$WHLM
Wilhelmina International, Inc.

2020 Q1 Form 10-Q Financial Statement

#000117184320003729 Filed on May 14, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1 2018 Q4
Revenue $14.55M $20.06M $18.39M
YoY Change -27.45% 1.74% 7.92%
Cost Of Revenue $10.61M $14.48M $13.08M
YoY Change -26.73% 4.58% 5.74%
Gross Profit $3.946M $5.583M $5.310M
YoY Change -29.32% -4.95% 13.46%
Gross Profit Margin 27.12% 27.83% 28.87%
Selling, General & Admin $4.490M $5.280M $4.840M
YoY Change -14.96% 0.19% -4.16%
% of Gross Profit 113.79% 94.57% 91.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $294.0K $290.0K $260.0K
YoY Change 1.38% 22.88% 8.33%
% of Gross Profit 7.45% 5.19% 4.9%
Operating Expenses $5.585M $5.566M $5.100M
YoY Change 0.34% 1.02% -3.41%
Operating Profit -$1.639M $17.00K $210.0K
YoY Change -9741.18% -95.33% -135.0%
Interest Expense $27.00K $32.00K -$50.00K
YoY Change -15.63% 28.0% 25.0%
% of Operating Profit 188.24% -23.81%
Other Income/Expense, Net $38.00K -$47.00K
YoY Change -180.85% 4.44%
Pretax Income -$1.601M -$30.00K $160.0K
YoY Change 5236.67% -109.4% -124.62%
Income Tax $1.059M $79.00K $100.0K
% Of Pretax Income 62.5%
Net Earnings -$2.660M -$109.0K $60.00K
YoY Change 2340.37% -148.44% -66.67%
Net Earnings / Revenue -18.28% -0.54% 0.33%
Basic Earnings Per Share -$0.52 -$0.02
Diluted Earnings Per Share -$0.52 -$0.02 $11.43K
COMMON SHARES
Basic Shares Outstanding 5.160K 5.205K
Diluted Shares Outstanding 5.160K 5.205K

Balance Sheet

Concept 2020 Q1 2019 Q1 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.300M $6.300M $6.700M
YoY Change -15.87% 75.0% 55.81%
Cash & Equivalents $5.309M $6.260M $6.748M
Short-Term Investments
Other Short-Term Assets $300.0K $300.0K $200.0K
YoY Change 0.0% 50.0% 0.0%
Inventory
Prepaid Expenses
Receivables $8.845M $12.94M $11.90M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $14.44M $19.50M $18.85M
YoY Change -25.94% 2.92% 4.33%
LONG-TERM ASSETS
Property, Plant & Equipment $1.711M $2.411M $2.567M
YoY Change -29.03% -19.2% -15.53%
Goodwill $7.547M $13.19M $13.19M
YoY Change -42.79% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $113.0K $115.0K $114.0K
YoY Change -1.74% -12.88% -16.79%
Total Long-Term Assets $19.13M $26.54M $24.39M
YoY Change -27.91% 6.67% -2.28%
TOTAL ASSETS
Total Short-Term Assets $14.44M $19.50M $18.85M
Total Long-Term Assets $19.13M $26.54M $24.39M
Total Assets $33.58M $46.05M $43.24M
YoY Change -27.08% 5.05% 0.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.400M $4.900M $5.100M
YoY Change -30.61% 19.51% 27.5%
Accrued Expenses $1.000M $1.100M
YoY Change -9.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.119M $674.0K $623.0K
YoY Change 66.02% 27.17% 18.89%
Total Short-Term Liabilities $12.37M $16.25M $14.50M
YoY Change -23.87% 6.29% -1.33%
LONG-TERM LIABILITIES
Long-Term Debt $695.0K $1.813M $2.000M
YoY Change -61.67% 21.84% 23.23%
Other Long-Term Liabilities $100.0K $1.200M
YoY Change -91.67%
Total Long-Term Liabilities $2.742M $3.732M $2.631M
YoY Change -26.53% 84.75% 22.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.37M $16.25M $14.50M
Total Long-Term Liabilities $2.742M $3.732M $2.631M
Total Liabilities $15.11M $19.98M $17.13M
YoY Change -24.36% 15.44% 1.73%
SHAREHOLDERS EQUITY
Retained Earnings -$63.48M -$56.14M -$56.03M
YoY Change 13.07% -0.92% -1.5%
Common Stock $88.54M $88.38M $88.32M
YoY Change 0.18% 0.36% 0.41%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.371M $6.117M $6.093M
YoY Change 4.15% 24.1% 24.52%
Treasury Stock Shares $1.315M $1.268M $1.264M
Shareholders Equity $18.46M $26.06M $26.11M
YoY Change
Total Liabilities & Shareholders Equity $33.58M $46.05M $43.24M
YoY Change -27.08% 5.05% 0.5%

