$VNCE
VINCE HOLDING CORP.

2014 Q4 Form 10-Q Financial Statement

#000119312514441257 Filed on December 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q4
Revenue $102.9M $85.76M
YoY Change 20.05% 11.38%
Cost Of Revenue $52.30M $44.03M
YoY Change 18.77% -68.65%
Gross Profit $50.65M $41.72M
YoY Change 21.39% 18.81%
Gross Profit Margin 49.2% 48.65%
Selling, General & Admin $25.82M $24.19M
YoY Change 6.75% -47.18%
% of Gross Profit 50.98% 57.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.410M $740.0K
YoY Change 90.54% -59.56%
% of Gross Profit 2.78% 1.77%
Operating Expenses $25.82M $54.58M
YoY Change -52.7% 16.57%
Operating Profit $24.83M $17.54M
YoY Change 41.58% 9.01%
Interest Expense $2.235M $14.76M
YoY Change -84.86% -37.9%
% of Operating Profit 9.0% 84.17%
Other Income/Expense, Net -$72.00K -$125.0K
YoY Change -42.4% -79.47%
Pretax Income $22.52M $17.41M
YoY Change 29.35% -309.97%
Income Tax $9.212M $945.0K
% Of Pretax Income 40.9% 5.43%
Net Earnings $13.31M -$2.359M
YoY Change -664.26% -84.16%
Net Earnings / Revenue 12.93% -2.75%
Basic Earnings Per Share $0.36 -$0.09
Diluted Earnings Per Share $0.35 -$0.09
COMMON SHARES
Basic Shares Outstanding 36.73M shares 26.23M shares
Diluted Shares Outstanding 38.30M shares 26.68M shares

Balance Sheet

Concept 2014 Q4 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $1.700M
YoY Change -100.0%
Cash & Equivalents $34.00K $304.0K
Short-Term Investments
Other Short-Term Assets $7.300M $11.30M
YoY Change -35.4%
Inventory $52.73M $92.55M
Prepaid Expenses
Receivables $38.09M $123.1M
Other Receivables $0.00 $100.0K
Total Short-Term Assets $98.14M $228.7M
YoY Change -57.08%
LONG-TERM ASSETS
Property, Plant & Equipment $25.42M $24.26M
YoY Change 4.78%
Goodwill $63.75M $65.88M
YoY Change -3.23%
Intangibles $109.8M $144.0M
YoY Change -23.73%
Long-Term Investments
YoY Change
Other Assets $107.1M $7.500M
YoY Change 1328.0%
Total Long-Term Assets $306.1M $241.6M
YoY Change 26.71%
TOTAL ASSETS
Total Short-Term Assets $98.14M $228.7M
Total Long-Term Assets $306.1M $241.6M
Total Assets $404.2M $470.3M
YoY Change -14.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.14M $63.60M
YoY Change -55.75%
Accrued Expenses $13.70M $32.80M
YoY Change -58.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $122.3M
YoY Change -100.0%
Long-Term Debt Due $166.9M
YoY Change
Total Short-Term Liabilities $41.86M $386.8M
YoY Change -89.18%
LONG-TERM LIABILITIES
Long-Term Debt $122.5M $224.1M
YoY Change -45.35%
Other Long-Term Liabilities $168.9M $40.50M
YoY Change 317.1%
Total Long-Term Liabilities $291.4M $224.1M
YoY Change 30.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.86M $386.8M
Total Long-Term Liabilities $291.4M $224.1M
Total Liabilities $333.3M $611.0M
YoY Change -45.45%
SHAREHOLDERS EQUITY
Retained Earnings -$950.1M -$975.9M
YoY Change -2.64%
Common Stock $367.0K $263.0K
YoY Change 39.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $60.66M -$181.2M
YoY Change
Total Liabilities & Shareholders Equity $404.2M $470.3M
YoY Change -14.04%

Cashflow Statement

Concept 2014 Q4 2013 Q4
OPERATING ACTIVITIES
Net Income $13.31M -$2.359M
YoY Change -664.26% -84.16%
Depreciation, Depletion And Amortization $1.410M $740.0K
YoY Change 90.54% -59.56%
Cash From Operating Activities $25.03M -$730.0K
YoY Change -3528.77% -104.47%
INVESTING ACTIVITIES
Capital Expenditures -$7.960M -$4.020M
YoY Change 98.01% 64.08%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$2.410M
YoY Change -100.0% -161.32%
Cash From Investing Activities -$7.960M -$6.440M
YoY Change 23.6% -532.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.10M 6.690M
YoY Change -355.61% -139.63%
NET CHANGE
Cash From Operating Activities 25.03M -730.0K
Cash From Investing Activities -7.960M -6.440M
Cash From Financing Activities -17.10M 6.690M
Net Change In Cash -30.00K -480.0K
YoY Change -93.75% -151.61%
FREE CASH FLOW
Cash From Operating Activities $25.03M -$730.0K
Capital Expenditures -$7.960M -$4.020M
Free Cash Flow $32.99M $3.290M
YoY Change 902.74% -82.47%

