$LCUT
LIFETIME BRANDS, INC

2013 Q4 Form 10-Q Financial Statement

#000119312513435524 Filed on November 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2013 Q2
Revenue $164.9M $142.2M $96.98M
YoY Change 6.52% 11.07% 2.15%
Cost Of Revenue $101.5M $90.95M $60.62M
YoY Change 2.73% 9.39% 1.77%
Gross Profit $63.30M $51.28M $36.36M
YoY Change 13.04% 14.18% 2.78%
Gross Profit Margin 38.39% 36.05% 37.49%
Selling, General & Admin $46.70M $28.94M $25.93M
YoY Change 12.53% 11.77% 10.06%
% of Gross Profit 73.78% 56.44% 71.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.710M $2.520M $2.670M
YoY Change 11.07% 4.56% 18.14%
% of Gross Profit 4.28% 4.91% 7.34%
Operating Expenses $46.80M $28.94M $25.93M
YoY Change 12.77% 11.77% 10.06%
Operating Profit $16.50M $11.69M $12.00K
YoY Change 13.79% 57.78% -99.44%
Interest Expense -$1.300M $1.280M $1.149M
YoY Change 0.0% 0.71% -31.4%
% of Operating Profit -7.88% 10.95% 9575.0%
Other Income/Expense, Net
YoY Change
Pretax Income $15.20M $10.41M -$1.137M
YoY Change 14.29% 103.18% -974.62%
Income Tax $6.200M $3.869M -$477.0K
% Of Pretax Income 40.79% 37.16%
Net Earnings $9.400M $1.093M -$568.0K
YoY Change -38.16% -71.9% -201.61%
Net Earnings / Revenue 5.7% 0.77% -0.59%
Basic Earnings Per Share $0.09 -$0.04
Diluted Earnings Per Share $723.1K $0.08 -$0.04
COMMON SHARES
Basic Shares Outstanding 12.74M shares 12.71M shares 12.81M shares
Diluted Shares Outstanding 13.05M shares 12.81M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.900M $2.600M $1.200M
YoY Change 157.89% 52.94% -57.14%
Cash & Equivalents $4.947M $2.603M $1.182M
Short-Term Investments
Other Short-Term Assets $9.700M $10.50M $12.10M
YoY Change 8.99% 10.53% 39.08%
Inventory $112.8M $133.1M $112.6M
Prepaid Expenses
Receivables $87.22M $93.18M $57.47M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $214.7M $239.3M $183.3M
YoY Change 0.9% 3.4% -3.47%
LONG-TERM ASSETS
Property, Plant & Equipment $27.70M $28.67M $29.79M
YoY Change -12.48% -10.41% -8.62%
Goodwill $18.10M $5.085M $5.085M
YoY Change 255.97% 90.24% 90.24%
Intangibles $50.06M
YoY Change -5.1%
Long-Term Investments $36.90M $36.20M $43.20M
YoY Change -15.56% 0.0% 24.86%
Other Assets $2.268M $2.557M $2.933M
YoY Change -20.84% -11.95% -7.74%
Total Long-Term Assets $122.1M $123.2M $132.5M
YoY Change -10.27% 6.4% 13.68%
TOTAL ASSETS
Total Short-Term Assets $214.7M $239.3M $183.3M
Total Long-Term Assets $122.1M $123.2M $132.5M
Total Assets $336.7M $362.5M $315.7M
YoY Change -3.46% 4.4% 3.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.43M $33.97M $24.53M
YoY Change 15.47% 25.19% 17.67%
Accrued Expenses $41.10M $39.60M $25.85M
YoY Change 23.21% 12.02% 15.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.900M $10.50M $9.600M
YoY Change -65.79% -74.58%
Total Short-Term Liabilities $69.49M $84.07M $60.00M
YoY Change 3.88% -20.05% 38.72%
LONG-TERM LIABILITIES
Long-Term Debt $65.90M $86.10M $63.80M
YoY Change -22.1% 27.93% -31.69%
Other Long-Term Liabilities $18.64M $19.19M $19.37M
YoY Change -13.55% 18.47% 21.8%
Total Long-Term Liabilities $18.64M $19.19M $19.37M
YoY Change -13.55% -77.02% -82.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $69.49M $84.07M $60.00M
Total Long-Term Liabilities $18.64M $19.19M $19.37M
Total Liabilities $88.14M $103.3M $79.36M
YoY Change -0.37% -46.64% -49.77%
SHAREHOLDERS EQUITY
Retained Earnings $38.22M $29.31M $28.62M
YoY Change 12.93% 54.18% 85.43%
Common Stock $128.0K $127.0K $127.0K
YoY Change 0.0% 0.79% 0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $180.9M $170.8M $168.9M
YoY Change
Total Liabilities & Shareholders Equity $336.7M $362.5M $315.7M
YoY Change -3.46% 4.4% 3.05%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2013 Q2
OPERATING ACTIVITIES
Net Income $9.400M $1.093M -$568.0K
YoY Change -38.16% -71.9% -201.61%
Depreciation, Depletion And Amortization $2.710M $2.520M $2.670M
YoY Change 11.07% 4.56% 18.14%
Cash From Operating Activities $29.93M -$21.47M $2.340M
YoY Change -2.06% 44.58% -36.59%
INVESTING ACTIVITIES
Capital Expenditures -$1.070M -$780.0K -$800.0K
YoY Change -32.7% -41.79% -48.39%
Acquisitions
YoY Change
Other Investing Activities $0.00 $10.00K
YoY Change -100.0% -50.0%
Cash From Investing Activities -$1.060M -$780.0K -$800.0K
YoY Change -94.37% -41.35% -48.39%
FINANCING ACTIVITIES
Cash Dividend Paid $397.0K $401.0K
YoY Change 27.24% 28.94%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.26M 23.06M -3.180M
YoY Change 107.42% 52.31% -3.34%
NET CHANGE
Cash From Operating Activities 29.93M -21.47M 2.340M
Cash From Investing Activities -1.060M -780.0K -800.0K
Cash From Financing Activities -26.26M 23.06M -3.180M
Net Change In Cash 2.610M 810.0K -1.640M
YoY Change -380.65% -177.88% 42.61%
FREE CASH FLOW
Cash From Operating Activities $29.93M -$21.47M $2.340M
Capital Expenditures -$1.070M -$780.0K -$800.0K
Free Cash Flow $31.00M -$20.69M $3.140M
YoY Change -3.58% 53.15% -40.08%

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dei Trading Symbol
TradingSymbol
LCUT
dei Entity Registrant Name
EntityRegistrantName
LIFETIME BRANDS, INC
dei Amendment Flag
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dei Entity Filer Category
EntityFilerCategory
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Entity Central Index Key
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dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
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