2015 Q4 Form 10-Q Financial Statement

#000162828015009299 Filed on December 08, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4
Revenue $141.7M $131.3M
YoY Change 7.93% 6.06%
Cost Of Revenue $97.05M $90.74M
YoY Change 6.96% 5.58%
Gross Profit $44.64M $40.55M
YoY Change 10.09% 7.15%
Gross Profit Margin 31.51% 30.89%
Selling, General & Admin $39.25M $31.97M
YoY Change 22.78% 15.45%
% of Gross Profit 87.93% 78.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.730M $5.450M
YoY Change 5.14% 8.13%
% of Gross Profit 12.84% 13.44%
Operating Expenses $39.25M $31.97M
YoY Change 22.78% 15.45%
Operating Profit $5.387M $8.577M
YoY Change -37.19% -15.5%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $21.00K -$22.00K
YoY Change -195.45% -118.97%
Pretax Income $5.408M $8.555M
YoY Change -36.79% -16.67%
Income Tax $2.594M $3.442M
% Of Pretax Income 47.97% 40.23%
Net Earnings $2.814M $5.113M
YoY Change -44.96% -16.79%
Net Earnings / Revenue 1.99% 3.89%
Basic Earnings Per Share $0.10 $0.18
Diluted Earnings Per Share $0.10 $0.18
COMMON SHARES
Basic Shares Outstanding 28.41M shares 28.02M shares
Diluted Shares Outstanding 28.42M shares 28.05M shares

Balance Sheet

Concept 2015 Q4 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.30M $61.30M
YoY Change 24.47% 21.15%
Cash & Equivalents $46.34M $31.36M
Short-Term Investments $30.00M $30.00M
Other Short-Term Assets $13.30M $12.70M
YoY Change 4.72% -5.22%
Inventory $70.11M $62.20M
Prepaid Expenses
Receivables $6.500M $5.900M
Other Receivables $0.00 $0.00
Total Short-Term Assets $166.1M $142.0M
YoY Change 16.97% 12.49%
LONG-TERM ASSETS
Property, Plant & Equipment $102.5M $105.6M
YoY Change -2.9% 3.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.703M $5.011M
YoY Change -26.1% 46.61%
Total Long-Term Assets $106.3M $110.6M
YoY Change -3.95% 4.53%
TOTAL ASSETS
Total Short-Term Assets $166.1M $142.0M
Total Long-Term Assets $106.3M $110.6M
Total Assets $272.4M $252.7M
YoY Change 7.81% 8.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.77M $27.95M
YoY Change -11.37% 3.66%
Accrued Expenses $17.86M $14.12M
YoY Change 26.51% 16.54%
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 $59.50M $57.52M
YoY Change 3.44% 9.06%
LONG-TERM LIABILITIES
Long-Term Debt $1.100M $1.900M
YoY Change -42.11% -29.63%
Other Long-Term Liabilities $42.10M $42.60M
YoY Change -1.17% 1.67%
Total Long-Term Liabilities $43.20M $44.47M
YoY Change -2.87% -0.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.50M $57.52M
Total Long-Term Liabilities $43.20M $44.47M
Total Liabilities $102.7M $102.0M
YoY Change 0.69% 4.79%
SHAREHOLDERS EQUITY
Retained Earnings $36.73M $24.97M
YoY Change 47.11% 98.45%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $169.7M $150.7M
YoY Change
Total Liabilities & Shareholders Equity $272.4M $252.7M
YoY Change 7.81% 8.86%

Cashflow Statement

Concept 2015 Q4 2014 Q4
OPERATING ACTIVITIES
Net Income $2.814M $5.113M
YoY Change -44.96% -16.79%
Depreciation, Depletion And Amortization $5.730M $5.450M
YoY Change 5.14% 8.13%
Cash From Operating Activities $5.790M $9.320M
YoY Change -37.88% -7.72%
INVESTING ACTIVITIES
Capital Expenditures -$6.010M -$5.220M
YoY Change 15.13% -57.32%
Acquisitions
YoY Change
Other Investing Activities -$4.940M -$4.970M
YoY Change -0.6% -16666.67%
Cash From Investing Activities -$10.95M -$10.19M
YoY Change 7.46% -16.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -240.0K -170.0K
YoY Change 41.18% -109.04%
NET CHANGE
Cash From Operating Activities 5.790M 9.320M
Cash From Investing Activities -10.95M -10.19M
Cash From Financing Activities -240.0K -170.0K
Net Change In Cash -5.400M -1.040M
YoY Change 419.23% 372.73%
FREE CASH FLOW
Cash From Operating Activities $5.790M $9.320M
Capital Expenditures -$6.010M -$5.220M
Free Cash Flow $11.80M $14.54M
YoY Change -18.84% -34.89%