Facts In Submission

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dei Document Type
DocumentType
10-Q
dei Entity Registrant Name
EntityRegistrantName
VINCE HOLDING CORP.
dei Trading Symbol
TradingSymbol
VNCE
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dei Document Period End Date
DocumentPeriodEndDate
2014-11-01
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
35.08
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
17.03
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Entity Central Index Key
EntityCentralIndexKey
0001579157
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segments
us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Gross Profit
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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us-gaap Payments For Fees
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us-gaap Increase Decrease In Receivables
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us-gaap Repayments Of Debt
RepaymentsOfDebt
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us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2100000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Other Nonoperating Income Expense
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us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Net Income Loss
NetIncomeLoss
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CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2013Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Cost Of Goods Sold
CostOfGoodsSold
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us-gaap Depreciation
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Interest Paid
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Selling General And Administrative Expense
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us-gaap Amortization Of Financing Costs
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912000
us-gaap Amortization Of Intangible Assets
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449000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
34000
us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3521000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
22600000
us-gaap Share Based Compensation
ShareBasedCompensation
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vnce Intercompany Profit
IntercompanyProfit
0
vnce Tax Receivable Agreement Termination Period
TaxReceivableAgreementTerminationPeriod
P10Y
vnce Operating Income Loss Before Unallocated Expenses
OperatingIncomeLossBeforeUnallocatedExpenses
84059000
vnce Non Cash Capital Additions In Accounts Payable Accrued And Other Current Liabilities
NonCashCapitalAdditionsInAccountsPayableAccruedAndOtherCurrentLiabilities
223000
CY2014 vnce Adjustment To Additional Paid In Capital Other
AdjustmentToAdditionalPaidInCapitalOther
73081000
CY2013Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.62
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26677773 shares
CY2013Q4 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
-0.71
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
CY2013Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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CY2013Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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26228605 shares
CY2013Q4 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-0.72
CY2013Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
43000
CY2013Q4 us-gaap Gross Profit
GrossProfit
41723000
CY2013Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
85755000
CY2013Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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CY2013Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-18827000
CY2013Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2013Q4 us-gaap Comprehensive Income Net Of Tax
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CY2013Q4 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
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CY2013Q4 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
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CY2013Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2013Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2013Q4 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
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CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
-2359000
CY2013Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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CY2013Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
149000
CY2013Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2013Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
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CY2013Q4 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
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CY2013Q4 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
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CY2013Q4 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
71000
CY2013Q4 vnce Disposal Group Including Discontinued Operation Selling General And Administrative Expenses
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CY2013Q4 vnce Disposal Group Including Discontinued Operation Other Income Expense Net
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CY2013Q4 vnce Operating Income Loss Before Unallocated Expenses
OperatingIncomeLossBeforeUnallocatedExpenses
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CY2013Q4 vnce Disposal Group Including Discontinued Operation Restructuring Environmental And Other Charges
DisposalGroupIncludingDiscontinuedOperationRestructuringEnvironmentalAndOtherCharges
124000
CY2013Q4 vnce Effective Income Tax Rate Discontinued Operations
EffectiveIncomeTaxRateDiscontinuedOperations
0.004 pure
CY2013Q4 vnce Discontinued Operation Impairment Of Long Lived Assets Excluding Goodwill
DiscontinuedOperationImpairmentOfLongLivedAssetsExcludingGoodwill
933000
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2014Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1574634 shares
CY2014Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.35
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38303603 shares
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2014Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36728969 shares
CY2014Q4 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
624000
CY2014Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
22523000
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
24830000
CY2014Q4 us-gaap Gross Profit
GrossProfit
50648000
CY2014Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
102947000
CY2014Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
7955000
CY2014Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
13311000
CY2014Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-72000
CY2014Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
13311000
CY2014Q4 us-gaap Interest Expense
InterestExpense
2235000
CY2014Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
25818000
CY2014Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
150000
CY2014Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9212000
CY2014Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
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CY2014Q4 us-gaap Share Based Compensation
ShareBasedCompensation
458000
CY2014Q4 vnce Reduction In Liability Under Tax Receivable Agreement
ReductionInLiabilityUnderTaxReceivableAgreement
1442000
CY2014Q4 vnce Operating Income Loss Before Unallocated Expenses
OperatingIncomeLossBeforeUnallocatedExpenses
36619000
CY2014Q4 vnce Reduction Of Pre Ipo Deferred Tax Assets Under Tax Receivable Agreement
ReductionOfPreIpoDeferredTaxAssetsUnderTaxReceivableAgreement
818000

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