BIG DOG HOLDINGS, INC. AND SUBSIDIARIES |
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CONSOLIDATED BALANCE SHEETS (Unaudited) |
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June 30, |
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2005 |
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2004 |
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ASSETS |
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CURRENT ASSETS: |
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Cash and cash equivalents |
$ 594,000 |
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$ 1,525,000 |
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Receivables, net |
767,000 |
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229,000 |
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Inventories |
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44,407,000 |
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41,653,000 |
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Prepaid expenses and other current assets |
1,965,000 |
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1,111,000 |
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Deferred income taxes |
1,855,000 |
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1,559,000 |
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Total current assets |
49,588,000 |
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46,077,000 |
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PROPERTY AND EQUIPMENT, Net |
9,988,000 |
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10,673,000 |
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INTANGIBLE ASSETS, Net |
172,000 |
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217,000 |
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OTHER ASSETS |
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309,000 |
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448,000 |
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TOTAL |
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$ 61,747,000 |
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$ 58,809,000 |
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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CURRENT LIABILITIES: |
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Short-term borrowings |
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$ 7,384,000 |
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$ 8,496,000 |
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Income taxes payable |
72,000 |
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83,000 |
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Accrued expenses and other current liabilities |
5,376,000 |
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5,696,000 |
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Total current liabilities |
18,084,000 |
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19,591,000 |
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NOTE PAYABLE |
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109,000 |
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487,000 |
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DEFERRED RENT & LEASE INCENTIVES |
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1,333,000 |
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690,000 |
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Total liabilities |
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19,900,000 |
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21,393,000 |
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STOCKHOLDERS' EQUITY |
41,847,000 |
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37,416,000 |
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TOTAL |
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$ 61,747,000 |
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$ 58,809,000 |
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BIG DOG HOLDINGS, INC. AND SUBSIDIARIES |
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CONSOLIDATED STATEMENTS OF OPERATIONS |
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2005 |
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2004 |
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2005 |
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2004 |
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NET SALES |
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$43,441,000 |
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$41,043,000 |
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$74,786,000 |
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$62,924,000 |
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COST OF GOODS SOLD |
18,761,000 |
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18,013,000 |
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33,879,000 |
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28,672,000 |
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GROSS PROFIT |
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24,680,000 |
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23,030,000 |
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40,907,000 |
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34,252,000 |
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OPERATING EXPENSES: |
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Selling, marketing and distribution |
19,327,000 |
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18,875,000 |
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37,594,000 |
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33,008,000 |
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General and administrative |
2,286,000 |
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1,936,000 |
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4,029,000 |
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3,733,000 |
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Total operating expenses |
21,613,000 |
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20,811,000 |
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41,623,000 |
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36,741,000 |
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INCOME (LOSS) FROM OPERATIONS |
3,067,000 |
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2,219,000 |
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(716,000) |
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(2,489,000) |
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INTEREST INCOME |
1,000 |
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64,000 |
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41,000 |
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70,000 |
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INTEREST EXPENSE |
(297,000) |
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(347,000) |
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(448,000) |
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(477,000) |
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INCOME (LOSS) BEFORE PROVISION |
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(BENEFIT) FOR INCOME TAXES |
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2,771,000 |
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2,018,000 |
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(1,123,000) |
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(2,814,000) |
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PROVISION (BENEFIT) FOR INCOME TAXES |
1,053,000 |
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767,000 |
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