONS |
1,539,000 |
3,067,000 |
(3,250,000) |
(717,000) |
| INTEREST INCOME |
2,000 |
1,000 |
4,000 |
41,000 |
| INTEREST EXPENSE |
(516,000) |
(297,000) |
(785,000) |
(448,000) |
| INCOME (LOSS) BEFORE PROVISION |
|
|
|
|
| |
(BENEFIT) FOR INCOME TAXES |
1,025,000 |
2,771,000 |
(4,031,000) |
(1,124,000) |
| PROVISION (BENEFIT) FOR INCOME TAXES |
385,000 |
1,053,000 |
(1,512,000) |
(427,000) |
| NET INCOME (LOSS) |
$640,000 |
$1,718,000 |
$(2,519,000) |
$(697,000) |
| NET INCOME (LOSS) PER SHARE: |
|
|
|
|
| |
BASIC |
$ 0.07 |
$ 0.19 |
$ (0.28) |
$ (0.08) |
| |
DILUTED |
$ 0.06 |
$ 0.18 |
$ (0.28) |
$ (0.08) |
| WEIGHTED AVERAGE SHARES
OUTSTANDING: |
|
|
|
|
| |
BASIC |
9,177,000 |
9,187,000 |
9,135,000 |
9,183,000 |
| |
DILUTED |
10,308,000 |
9,760,000 |
9,135,000 |
9,183,000 |
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