2015 Q2 Form 10-Q Financial Statement

#000119312515278695 Filed on August 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $95.95M $83.62M
YoY Change 14.74% 6.95%
Cost Of Revenue $27.25M $23.94M
YoY Change 13.86% 5.17%
Gross Profit $68.70M $59.68M
YoY Change 15.1% 7.68%
Gross Profit Margin 71.6% 71.38%
Selling, General & Admin $48.90M $42.70M
YoY Change 14.52% 11.49%
% of Gross Profit 71.18% 71.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.288M $4.784M
YoY Change 10.54% 7.65%
% of Gross Profit 7.7% 8.02%
Operating Expenses $91.87M $80.17M
YoY Change 14.59% 9.18%
Operating Profit $4.084M $3.454M
YoY Change 18.24% -27.45%
Interest Expense $63.00K $40.00K
YoY Change 57.5% -67.21%
% of Operating Profit 1.54% 1.16%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income $4.021M $3.414M
YoY Change 17.78% -26.41%
Income Tax $1.563M $1.407M
% Of Pretax Income 38.87% 41.21%
Net Earnings $2.461M $2.010M
YoY Change 22.44% -27.15%
Net Earnings / Revenue 2.56% 2.4%
Basic Earnings Per Share $0.09 $0.07
Diluted Earnings Per Share $0.08 $0.07
COMMON SHARES
Basic Shares Outstanding 28.59M shares 29.34M shares
Diluted Shares Outstanding 29.36M shares 30.51M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.10M $70.50M
YoY Change -23.26% 224.88%
Cash & Equivalents $54.11M $70.52M
Short-Term Investments
Other Short-Term Assets $9.000M $8.900M
YoY Change 1.12% 53.45%
Inventory $2.800M $2.400M
Prepaid Expenses
Receivables $5.034M $3.949M
Other Receivables $0.00 $0.00
Total Short-Term Assets $71.03M $85.70M
YoY Change -17.12% 154.3%
LONG-TERM ASSETS
Property, Plant & Equipment $92.62M $81.90M
YoY Change 13.08% 9.64%
Goodwill $1.428M $1.428M
YoY Change 0.0%
Intangibles $3.404M
YoY Change
Long-Term Investments
YoY Change
Other Assets $21.50M $20.30M
YoY Change 5.91% 4.64%
Total Long-Term Assets $119.0M $107.0M
YoY Change 11.15% 8.24%
TOTAL ASSETS
Total Short-Term Assets $71.03M $85.70M
Total Long-Term Assets $119.0M $107.0M
Total Assets $190.0M $192.7M
YoY Change -1.42% 45.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.228M $3.451M
YoY Change -35.44% 1.5%
Accrued Expenses $19.69M $14.98M
YoY Change 31.49% 15.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $74.00K
YoY Change -100.0% -26.0%
Total Short-Term Liabilities $22.02M $18.99M
YoY Change 15.95% -1.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $976.0K
YoY Change -100.0% -93.54%
Other Long-Term Liabilities $699.0K $736.0K
YoY Change -5.03% -94.25%
Total Long-Term Liabilities $699.0K $1.712M
YoY Change -59.17% -93.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.02M $18.99M
Total Long-Term Liabilities $699.0K $1.712M
Total Liabilities $38.50M $33.72M
YoY Change 14.2% -28.57%
SHAREHOLDERS EQUITY
Retained Earnings -$223.9M -$229.5M
YoY Change -2.46%
Common Stock $396.7M $295.0K
YoY Change 134369.83%
Preferred Stock
YoY Change
Treasury Stock (at cost) $22.79M
YoY Change
Treasury Stock Shares 1.749M shares
Shareholders Equity $150.9M $158.8M
YoY Change
Total Liabilities & Shareholders Equity $190.0M $192.7M
YoY Change -1.42% 45.36%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $2.461M $2.010M
YoY Change 22.44% -27.15%
Depreciation, Depletion And Amortization $5.288M $4.784M
YoY Change 10.54% 7.65%
Cash From Operating Activities $8.810M $5.250M
YoY Change 67.81% -10.1%
INVESTING ACTIVITIES
Capital Expenditures -$9.740M -$6.850M
YoY Change 42.19% -9.63%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$9.740M -$6.850M
YoY Change 42.19% -9.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.690M 2.570M
YoY Change -360.31% 1185.0%
NET CHANGE
Cash From Operating Activities 8.810M 5.250M
Cash From Investing Activities -9.740M -6.850M
Cash From Financing Activities -6.690M 2.570M
Net Change In Cash -7.620M 970.0K
YoY Change -885.57% -162.99%
FREE CASH FLOW
Cash From Operating Activities $8.810M $5.250M
Capital Expenditures -$9.740M -$6.850M
Free Cash Flow $18.55M $12.10M
YoY Change 53.31% -9.84%

