$VNCE
VINCE HOLDING CORP.

2018 Q4 Form 10-Q Financial Statement

#000156459018030892 Filed on December 13, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4
Revenue $83.53M $79.07M
YoY Change 5.64% 4.07%
Cost Of Revenue $42.71M $42.40M
YoY Change 0.73% 11.53%
Gross Profit $40.82M $36.67M
YoY Change 11.32% -3.4%
Gross Profit Margin 48.87% 46.37%
Selling, General & Admin $31.85M $31.36M
YoY Change 1.57% -1.68%
% of Gross Profit 78.03% 85.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.020M $2.510M
YoY Change -19.52% 13.57%
% of Gross Profit 4.95% 6.85%
Operating Expenses $31.85M $31.36M
YoY Change 1.57% -1.68%
Operating Profit $8.967M $5.309M
YoY Change 68.9% -12.44%
Interest Expense -$2.200M -$1.700M
YoY Change 29.41% -266.18%
% of Operating Profit -24.53% -32.02%
Other Income/Expense, Net -$100.0K -$100.0K
YoY Change 0.0% -50.0%
Pretax Income $6.700M $3.503M
YoY Change 91.26% -27.76%
Income Tax -$30.00K -$6.000K
% Of Pretax Income -0.45% -0.17%
Net Earnings $6.765M $3.509M
YoY Change 92.79% 3.82%
Net Earnings / Revenue 8.1% 4.44%
Basic Earnings Per Share $0.58 $0.41
Diluted Earnings Per Share $0.57 $0.41
COMMON SHARES
Basic Shares Outstanding 11.62M 8.611M
Diluted Shares Outstanding 11.85M 8.611M

Balance Sheet

Concept 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.100M $5.700M
YoY Change -80.7% -72.46%
Cash & Equivalents $1.050M $5.796M
Short-Term Investments
Other Short-Term Assets $6.400M $4.000M
YoY Change 60.0% -54.02%
Inventory $61.52M $51.40M
Prepaid Expenses
Receivables $32.32M $31.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $101.3M $92.40M
YoY Change 9.59% 14.82%
LONG-TERM ASSETS
Property, Plant & Equipment $28.16M $38.80M
YoY Change -27.43% -15.83%
Goodwill $41.44M
YoY Change
Intangibles $76.65M
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.400M $2.800M
YoY Change 21.43% -97.13%
Total Long-Term Assets $149.6M $160.3M
YoY Change -6.65% -49.25%
TOTAL ASSETS
Total Short-Term Assets $101.3M $92.40M
Total Long-Term Assets $149.6M $160.3M
Total Assets $250.9M $252.7M
YoY Change -0.71% -36.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.10M $15.70M
YoY Change 72.61% -34.01%
Accrued Expenses $16.00M $16.60M
YoY Change -3.61% 3.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.800M $9.000M
YoY Change -68.89%
Total Short-Term Liabilities $45.80M $41.30M
YoY Change 10.9% 3.89%
LONG-TERM LIABILITIES
Long-Term Debt $58.70M $57.60M
YoY Change 1.91% 13.53%
Other Long-Term Liabilities $73.40M $153.8M
YoY Change -52.28% 9.2%
Total Long-Term Liabilities $132.1M $211.4M
YoY Change -37.51% 10.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.80M $41.30M
Total Long-Term Liabilities $132.1M $211.4M
Total Liabilities $177.9M $252.7M
YoY Change -29.6% 9.24%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $73.02M $100.0K
YoY Change
Total Liabilities & Shareholders Equity $250.9M $252.7M
YoY Change -0.71% -36.24%

Cashflow Statement

Concept 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income $6.765M $3.509M
YoY Change 92.79% 3.82%
Depreciation, Depletion And Amortization $2.020M $2.510M
YoY Change -19.52% 13.57%
Cash From Operating Activities $700.0K -$20.85M
YoY Change -103.36% -951.02%
INVESTING ACTIVITIES
Capital Expenditures -$1.270M -$300.0K
YoY Change 323.33% -91.07%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.270M -$300.0K
YoY Change 323.33% -91.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.760M 23.08M
YoY Change -116.29% 8448.15%
NET CHANGE
Cash From Operating Activities 700.0K -20.85M
Cash From Investing Activities -1.270M -300.0K
Cash From Financing Activities -3.760M 23.08M
Net Change In Cash -4.330M 1.930M
YoY Change -324.35% -401.56%
FREE CASH FLOW
Cash From Operating Activities $700.0K -$20.85M
Capital Expenditures -$1.270M -$300.0K
Free Cash Flow $1.970M -$20.55M
YoY Change -109.59% -453.7%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(A) Description of Business:<font style="font-weight:normal;"> Established in 2002, Vince is a global luxury apparel and accessories brand best known for creating elevated yet understated pieces for every day. The collections are inspired by the brand&#8217;s California origins and embody a feeling of warm and effortless style.&#160;Vince designs uncomplicated yet refined pieces that approach dressing with a sense of ease.&#160; Known for its range of luxury products, Vince offers women&#8217;s and men&#8217;s ready-to-wear and footwear as well as capsule collection of handbags, and home for a global lifestyle. The Company reaches its customers through a variety of channels, specifically through major wholesale department stores and specialty stores in the United States (&#8220;U.S.&#8221;) and select international markets, as well as through the Company&#8217;s branded retail locations and the Company&#8217;s website. The Company designs products in the U.S. and sources the vast majority of products from contract manufacturers outside the U.S., primarily in Asia. Products are manufactured to meet the Company&#8217;s product specifications and labor standards. </font></p>
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0
CY2018Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
226594
CY2017Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
439
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
117831
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
189060
CY2018Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
10000
CY2018Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
73000
CY2018Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
61515000
CY2018Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
48921000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
170757
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
170553
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
204
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1253000
CY2018Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
52000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2

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