$TLYS
TILLY'S, INC.

2012 Q4 Form 10-Q Financial Statement

#000119312512489796 Filed on December 04, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2011 Q4
Revenue $124.9M $107.3M
YoY Change 16.39%
Cost Of Revenue $83.09M $71.45M
YoY Change 16.29%
Gross Profit $41.81M $35.86M
YoY Change 16.59%
Gross Profit Margin 33.47% 33.42%
Selling, General & Admin $27.94M $23.51M
YoY Change 18.82%
% of Gross Profit 66.83% 65.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.270M $3.770M
YoY Change 13.26%
% of Gross Profit 10.21% 10.51%
Operating Expenses $27.94M $23.51M
YoY Change 18.82%
Operating Profit $13.87M $12.34M
YoY Change 12.35%
Interest Expense $42.00K $49.00K
YoY Change -14.29%
% of Operating Profit 0.3% 0.4%
Other Income/Expense, Net -$42.00K
YoY Change
Pretax Income $13.83M $12.30M
YoY Change 12.45%
Income Tax $4.532M $140.0K
% Of Pretax Income 32.78% 1.14%
Net Earnings $9.294M $12.16M
YoY Change -23.54%
Net Earnings / Revenue 7.44% 11.33%
Basic Earnings Per Share $0.34 $0.61
Diluted Earnings Per Share $0.33 $0.59
COMMON SHARES
Basic Shares Outstanding 27.66M shares 20.00M shares
Diluted Shares Outstanding 28.08M shares 20.53M shares

Balance Sheet

Concept 2012 Q4 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $49.80M
YoY Change
Cash & Equivalents $24.88M $15.67M
Short-Term Investments $24.90M
Other Short-Term Assets $10.40M
YoY Change
Inventory $49.87M
Prepaid Expenses
Receivables $8.100M
Other Receivables $0.00
Total Short-Term Assets $118.2M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $74.87M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.902M
YoY Change
Total Long-Term Assets $78.77M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $118.2M
Total Long-Term Assets $78.77M
Total Assets $197.0M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.31M
YoY Change
Accrued Expenses $9.849M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $700.0K
YoY Change
Total Short-Term Liabilities $50.14M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $3.400M
YoY Change
Other Long-Term Liabilities $36.70M
YoY Change
Total Long-Term Liabilities $40.14M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $50.14M
Total Long-Term Liabilities $40.14M
Total Liabilities $90.28M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$9.981M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $106.7M
YoY Change
Total Liabilities & Shareholders Equity $197.0M
YoY Change

Cashflow Statement

Concept 2012 Q4 2011 Q4
OPERATING ACTIVITIES
Net Income $9.294M $12.16M
YoY Change -23.54%
Depreciation, Depletion And Amortization $4.270M $3.770M
YoY Change 13.26%
Cash From Operating Activities $10.89M $16.39M
YoY Change -33.56%
INVESTING ACTIVITIES
Capital Expenditures -$9.140M -$5.510M
YoY Change 65.88%
Acquisitions
YoY Change
Other Investing Activities $1.180M $0.00
YoY Change
Cash From Investing Activities -$7.960M -$5.510M
YoY Change 44.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 460.0K -26.17M
YoY Change -101.76%
NET CHANGE
Cash From Operating Activities 10.89M 16.39M
Cash From Investing Activities -7.960M -5.510M
Cash From Financing Activities 460.0K -26.17M
Net Change In Cash 3.390M -15.29M
YoY Change -122.17%
FREE CASH FLOW
Cash From Operating Activities $10.89M $16.39M
Capital Expenditures -$9.140M -$5.510M
Free Cash Flow $20.03M $21.90M
YoY Change -8.54%

Facts In Submission

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dei Trading Symbol
TradingSymbol
TLYS
dei Contained File Information File Number
ContainedFileInformationFileNumber
333-175299
dei Entity Registrant Name
EntityRegistrantName
TILLY'S, INC.
dei Amendment Flag
AmendmentFlag
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dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-10-27
dei Entity Central Index Key
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0001524025
dei Current Fiscal Year End Date
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Use of Estimates</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management evaluates its estimates and judgments, including those related to inventory valuation, property and equipment, recoverability of long-lived assets, income taxes and stock-based compensation.</font></p> </div>
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728000 shares
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
9294000
CY2012Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
27940000
CY2012Q4 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
200000
CY2012Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4532000
CY2012Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
6000
CY2012Q4 us-gaap Interest Expense
InterestExpense
42000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
7497000
us-gaap Operating Income Loss
OperatingIncomeLoss
16576000
us-gaap Debt Instrument Covenant Compliance
DebtInstrumentCovenantCompliance
The Company was in compliance with all of its covenants and had no outstanding borrowings under the line of credit.
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
8477000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
4000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y9M18D
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8893000
us-gaap Gain Loss On Investments
GainLossOnInvestments
-28000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
14058000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
170000
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
83000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.006 pure
us-gaap Share Based Compensation
ShareBasedCompensation
8893000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
17000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
81625 shares
us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
4000 shares
us-gaap Depreciation And Amortization
DepreciationAndAmortization
12299000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.329 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
805000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
26566000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-49678000
us-gaap Income Taxes Paid
IncomeTaxesPaid
8834000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1375000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
106789000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25585000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-208000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1072000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.576 pure
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
12121000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
106789000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M24D
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25403000 shares
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
805000
us-gaap Sales Revenue Net
SalesRevenueNet
326521000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
16530000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
6000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
22904000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
6000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
16000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.629 pure
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
94000
us-gaap Lease Expiration Date1
LeaseExpirationDate1
2012-12-31
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24979000 shares
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
799000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
13202000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
424000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
us-gaap Cost Of Goods Sold
CostOfGoodsSold
223150000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
60419000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-153000
us-gaap Dividends
Dividends
84287000
us-gaap Gross Profit
GrossProfit
103371000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
497000
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
84287000
us-gaap Interest Paid
InterestPaid
229000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1048000
us-gaap Interest Expense
InterestExpense
46000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
15.60
tlys Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
7435000
tlys Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageGrantDateFairValue
14.24
tlys Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriodWeightedAverageGrantDateFairValue
8.85
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6325000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.008 pure
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
654000 shares
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
35510000
us-gaap Net Income Loss
NetIncomeLoss
14052000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
94000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
86795000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
700000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
2184000

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