$TLF
TANDY LEATHER FACTORY INC

2017 Q2 Form 10-Q Financial Statement

#000090972417000024 Filed on August 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $19.28M $19.55M
YoY Change -1.39% -1.12%
Cost Of Revenue $6.385M $6.627M
YoY Change -3.65% -4.77%
Gross Profit $12.90M $12.90M
YoY Change 0.0% 0.64%
Gross Profit Margin 66.88% 65.95%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $471.3K $417.6K
YoY Change 12.87% -1.87%
% of Gross Profit 3.65% 3.24%
Operating Expenses $11.24M $10.06M
YoY Change 11.77% -4.04%
Operating Profit $1.655M $2.839M
YoY Change -41.69% 21.64%
Interest Expense $53.68K $42.03K
YoY Change 27.73% 20.9%
% of Operating Profit 3.24% 1.48%
Other Income/Expense, Net -$36.67K -$18.59K
YoY Change 97.21% -25.28%
Pretax Income $1.619M $2.820M
YoY Change -42.6% 22.15%
Income Tax $591.0K $999.4K
% Of Pretax Income 36.51% 35.44%
Net Earnings $1.028M $1.821M
YoY Change -43.56% 20.76%
Net Earnings / Revenue 5.33% 9.31%
Basic Earnings Per Share $0.11 $0.19
Diluted Earnings Per Share $0.11 $0.19
COMMON SHARES
Basic Shares Outstanding 9.226M 9.209M
Diluted Shares Outstanding 9.229M 9.228M

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.84M $9.840M
YoY Change 50.81% -9.48%
Cash & Equivalents $14.84M $9.839M
Short-Term Investments
Other Short-Term Assets $140.5K $133.0K
YoY Change 5.64% 9.86%
Inventory $37.33M $36.30M
Prepaid Expenses $1.479M $1.624M
Receivables $497.3K $551.8K
Other Receivables $0.00 $0.00
Total Short-Term Assets $54.74M $49.57M
YoY Change 10.43% 5.82%
LONG-TERM ASSETS
Property, Plant & Equipment $15.75M $15.74M
YoY Change 0.11% 2.19%
Goodwill $959.8K $959.9K
YoY Change -0.01% -0.4%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $363.5K $329.3K
YoY Change 10.38% 0.41%
Total Long-Term Assets $17.50M $17.05M
YoY Change 2.66% 1.92%
TOTAL ASSETS
Total Short-Term Assets $54.74M $49.57M
Total Long-Term Assets $17.50M $17.05M
Total Assets $72.24M $66.62M
YoY Change 8.44% 4.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.484M $1.394M
YoY Change 6.5% -17.0%
Accrued Expenses $4.472M $4.979M
YoY Change -10.2% -25.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.536M $1.382M
YoY Change 11.11% 582.57%
Total Short-Term Liabilities $7.564M $7.828M
YoY Change -3.37% -8.38%
LONG-TERM LIABILITIES
Long-Term Debt $5.836M $5.990M
YoY Change -2.56% 267.05%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $5.836M $5.990M
YoY Change -2.56% 267.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.564M $7.828M
Total Long-Term Liabilities $5.836M $5.990M
Total Liabilities $13.40M $13.82M
YoY Change -3.02% 35.79%
SHAREHOLDERS EQUITY
Retained Earnings $61.73M $56.41M
YoY Change 9.43% 13.69%
Common Stock $27.15K $27.14K
YoY Change 0.04% 0.3%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.28M $10.28M
YoY Change 0.0% 255.16%
Treasury Stock Shares $2.043M $2.043M
Shareholders Equity $57.01M $51.01M
YoY Change
Total Liabilities & Shareholders Equity $72.24M $66.62M
YoY Change 8.44% 4.8%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $1.028M $1.821M
YoY Change -43.56% 20.76%
Depreciation, Depletion And Amortization $471.3K $417.6K
YoY Change 12.87% -1.87%
Cash From Operating Activities -$1.370M -$1.300M
YoY Change 5.38% -180.25%
INVESTING ACTIVITIES
Capital Expenditures $400.0K $290.0K
YoY Change 37.93% -29.27%
Acquisitions
YoY Change
Other Investing Activities -$20.00K $10.00K
YoY Change -300.0%
Cash From Investing Activities -$420.0K -$290.0K
YoY Change 44.83% -29.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 220.0K -10.00K
YoY Change -2300.0% -96.3%
NET CHANGE
Cash From Operating Activities -1.370M -1.300M
Cash From Investing Activities -420.0K -290.0K
Cash From Financing Activities 220.0K -10.00K
Net Change In Cash -1.570M -1.600M
YoY Change -1.88% -270.21%
FREE CASH FLOW
Cash From Operating Activities -$1.370M -$1.300M
Capital Expenditures $400.0K $290.0K
Free Cash Flow -$1.770M -$1.590M
YoY Change 11.32% -231.4%

Facts In Submission

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-42061
CY2017Q2 us-gaap Number Of Stores
NumberOfStores
4
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
11240097
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
10056899
us-gaap Operating Expenses
OperatingExpenses
21788651
us-gaap Operating Expenses
OperatingExpenses
20346855
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.17
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1655437
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2838891
us-gaap Operating Income Loss
OperatingIncomeLoss
3392928
us-gaap Operating Income Loss
OperatingIncomeLoss
5201681
CY2017Q2 us-gaap Other Assets Current
OtherAssetsCurrent
140488
CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
140232
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
363529
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
334408
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
23395
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3675654
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1004906
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
898007
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
254753
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
658359
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
302019
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-382762
CY2017Q2 us-gaap Other Inventory In Transit
OtherInventoryInTransit
2088119
CY2016Q4 us-gaap Other Inventory In Transit
OtherInventoryInTransit
1459472
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
17012
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
23434
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
19663
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2017Q2 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2017Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1478762
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1608860
CY2017Q2 us-gaap Prepaid Taxes
PrepaidTaxes
455423
CY2016Q4 us-gaap Prepaid Taxes
PrepaidTaxes
964323
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;"><div style="display: inline; font-style: italic;">Reclassificati</div></div><div style="display: inline; text-decoration: underline;"><div style="display: inline; font-style: italic;">ons</div></div><div style="display: inline; font-style: italic;">. </div>Certain prior year amounts have been reclassified to conform to the current year presentation.</div></div></div></div>
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
3660505
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
100
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
26703
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
223404
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
CY2017Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
405149
CY2016Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
291075
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
1004906
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
898007
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
26585838
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
25536352
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15754716
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15651793
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
6710
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
61728490
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
59469493
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
56400
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.14
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
19280770
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
19522905
us-gaap Sales Revenue Net
SalesRevenueNet
39430615
us-gaap Sales Revenue Net
SalesRevenueNet
40195132
us-gaap Share Based Compensation
ShareBasedCompensation
171160
us-gaap Share Based Compensation
ShareBasedCompensation
113302
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
68400
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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
155606
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
12000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
5.14
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
83933
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
CY2016Q2 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
5.14
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
83933
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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 Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y361D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
44400
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
113302
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
171160
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
223404
CY2016Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
2200000
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
50972176
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
51006489
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
53693201
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
57005121
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
2042830
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2042830
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
10278584
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
10278584
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
3675654
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
36801
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
133562
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9229129
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9227941
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9225474
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9437620
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9225960
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9209446
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9212846
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9418645

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