Cashflow Statement

Concept 2020 Q1 2019 Q1 2018 Q4
OPERATING ACTIVITIES
Net Income -$2.660M -$109.0K $60.00K
YoY Change 2340.37% -148.44% -66.67%
Depreciation, Depletion And Amortization $294.0K $290.0K $260.0K
YoY Change 1.38% 22.88% 8.33%
Cash From Operating Activities -$1.168M -$234.0K $2.030M
YoY Change 399.15% -42.65% 10.93%
INVESTING ACTIVITIES
Capital Expenditures $56.00K $95.00K -$150.0K
YoY Change -41.05% -41.36% 150.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$56.00K -$95.00K -$150.0K
YoY Change -41.05% -41.36% 150.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $19.00K $24.00K
YoY Change -20.83% -33.33%
Debt Paid & Issued, Net $186.0K $136.0K
YoY Change 36.76% 5.43%
Cash From Financing Activities -226.0K -187.0K -240.0K
YoY Change 20.86% 13.33% 84.62%
NET CHANGE
Cash From Operating Activities -1.168M -234.0K 2.030M
Cash From Investing Activities -56.00K -95.00K -150.0K
Cash From Financing Activities -226.0K -187.0K -240.0K
Net Change In Cash -1.684M -516.0K 1.640M
YoY Change 226.36% -29.8% 0.0%
FREE CASH FLOW
Cash From Operating Activities -$1.168M -$234.0K $2.030M
Capital Expenditures $56.00K $95.00K -$150.0K
Free Cash Flow -$1.224M -$329.0K $2.180M
YoY Change 272.04% -42.28% 15.34%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2019Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3815000
CY2020Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3377000
CY2020Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
8845000
CY2019Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
9441000
CY2020Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4570000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4300000
CY2020Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-232000
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
2000
CY2020Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
88477000
CY2019Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
88471000
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
64000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6000
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1543000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1423000
CY2020Q1 us-gaap Assets
Assets
33577000
CY2019Q4 us-gaap Assets
Assets
37108000
CY2020Q1 us-gaap Assets Current
AssetsCurrent
14443000
CY2019Q4 us-gaap Assets Current
AssetsCurrent
16677000
CY2020Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note <div style="display: inline; font-style: italic; font: inherit;">2.</div>&nbsp;&nbsp;Business </div></div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">The primary business of Wilhelmina is fashion model management. These business operations are headquartered in New York City. The Company&#x2019;s predecessor was founded in <div style="display: inline; font-style: italic; font: inherit;">1967</div> by Wilhelmina Cooper, a renowned fashion model, and became <div style="display: inline; font-style: italic; font: inherit;">one</div> of the oldest, best known and largest fashion model management companies in the world. Since its founding, Wilhelmina has grown to include operations located in Los Angeles, Miami, Chicago and London, as well as a network of licensees in various local markets in the U.S. and internationally. Wilhelmina provides traditional, full-service fashion model and talent management services, specializing in the representation and management of models, entertainers, artists, athletes and other talent, to various clients, including retailers, designers, advertising agencies, print and electronic media and catalog companies.</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0"><div style="display: inline; font-weight: bold;">COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> Pandemic</div></div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">On <div style="display: inline; font-style: italic; font: inherit;"> March 11, 2020, </div>the World Health Organization declared the outbreak of novel coronavirus (COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div>) as a pandemic, which has spread rapidly throughout the United States and the world. The Company&#x2019;s revenues are heavily dependent on the level of economic activity in the United States and the United Kingdom, particularly in the fashion, advertising and publishing industries, all of which have been negatively impacted by the pandemic and <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> recover as quickly as other sectors of the economy. There have been mandates from federal, state, and local authorities requiring forced closures of non-essential businesses. As a result, beginning in <div style="display: inline; font-style: italic; font: inherit;"> March 2020, </div>the Company has seen a significant reduction in customer bookings, resulting in a negative impact to revenue and earnings.</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">In addition to reduced revenue, business operations have been adversely affected by reductions in productivity, limitations on the ability of customers to make timely payments, disruptions in talents&#x2019; ability to travel to needed locations, and supply chain disruptions impeding clothing or footwear wardrobe from reaching destinations for photoshoots and other bookings. Many of the Company&#x2019;s customers are large retail and fashion companies which have had to close stores in the United States and internationally due to orders from local authorities to help slow the spread of COVID-<div style="display: inline; font-style: italic; font: inherit;">19.</div> Some of these customers <div style="display: inline; font-style: italic; font: inherit;"> may </div>be unable to pay amounts already owed to the Company, resulting in increased future bad debt expense. These customers also <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> emerge from the pandemic with the financial capability, or need, to purchase Wilhelmina&#x2019;s services to the extent that they did in previous years. Some of our model talent are currently quarantined with family far from the major cities where Wilhelmina&#x2019;s offices are located, and also away from where most modeling jobs take place. Many U.S. and international airlines have decreased their flight schedules which, once economic activities resume and clients increase booking requests, <div style="display: inline; font-style: italic; font: inherit;"> may </div>make it difficult for our talent to be available when and where they are needed. While these disruptions are currently expected to be temporary, there is uncertainty around the duration.</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Postponed and cancelled bookings related to the pandemic contributed significantly to reduced revenues and increased operating losses during the <div style="display: inline; font-style: italic; font: inherit;">first</div> quarter of <div style="display: inline; font-style: italic; font: inherit;">2020.</div> Subsequent periods <div style="display: inline; font-style: italic; font: inherit;"> may </div>show similar or greater declines until business conditions improve. Since Wilhelmina extends customary payment terms to its clients, even when bookings resume there is likely to be a lag before significant cash collections return. In the meantime, the Company will continue to have significant employee, office rent, and other expenses.</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></div> <!