$TLYS
TILLY'S, INC.

2015 Q2 Form 10-Q Financial Statement

#000119312515220671 Filed on June 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $120.2M $111.1M
YoY Change 8.15% 1.85%
Cost Of Revenue $84.14M $79.81M
YoY Change 5.43% 3.23%
Gross Profit $36.05M $31.33M
YoY Change 15.08% -1.51%
Gross Profit Margin 30.0% 28.19%
Selling, General & Admin $33.92M $30.25M
YoY Change 12.14% 8.47%
% of Gross Profit 94.09% 96.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.610M $4.780M
YoY Change 17.36% 2.8%
% of Gross Profit 15.56% 15.26%
Operating Expenses $33.92M $30.25M
YoY Change 12.14% 8.47%
Operating Profit $2.129M $1.077M
YoY Change 97.68% -72.5%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $8.000K $0.00
YoY Change -100.0%
Pretax Income $2.137M $1.077M
YoY Change 98.42% -72.16%
Income Tax $855.0K $486.0K
% Of Pretax Income 40.01% 45.13%
Net Earnings $1.282M $591.0K
YoY Change 116.92% -74.39%
Net Earnings / Revenue 1.07% 0.53%
Basic Earnings Per Share $0.05 $0.02
Diluted Earnings Per Share $0.05 $0.02
COMMON SHARES
Basic Shares Outstanding 28.17M shares 27.98M shares
Diluted Shares Outstanding 28.32M shares 28.15M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $79.20M $52.40M
YoY Change 51.15% 7.82%
Cash & Equivalents $44.18M $27.40M
Short-Term Investments $35.00M $25.00M
Other Short-Term Assets $12.10M $11.90M
YoY Change 1.68% -4.03%
Inventory $61.70M $52.85M
Prepaid Expenses
Receivables $5.500M $9.300M
Other Receivables $0.00 $0.00
Total Short-Term Assets $158.5M $126.5M
YoY Change 25.31% 6.55%
LONG-TERM ASSETS
Property, Plant & Equipment $101.3M $105.1M
YoY Change -3.62% 20.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.798M $4.715M
YoY Change -40.66% 28.83%
Total Long-Term Assets $104.1M $109.9M
YoY Change -5.21% 20.75%
TOTAL ASSETS
Total Short-Term Assets $158.5M $126.5M
Total Long-Term Assets $104.1M $109.9M
Total Assets $262.6M $236.3M
YoY Change 11.12% 12.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.86M $21.77M
YoY Change 14.23% 7.9%
Accrued Expenses $14.23M $11.65M
YoY Change 22.14% -12.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $800.0K $800.0K
YoY Change 0.0% 14.29%
Total Short-Term Liabilities $55.97M $48.35M
YoY Change 15.76% 3.18%
LONG-TERM LIABILITIES
Long-Term Debt $1.500M $2.300M
YoY Change -34.78% -25.81%
Other Long-Term Liabilities $41.30M $43.40M
YoY Change -4.84% 10.71%
Total Long-Term Liabilities $42.81M $45.74M
YoY Change -6.42% 8.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $55.97M $48.35M
Total Long-Term Liabilities $42.81M $45.74M
Total Liabilities $98.78M $94.10M
YoY Change 4.98% 5.53%
SHAREHOLDERS EQUITY
Retained Earnings $33.35M $18.59M
YoY Change 79.44% 757.38%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $163.8M $142.2M
YoY Change
Total Liabilities & Shareholders Equity $262.6M $236.3M
YoY Change 11.12% 12.71%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $1.282M $591.0K
YoY Change 116.92% -74.39%
Depreciation, Depletion And Amortization $5.610M $4.780M
YoY Change 17.36% 2.8%
Cash From Operating Activities -$3.030M $100.0K
YoY Change -3130.0% -96.56%
INVESTING ACTIVITIES
Capital Expenditures $5.084M $7.943M
YoY Change -35.99% -30.54%
Acquisitions
YoY Change
Other Investing Activities $20.00K $10.01M
YoY Change -99.8% 0.0%
Cash From Investing Activities -$5.070M $2.070M
YoY Change -344.93% -245.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.490M -190.0K
YoY Change -1410.53% 9.2%
NET CHANGE
Cash From Operating Activities -3.030M 100.0K
Cash From Investing Activities -5.070M 2.070M
Cash From Financing Activities 2.490M -190.0K
Net Change In Cash -5.610M 1.980M
YoY Change -383.33% 51.15%
FREE CASH FLOW
Cash From Operating Activities -$3.030M $100.0K
Capital Expenditures $5.084M $7.943M
Free Cash Flow -$8.114M -$7.843M
YoY Change 3.46% -8.02%

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0001524025
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.478 pure
CY2015Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2013000 shares
CY2015Q2 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. We have the ability to select between the prime rate or LIBOR-based rate at the time of a cash advance.
CY2015Q2 us-gaap Income Tax Examination Year Under Examination
IncomeTaxExaminationYearUnderExamination
2012
CY2015Q2 us-gaap Line Of Credit Facility Covenant Compliance
LineOfCreditFacilityCovenantCompliance
We were in compliance with all of our covenants and had no outstanding borrowings under the revolving credit facility.
CY2015Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
266140 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28173000 shares
CY2015Q2 us-gaap Gross Profit
GrossProfit
36052000
CY2015Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1754000
CY2015Q2 us-gaap Gain Loss On Investments
GainLossOnInvestments
31000
CY2015Q2 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
197000
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1000
CY2015Q2 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
793000
CY2015Q2 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
92000
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
120190000
CY2015Q2 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-477000
CY2015Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10189000
CY2015Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2095000
CY2015Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-138000
CY2015Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1269000
CY2015Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2592000
CY2015Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-1000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2129000
CY2015Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-49000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1281000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2137000
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
8000
CY2015Q2 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
14985000
CY2015Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
84138000
CY2015Q2 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1253000
CY2015Q2 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1731000
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
33923000
CY2015Q2 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
92000
CY2015Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-5608000
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
855000
CY2015Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5611000
CY2015Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
2487000

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