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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 |
$949,000 |
$390,000 |
| |
Receivables, net |
1,623,000 |
529,000 |
| |
Inventories |
71,329,000 |
58,573,000 |
| |
Prepaid expenses and other current assets |
3,774,000 |
1,478,000 |
| |
Deferred income taxes |
2,914,000 |
1,923,000 |
| |
Total current assets |
80,589,000 |
62,893,000 |
| PROPERTY AND EQUIPMENT, Net |
17,811,000 |
10,756,000 |
| GOODWILL AND INTANGIBLE ASSETS, Net |
7,343,000 |
7,811,000 |
| DEFERRED INCOME TAXES |
2,072,000 |
1,613,000 |
| OTHER ASSETS |
395,000 |
360,000 |
| |
TOTAL |
$108,210,000 |
$83,433,000 |
|
| LIABILITIES AND STOCKHOLDERS' EQUITY |
| CURRENT LIABILITIES: |
| |
Short-term borrowings
Current portion of long-term debt
Accounts payable |
$
31,951,000
1,797,000
17,749,000 |
$12,191,000
1,616,000
14,577,000 |
| |
Income taxes payable |
41,000 |
1,006,000 |
| |
Accrued expenses and other current
liabilities |
5,063,000 |
4,533,000 |
| |
Total current liabilities |
56,601,000 |
33,923,000 |
NOTES PAYABLE
CAPITAL LEASE OBLIGATIONS |
2,996,000
2,000 |
4,736,000
83,000 |
DEFERRED RENT AND LEASE INCENTIVES
DEFERRED GAIN ON SALE-LEASEBACK |
2,783,000
156,000 |
1,376,000
208,000 |
| |
Total liabilities |
62,538,000 |
40,326,000 |
| STOCKHOLDERS' EQUITY |
45,672,000 |
43,107,000 |
| |
TOTAL |
$108,210,000 |
$83,433,000 |
|
BIG DOG HOLDINGS, INC. AND
SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
OPERATIONS
(Unaudited) |
| |
Three Months Ended
September 30 |
Nine Months Ended
September 30 |
| |
2006 |
2005 |
2006 |
2005 |
|
| NET SALES |
$54,127,000 |
$44,909,000 |
$145,975,000 |
$119,695,000 |
| COST OF GOODS SOLD |
25,145,000 |
19,623,000 |
67,513,000 |
53,502,000 |
| GROSS PROFIT |
28,982,000 |
25,286,000 |
78,462,000 |
66,193,000 |
| OPERATING EXPENSES: |
|
|
|
|
| |
Selling, marketing and distribution |
23,945,000 |
19,168,000 |
69,695,000 |
55,052,000 |
| |
General and administrative
Depreciation and amortization |
2,042,000
1,669,000 |
2,092,000
1,002,000 |
6,164,000
4,526,000 |
5,909,000
2,924,000 |
| |
Total operating expenses |
27,656,000 |
22,262,000 |
80,385,000 |
63,885,000 |
| INCOME (LOSS) FROM OPERATIONS |
1,326,000 |
3,024,000 |
(1,923,000) |
2,308,000 |
| INTEREST INCOME |
2,000 |
1,000 |
6,000 |
42,000 |
| INTEREST EXPENSE |
(573,000) |
(170,000) |
(1,358,000) |
(618,000) |
| INCOME (LOSS) BEFORE PROVISION |
|
|
|
|
| |
FOR (BENEFIT FROM) INCOME TAXES |
755,000 |
2,855,000 |
(3,275,000) |
(1,732,000) |
| PROVISION FOR (BENEFIT FROM) INCOME TAXES |
284,000 |
1,085,000 |
(1,227,000) |
658,000 |
| NET INCOME (LOSS) |
$471,000 |
$1,770,000 |
$(2,048,000) |
$1,074,000 |
| NET INCOME (LOSS) PER SHARE: |
|
|
|
|
| |
BASIC |
$ 0.05 |
$ 0.19 |
$ (0.22) |
$ 0.12 |
| |
DILUTED |
$ 0.05 |
$ 0.18 |
$ (0.22) |
$ 0.11 |
| WEIGHTED AVERAGE SHARES
OUTSTANDING: |
|
|
|
|
| |
BASIC |
9,211,000 |
9,141,000 |
9,159,000 |
9,169,000 |
| |
DILUTED |
10,331,000 |
9,680,000 |
9,159,000 |
9,736,000 |
| EBITDA: |
|
|
|
|
| |
INCOME (LOSS) FROM OPERATIONS
Add:
Depreciation and amortization |
1,326,000
1,669,000 |
3,024,000
1,002,000 |
(1,923,000)
4,526,000 |
2,308,000
2,924,000 |
| |
EBITDA |
2,995,000 |
4,026,000 |
2,603,000 |
5,232,000 |
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