-- Field: Page; Sequence: 7; Value: 1 --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Reduced outstanding accounts receivable available as collateral under the Company&#x2019;s credit agreement with Amegy Bank has limited access to additional financing. Net losses in recent periods have also impacted compliance with the financial covenants under the Amegy Bank credit agreement, further impeding the Company&#x2019;s ability to obtain additional financing.. Since the pandemic began, many stock markets, including Nasdaq Capital Market, where Wilhelmina&#x2019;s common stock is listed, have been volatile. A further decline in the Company&#x2019;s stock price would reduce our market capitalization and could require additional goodwill or intangible asset impairment writedowns.</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has taken the following actions to address the impact of COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> and the current recessionary environment, in order to efficiently manage the business and maintain adequate liquidity and maximum flexibility:</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</div> <table style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top"> <td style="width: 0.5in"></td> <td style="width: 0.25in">-</td> <td style="text-align: justify">In <div style="display: inline; font-style: italic; font: inherit;"> April 2020, </div>obtained <div style="display: inline; font-style: italic; font: inherit;">$1.9</div> million in loans under the Paycheck Protection Program (the &#x201c;PPP&#x201d;) of the Coronavirus Aid, Relief, and Economic Security Act (the &#x201c;CARES Act&#x201d;) administered by the U.S. Small Business Administration (&#x201c;SBA&#x201d;).</td> </tr> </table> <table style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top"> <td style="width: 0.5in"></td> <td style="width: 0.25in">-</td> <td style="text-align: justify">Temporarily furloughed <div style="display: inline; font-style: italic; font: inherit;">five</div> employees based in Wilhelmina&#x2019;s London office.</td> </tr> </table> <table style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top"> <td style="width: 0.5in"></td> <td style="width: 0.25in">-</td> <td style="text-align: justify">Eliminated all discretionary travel and entertainment expenses.</td> </tr> </table> <table style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top"> <td style="width: 0.5in"></td> <td style="width: 0.25in">-</td> <td style="text-align: justify">Suspended share repurchases.</td> </tr> </table> <table style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top"> <td style="width: 0.5in"></td> <td style="width: 0.25in">-</td> <td style="text-align: justify">Made plans <div style="display: inline; font-style: italic; font: inherit;">not</div> to extend the lease on <div style="display: inline; font-style: italic; font: inherit;">one</div> New York City model apartment when the current term ends in <div style="display: inline; font-style: italic; font: inherit;"> June, 2020.</div></td> </tr> </table> <table style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top"> <td style="width: 0.5in"></td> <td style="width: 0.25in">-</td> <td style="text-align: justify">Suspended efforts to fill <div style="display: inline; font-style: italic; font: inherit;">two</div> highly compensated executive roles following the resignation of the Company&#x2019;s Chief Executive Officer and Vice President in early <div style="display: inline; font-style: italic; font: inherit;">2020.</div></td> </tr> </table> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the current quarantines and limitations on non-essential work persist for an extended period, the Company <div style="display: inline; font-style: italic; font: inherit;"> may </div>need to implement more significant cost savings measures.</div></div>
CY2019Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
16000
CY2020Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1200000
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
294000
CY2019Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
290000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
294000
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
290000
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.52
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6993000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6748000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5309000
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6260000
CY2020Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1684000
CY2019Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-488000
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
9000000
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
9000000
CY2020Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6472038
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6472038
CY2020Q1 us-gaap Common Stock Value
CommonStockValue
65000
CY2019Q4 us-gaap Common Stock Value
CommonStockValue
65000
CY2020Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2894000
CY2019Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-81000
CY2020Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
10606000
CY2019Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
14476000
CY2020Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
59000
CY2019Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
63000
CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1000000
CY2019Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
16000
CY2020Q1 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
1725000
CY2019Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
725000
CY2020Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
1000000
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.52
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-234000
CY2019Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
28000
CY2020Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
96000
CY2019Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
94000
CY2020Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
201000
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
225000
CY2020Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
21000
CY2019Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
27000
CY2019Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1000
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
46000
CY2019Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
105000
CY2020Q1 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
8467000
CY2019Q4 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
8467000
CY2020Q1 us-gaap Interest Expense
InterestExpense
27000
CY2020Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
291000
CY2019Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
316000
CY2020Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8737000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8737000
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
CY2020Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
65000
CY2019Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-15000
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1055000
CY2019Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1228000
CY2020Q1 us-gaap Goodwill
Goodwill
7547000
CY2019Q4 us-gaap Goodwill
Goodwill
8347000
CY2020Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
800000
CY2019Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020Q1 us-gaap Gross Profit
GrossProfit
3946000
CY2019Q1 us-gaap Gross Profit
GrossProfit