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ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
224000
us-gaap Net Income Loss
NetIncomeLoss
2992000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
678000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3065000
us-gaap Revenues
Revenues
181717000
us-gaap Interest Paid
InterestPaid
114000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1127000
us-gaap Profit Loss
ProfitLoss
2994000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
12546000
us-gaap Operating Income Loss
OperatingIncomeLoss
5032000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
52000
us-gaap Income Taxes Paid
IncomeTaxesPaid
230000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4908000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
180963000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2931000
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
224000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
1018000
us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-832000
us-gaap Straight Line Rent
StraightLineRent
-1769000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
8000
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
-904000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1914000
us-gaap Share Based Compensation
ShareBasedCompensation
1127000
us-gaap Occupancy Costs
OccupancyCosts
22886000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
12546000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-8900000
us-gaap Operating Expenses
OperatingExpenses
176685000
us-gaap Interest Expense
InterestExpense
124000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-17901000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-9961000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
190000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3743000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
2641000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
18474000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
35000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
326000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
224000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
51752000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
8000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-730000
us-gaap Pre Opening Costs
PreOpeningCosts
1077000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
600000
us-gaap Depreciation
Depreciation
10439000
us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
51598000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
19627000
pbpb Number Of Wholly Owned Subsidiaries
NumberOfWhollyOwnedSubsidiaries
17 Subsidiaries
pbpb Asset Impairment Store Closure And Disposal Of Property And Equipment
AssetImpairmentStoreClosureAndDisposalOfPropertyAndEquipment
887000
pbpb Share Based Compensation Arrangement Unrecognized Compensation Expense Expected Term
ShareBasedCompensationArrangementUnrecognizedCompensationExpenseExpectedTerm
Through 2019
pbpb Revenue From Franchise Royalties And Fees
RevenueFromFranchiseRoyaltiesAndFees
754000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3414000
pbpb Contributions From Minority Noncontrolling Interest
ContributionsFromMinorityNoncontrollingInterest
326000
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y7M13D
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2014Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
120827 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30509553 shares
CY2014Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1046198 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29342528 shares
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
2010000
CY2014Q2 us-gaap Revenues
Revenues
83620000
CY2014Q2 us-gaap Profit Loss
ProfitLoss
2007000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
3454000
CY2014Q2 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-29000
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
83268000
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1407000
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1000000
CY2014Q2 us-gaap Occupancy Costs
OccupancyCosts
10183000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
80166000
CY2014Q2 us-gaap Interest Expense
InterestExpense
40000
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8865000
CY2014Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
23405000
CY2014Q2 us-gaap Pre Opening Costs
PreOpeningCosts
273000
CY2014Q2 us-gaap Depreciation
Depreciation
4784000
CY2014Q2 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
23936000
CY2014Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3000
CY2014Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
8691000
CY2014Q2 pbpb Revenue From Franchise Royalties And Fees
RevenueFromFranchiseRoyaltiesAndFees
352000
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2015Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
61706 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29364689 shares
CY2015Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
708271 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28594712 shares
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
2461000
CY2015Q2 us-gaap Revenues
Revenues
95949000
CY2015Q2 us-gaap Profit Loss
ProfitLoss
2458000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
4084000
CY2015Q2 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-484000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4021000
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
95566000
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1563000
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
600000
CY2015Q2 us-gaap Occupancy Costs
OccupancyCosts
11539000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
91865000
CY2015Q2 us-gaap Interest Expense
InterestExpense
63000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
9643000
CY2015Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
27152000
CY2015Q2 us-gaap Pre Opening Costs
PreOpeningCosts
536000
CY2015Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
300000
CY2015Q2 us-gaap Depreciation
Depreciation
5288000
CY2015Q2 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
27253000
CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3000
CY2015Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
9970000
CY2015Q2 pbpb Revenue From Franchise Royalties And Fees
RevenueFromFranchiseRoyaltiesAndFees
383000

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