$TLYS
TILLY'S, INC.

2014 Q4 Form 10-Q Financial Statement

#000119312514437649 Filed on December 09, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q4
Revenue $131.3M $123.8M
YoY Change 6.06% -0.89%
Cost Of Revenue $90.74M $85.94M
YoY Change 5.58% 3.43%
Gross Profit $40.55M $37.84M
YoY Change 7.15% -9.48%
Gross Profit Margin 30.89% 30.57%
Selling, General & Admin $31.97M $27.69M
YoY Change 15.45% -0.88%
% of Gross Profit 78.85% 73.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.450M $5.040M
YoY Change 8.13% 18.03%
% of Gross Profit 13.44% 13.32%
Operating Expenses $31.97M $27.69M
YoY Change 15.45% -0.88%
Operating Profit $8.577M $10.15M
YoY Change -15.5% -26.81%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$22.00K $116.0K
YoY Change -118.97% -376.19%
Pretax Income $8.555M $10.27M
YoY Change -16.67% -25.75%
Income Tax $3.442M $4.121M
% Of Pretax Income 40.23% 40.14%
Net Earnings $5.113M $6.145M
YoY Change -16.79% -33.88%
Net Earnings / Revenue 3.89% 4.96%
Basic Earnings Per Share $0.18 $0.22
Diluted Earnings Per Share $0.18 $0.22
COMMON SHARES
Basic Shares Outstanding 28.02M shares 27.88M shares
Diluted Shares Outstanding 28.05M shares 28.17M shares

Balance Sheet

Concept 2014 Q4 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $61.30M $50.60M
YoY Change 21.15% 1.61%
Cash & Equivalents $31.36M $20.66M
Short-Term Investments $30.00M $29.90M
Other Short-Term Assets $12.70M $13.40M
YoY Change -5.22% 28.85%
Inventory $62.20M $56.38M
Prepaid Expenses
Receivables $5.900M $5.900M
Other Receivables $0.00 $0.00
Total Short-Term Assets $142.0M $126.3M
YoY Change 12.49% 6.83%
LONG-TERM ASSETS
Property, Plant & Equipment $105.6M $102.4M
YoY Change 3.12% 36.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.011M $3.418M
YoY Change 46.61% -12.4%
Total Long-Term Assets $110.6M $105.8M
YoY Change 4.53% 34.35%
TOTAL ASSETS
Total Short-Term Assets $142.0M $126.3M
Total Long-Term Assets $110.6M $105.8M
Total Assets $252.7M $232.1M
YoY Change 8.86% 17.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.95M $26.96M
YoY Change 3.66% 6.53%
Accrued Expenses $14.12M $12.11M
YoY Change 16.54% 23.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $800.0K $700.0K
YoY Change 14.29% 0.0%
Total Short-Term Liabilities $57.52M $52.74M
YoY Change 9.06% 5.19%
LONG-TERM LIABILITIES
Long-Term Debt $1.900M $2.700M
YoY Change -29.63% -20.59%
Other Long-Term Liabilities $42.60M $41.90M
YoY Change 1.67% 14.17%
Total Long-Term Liabilities $44.47M $44.59M
YoY Change -0.27% 11.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $57.52M $52.74M
Total Long-Term Liabilities $44.47M $44.59M
Total Liabilities $102.0M $97.34M
YoY Change 4.79% 7.82%
SHAREHOLDERS EQUITY
Retained Earnings $24.97M $12.58M
YoY Change 98.45% -226.05%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $150.7M $134.8M
YoY Change
Total Liabilities & Shareholders Equity $252.7M $232.1M
YoY Change 8.86% 17.84%