5583000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1601000
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-30000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1059000
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
79000
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
CY2019Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-438000
CY2019Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2000
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-560000
CY2019Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1063000
CY2020Q1 us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
-698000
CY2019Q1 us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
671000
CY2020Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2000
CY2019Q1 us-gaap Interest Expense
InterestExpense
32000
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
24000
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
30000
CY2020Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
3127000
CY2019Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
3716000
CY2020Q1 us-gaap Liabilities
Liabilities
15113000
CY2019Q4 us-gaap Liabilities
Liabilities
15737000
CY2020Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
33577000
CY2019Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
37108000
CY2020Q1 us-gaap Liabilities Current
LiabilitiesCurrent
12371000
CY2019Q4 us-gaap Liabilities Current
LiabilitiesCurrent
13716000
CY2020Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
2742000
CY2019Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
2021000
CY2020Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
1119000
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1257000
CY2020Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
695000
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
743000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-226000
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-187000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-56000
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-95000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1168000
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-234000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-109000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-2660000
CY2020Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
38000
CY2019Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-47000
CY2020Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
4
CY2020Q1 us-gaap Operating Expenses
OperatingExpenses
5585000
CY2019Q1 us-gaap Operating Expenses
OperatingExpenses
5566000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-1639000
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
17000
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
982000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1055000
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
121000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
328000
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1005000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1261000
CY2020Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
113000
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
115000
CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
28000
CY2020Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-234000
CY2020Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
309000
CY2019Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
332000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
19000
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
24000
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
56000
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
95000
CY2020Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
289000
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
243000
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1711000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1925000
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
36000
CY2019Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
24000
CY2020Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
186000
CY2019Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
136000
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-63475000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-60815000
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
14552000
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
20059000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6000
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
64000
CY2012Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
500000
CY2013Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1000000
CY2016Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1500000
CY2020Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
185306
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
26105000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
26064000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
21371000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
18464000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5160
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5205
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5160
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5205
CY2020Q1 whlm Due To Models Current
DueToModelsCurrent
6797000
CY2019Q4 whlm Due To Models Current
DueToModelsCurrent
7495000
CY2020Q1 whlm Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-280000
CY2019Q1 whlm Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-289000
CY2020Q1 whlm Increase Decrease In Operating Right Of Use Assets
IncreaseDecreaseInOperatingRightOfUseAssets
-256000
CY2019Q1 whlm Increase Decrease In Operating Right Of Use Assets
IncreaseDecreaseInOperatingRightOfUseAssets
-270000
CY2016 whlm Stock Repurchase Program Additional Shares Authorized
StockRepurchaseProgramAdditionalSharesAuthorized
500000
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
4.85
CY2020Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1314694
CY2019Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1309861
CY2018Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
100000
CY2018Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
50000
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1314694
CY2020Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
4833
CY2020Q1 us-gaap Treasury Stock Value
TreasuryStockValue
6371000
CY2019Q4 us-gaap Treasury Stock Value
TreasuryStockValue
6352000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
6400000
CY2020Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
19000
CY2019Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
24000
CY2020Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1200000

Files In Submission

Name View Source Status
0001171843-20-003729-index-headers.html Edgar Link pending
0001171843-20-003729-index.html Edgar Link pending
0001171843-20-003729.txt Edgar Link pending
0001171843-20-003729-xbrl.zip Edgar Link pending
exh_102.htm Edgar Link pending
exh_311.htm Edgar Link pending
exh_312.htm Edgar Link pending
exh_321.htm Edgar Link pending
exh_322.htm Edgar Link pending
f10q_051420p.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
whlm-20200331.xml Edgar Link completed
whlm-20200331.xsd Edgar Link pending
whlm-20200331_cal.xml Edgar Link unprocessable
whlm-20200331_def.xml Edgar Link unprocessable
whlm-20200331_lab.xml Edgar Link unprocessable
whlm-20200331_pre.xml Edgar Link unprocessable