$TLF
TANDY LEATHER FACTORY INC

2016 Q2 Form 10-Q Financial Statement

#000090972416000073 Filed on August 15, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $19.55M $19.77M
YoY Change -1.12% 0.35%
Cost Of Revenue $6.627M $6.959M
YoY Change -4.77% 0.51%
Gross Profit $12.90M $12.81M
YoY Change 0.64% 0.27%
Gross Profit Margin 65.95% 64.81%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $417.6K $425.5K
YoY Change -1.87% 15.2%
% of Gross Profit 3.24% 3.32%
Operating Expenses $10.06M $10.48M
YoY Change -4.04% 3.53%
Operating Profit $2.839M $2.334M
YoY Change 21.64% -12.14%
Interest Expense $42.03K $34.76K
YoY Change 20.9% -22.5%
% of Operating Profit 1.48% 1.49%
Other Income/Expense, Net -$18.59K -$24.89K
YoY Change -25.28% -37.03%
Pretax Income $2.820M $2.309M
YoY Change 22.15% -11.76%
Income Tax $999.4K $801.1K
% Of Pretax Income 35.44% 34.69%
Net Earnings $1.821M $1.508M
YoY Change 20.76% -14.59%
Net Earnings / Revenue 9.31% 7.63%
Basic Earnings Per Share $0.19 $0.15
Diluted Earnings Per Share $0.19 $0.15
COMMON SHARES
Basic Shares Outstanding 9.209M 10.21M
Diluted Shares Outstanding 9.228M 10.24M

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.840M $10.87M
YoY Change -9.48% 46.89%
Cash & Equivalents $9.839M $10.87M
Short-Term Investments
Other Short-Term Assets $133.0K $121.1K
YoY Change 9.86% -95.1%
Inventory $36.30M $32.81M
Prepaid Expenses $1.624M $1.347M
Receivables $551.8K $758.9K
Other Receivables $0.00 $0.00
Total Short-Term Assets $49.57M $46.84M
YoY Change 5.82% 0.37%
LONG-TERM ASSETS
Property, Plant & Equipment $15.74M $15.40M
YoY Change 2.19% 4.98%
Goodwill $959.9K $963.8K
YoY Change -0.4% -1.81%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $329.3K $328.0K
YoY Change 0.41% -3.53%
Total Long-Term Assets $17.05M $16.73M
YoY Change 1.92% 4.11%
TOTAL ASSETS
Total Short-Term Assets $49.57M $46.84M
Total Long-Term Assets $17.05M $16.73M
Total Assets $66.62M $63.57M
YoY Change 4.8% 1.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.394M $1.679M
YoY Change -17.0% -18.49%
Accrued Expenses $4.979M $6.662M
YoY Change -25.25% -0.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.382M $202.5K
YoY Change 582.57% -91.73%
Total Short-Term Liabilities $7.828M $8.543M
YoY Change -8.38% -37.91%
LONG-TERM LIABILITIES
Long-Term Debt $5.990M $1.632M
YoY Change 267.05% -20.01%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $5.990M $1.632M
YoY Change 267.05% -20.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.828M $8.543M
Total Long-Term Liabilities $5.990M $1.632M
Total Liabilities $13.82M $10.18M
YoY Change 35.79% -39.9%
SHAREHOLDERS EQUITY
Retained Earnings $56.41M $49.62M
YoY Change 13.69%
Common Stock $27.14K $27.06K
YoY Change 0.3%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.28M $2.894M
YoY Change 255.16%
Treasury Stock Shares $2.043M $993.6K
Shareholders Equity $51.01M $51.99M
YoY Change
Total Liabilities & Shareholders Equity $66.62M $63.57M
YoY Change 4.8% 1.32%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $1.821M $1.508M
YoY Change 20.76% -14.59%
Depreciation, Depletion And Amortization $417.6K $425.5K
YoY Change -1.87% 15.2%
Cash From Operating Activities -$1.300M $1.620M
YoY Change -180.25% -150.63%
INVESTING ACTIVITIES
Capital Expenditures $290.0K $410.0K
YoY Change -29.27% 32.26%
Acquisitions
YoY Change
Other Investing Activities $10.00K $0.00
YoY Change -100.0%
Cash From Investing Activities -$290.0K -$410.0K
YoY Change -29.27% 36.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00K -270.0K
YoY Change -96.3% -113.85%
NET CHANGE
Cash From Operating Activities -1.300M 1.620M
Cash From Investing Activities -290.0K -410.0K
Cash From Financing Activities -10.00K -270.0K
Net Change In Cash -1.600M 940.0K
YoY Change -270.21% -160.65%
FREE CASH FLOW
Cash From Operating Activities -$1.300M $1.620M
Capital Expenditures $290.0K $410.0K
Free Cash Flow -$1.590M $1.210M
YoY Change -231.4% -134.47%

Facts In Submission

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CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
10480539
us-gaap Operating Expenses
OperatingExpenses
20346855
us-gaap Operating Expenses
OperatingExpenses
20674586
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2838891
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2333842
us-gaap Operating Income Loss
OperatingIncomeLoss
5201681
us-gaap Operating Income Loss
OperatingIncomeLoss
4722723
CY2016Q2 us-gaap Other Assets Current
OtherAssetsCurrent
132985
CY2015Q4 us-gaap Other Assets Current
OtherAssetsCurrent
70197
CY2016Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
329332
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
329684
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-166567
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
254753
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-382762
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
477889
CY2016Q2 us-gaap Other Inventory In Transit
OtherInventoryInTransit
2060168
CY2015Q4 us-gaap Other Inventory In Transit
OtherInventoryInTransit
1812208
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
23434
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
9877
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
23395
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
29750
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3675654
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2016Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1623858
CY2015Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1514887
CY2016Q2 us-gaap Prepaid Taxes
PrepaidTaxes
765605
CY2015Q4 us-gaap Prepaid Taxes
PrepaidTaxes
549277
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
3660505
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
26703
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
741
CY2016Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
291075
CY2015Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
410787
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
898007
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
1088231
CY2016Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
24764249
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
23992208
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15738110
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15695053
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
6710
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3808812
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
56409146
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
53067234
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
19522905
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
19773528
us-gaap Sales Revenue Net
SalesRevenueNet
40195132
us-gaap Sales Revenue Net
SalesRevenueNet
40562292
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
51006489
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
2042830
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1522348
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
10278584
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
6602930
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
3675654
us-gaap Share Based Compensation
ShareBasedCompensation
113302
us-gaap Share Based Compensation
ShareBasedCompensation
77737
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
68400
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
70400
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.17
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2953
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
83933
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
86886
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
68400
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
68400
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
72400
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
70400
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.17
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.17
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.16
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.17
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.96
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
83933
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
86886
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y361D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y302D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y361D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y302D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2000
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
67817
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
113302
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
9920
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
49123012
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
51986485
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
50972176
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
133562
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
130833
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9227941
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10241164
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9437620
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10241130
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9209446
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10212933
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9418645
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10212137

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