Cashflow Statement

Concept 2014 Q4 2013 Q4
OPERATING ACTIVITIES
Net Income $5.113M $6.145M
YoY Change -16.79% -33.88%
Depreciation, Depletion And Amortization $5.450M $5.040M
YoY Change 8.13% 18.03%
Cash From Operating Activities $9.320M $10.10M
YoY Change -7.72% -7.25%
INVESTING ACTIVITIES
Capital Expenditures -$5.220M -$12.23M
YoY Change -57.32% 33.81%
Acquisitions
YoY Change
Other Investing Activities -$4.970M $30.00K
YoY Change -16666.67% -97.46%
Cash From Investing Activities -$10.19M -$12.20M
YoY Change -16.48% 53.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -170.0K 1.880M
YoY Change -109.04% 308.7%
NET CHANGE
Cash From Operating Activities 9.320M 10.10M
Cash From Investing Activities -10.19M -12.20M
Cash From Financing Activities -170.0K 1.880M
Net Change In Cash -1.040M -220.0K
YoY Change 372.73% -106.49%
FREE CASH FLOW
Cash From Operating Activities $9.320M $10.10M
Capital Expenditures -$5.220M -$12.23M
Free Cash Flow $14.54M $22.33M
YoY Change -34.89% 11.48%

Facts In Submission

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us-gaap Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
The interest charged on borrowings is either at the London Interbank Offered Rate, or LIBOR, plus 1.00%, or at the bank's prime rate. The Company has the ability to select between the prime rate or LIBOR-based rate at the time of a cash advance.
us-gaap Income Tax Examination Year Under Examination
IncomeTaxExaminationYearUnderExamination
2012
us-gaap Line Of Credit Facility Covenant Compliance
LineOfCreditFacilityCovenantCompliance
The Company was in compliance with all of its covenants and had no outstanding borrowings under the revolving credit facility.
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
21750 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28007000 shares
us-gaap Gross Profit
GrossProfit
106530000
us-gaap Gain Loss On Investments
GainLossOnInvestments
86000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
564000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-2689000
us-gaap Sales Revenue Net
SalesRevenueNet
365477000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2085000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
15930000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
181000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0
us-gaap Operating Income Loss
OperatingIncomeLoss
11982000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-79000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6970000
us-gaap Income Taxes Paid
IncomeTaxesPaid
624000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
11964000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-18000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
34939000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19806000
us-gaap Net Income Loss
NetIncomeLoss
6970000
us-gaap Interest Paid
InterestPaid
141000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2710000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2937000
us-gaap Adjustments To Additional Paid In Capital Income Tax Deficiency From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation
125000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
598000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1489000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1138000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
94548000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
5946000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4994000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
258947000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
15630000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-383000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
14000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
4436000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-14731000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
181000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
40000000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
8155000
us-gaap Share Based Compensation
ShareBasedCompensation
2710000
tlys Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
521000
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
CY2013Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
282000 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2013Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.017 pure
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28166000 shares
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.550 pure
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27884000 shares
CY2013Q4 us-gaap Gross Profit
GrossProfit
37843000
CY2013Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-12000
CY2013Q4 us-gaap Sales Revenue Net
SalesRevenueNet
123779000
CY2013Q4 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-12000
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
10150000
CY2013Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6133000
CY2013Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
10266000
CY2013Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
116000
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
6145000
CY2013Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
27693000
CY2013Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4121000
CY2013Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
85936000
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.444 pure
CY2014Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
22000 shares
CY2014Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.402 pure
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.446 pure
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.018 pure
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28024000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.017 pure
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28046000 shares
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2014Q4 us-gaap Gross Profit
GrossProfit
40548000
CY2014Q4 us-gaap Gain Loss On Investments
GainLossOnInvestments
9000
CY2014Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
13000
CY2014Q4 us-gaap Sales Revenue Net
SalesRevenueNet
131283000
CY2014Q4 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
13000
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
8577000
CY2014Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5126000
CY2014Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
8555000
CY2014Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-22000
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
5113000
CY2014Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31971000
CY2014Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3442000
CY2014Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
90735000
CY2014Q4 us-gaap Share Based Compensation
ShareBasedCompensation
800000

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