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EntityRegistrantName
TILLY'S, INC.
dei Trading Symbol
TradingSymbol
TLYS
CY2015Q4 tlys Impaired Long Lived Assets Heldand Used Carrying Amount
ImpairedLongLivedAssetsHeldandUsedCarryingAmount
1710000 USD
tlys Impaired Long Lived Assets Heldand Used Carrying Amount
ImpairedLongLivedAssetsHeldandUsedCarryingAmount
2355000 USD
CY2015Q4 tlys Impaired Long Lived Assets Heldand Used Fair Value
ImpairedLongLivedAssetsHeldandUsedFairValue
355000 USD
tlys Impaired Long Lived Assets Heldand Used Fair Value
ImpairedLongLivedAssetsHeldandUsedFairValue
634000 USD
tlys Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
521000 USD
tlys Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
729000 USD
CY2015Q4 tlys Long Lived Assets Testedfor Impairment Carrying Amount
LongLivedAssetsTestedforImpairmentCarryingAmount
4208000 USD
tlys Long Lived Assets Testedfor Impairment Carrying Amount
LongLivedAssetsTestedforImpairmentCarryingAmount
10434000 USD
CY2015Q4 tlys Number Of States
NumberOfStates
33 State
CY2015Q4 tlys Numberof Stores Testedfor Impairment
NumberofStoresTestedforImpairment
12 Store
tlys Numberof Stores Testedfor Impairment
NumberofStoresTestedforImpairment
14 Store
CY2015Q4 tlys Numberof Storeswith Impairment
NumberofStoreswithImpairment
6 Store
CY2015Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
23109000 USD
CY2015Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
24770000 USD
CY2015Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
12325000 USD
CY2015Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17860000 USD
CY2015Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
21000 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
4000 USD
CY2015Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
126565000 USD
CY2015Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
132937000 USD
us-gaap Adjustments To Additional Paid In Capital Income Tax Deficiency From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation
35000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3313000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2418250 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2072700 shares
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1721000 USD
CY2015Q1 us-gaap Assets
Assets
257551000 USD
CY2015Q4 us-gaap Assets
Assets
272392000 USD
CY2015Q1 us-gaap Assets Current
AssetsCurrent
153284000 USD
CY2015Q4 us-gaap Assets Current
AssetsCurrent
166142000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2937000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4198000 USD
CY2015Q1 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
806000 USD
CY2015Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
845000 USD
CY2015Q1 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
1694000 USD
CY2015Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
1055000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25412000 USD
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
49789000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
46335000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
31358000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
5946000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-3454000 USD
CY2015Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2014Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5126000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6970000 USD
CY2015Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2805000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
4640000 USD
CY2014Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
90735000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
258947000 USD
CY2015Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
97051000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
274616000 USD
us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
We are required to maintain certain financial and nonfinancial covenants in accordance with the revolving credit facility. The financial covenants require certain levels of leverage and profitability, such as (i) an aggregate maximum net loss after taxes not to exceed $5 million (measured at the end of each fiscal quarter), with no more than one annual net loss after taxes for any fiscal year (in either case, excluding all charges for impairment of goodwill, other intangibles and store assets impairment on the balance sheet of WOJT, in an aggregate amount of up to $2.0 million for the relevant period), and (ii) a maximum ratio of 2.00to 1.00 for “balance sheet leverage”, defined as total liabilities divided by total tangible net worth.
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.
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
598000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
733000 USD
CY2015Q1 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
6070000 USD
CY2015Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
6533000 USD
CY2015Q1 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
41875000 USD
CY2015Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
42141000 USD
CY2015Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
7075000 USD
CY2015Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
5212000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
15630000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
16991000 USD
CY2014Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.40
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.42
CY2015Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.48
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.46
CY2015Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5911000 USD
CY2015Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4278000 USD
CY2015Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
5300000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M18D
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
95000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
0 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
95000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-79000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-245000 USD
CY2014Q4 us-gaap Gain Loss On Investments
GainLossOnInvestments
9000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
86000 USD
CY2015Q4 us-gaap Gain Loss On Investments
GainLossOnInvestments
31000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
96000 USD
CY2014Q4 us-gaap Gross Profit
GrossProfit
40548000 USD
us-gaap Gross Profit
GrossProfit
106530000 USD
CY2015Q4 us-gaap Gross Profit
GrossProfit
44641000 USD
us-gaap Gross Profit
GrossProfit
117289000 USD
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
CY2015Q4 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1400000 USD
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1700000 USD
CY2014Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
8555000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
11964000 USD
CY2015Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
5408000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
8660000 USD
CY2014Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3442000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4994000 USD
CY2015Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2594000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4003000 USD
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28419000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28403000 shares
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28024000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28007000 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28408000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28305000 shares
us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our fiscal year ends on the Saturday closest to January&#160;31. References to the fiscal quarters ended </font><font style="font-family:inherit;font-size:10pt;">October&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">November&#160;1, 2014</font><font style="font-family:inherit;font-size:10pt;"> refer to the thirteen weeks ended as of those dates.</font></div></div>

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tlys-20151031.xml Edgar Link completed
tlys-20151031.xsd Edgar Link pending
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tlys-20151031_lab.xml Edgar Link unprocessable
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