10-Q Filing

HIBBETT INC CIK: 1017480 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0001017480-11-000031`
Period End Date	20110430
Filing Date	20110603
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	hibb-20110430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 28 Cash Flow Statement 38

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$71.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$75.52M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$85.34M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$174.88M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$174.73M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.77M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$18.95M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$273.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$269.34M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$146.50M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$144.26M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.13M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.29M	shares	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$106.75M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$104.21M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$40.06M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	9.22M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$39.75M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	9.96M	shares	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$5.24M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$4.87M	USD	Point-in-time
Total Assets	`Assets`	$314.26M	USD	Point-in-time
Total Assets	`Assets`	$318.83M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$75.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$78.50M	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$4.47M	USD	Point-in-time
Accrued payroll expenses	`EmployeeRelatedLiabilitiesCurrent`	$9.82M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$3.96M	USD	Point-in-time
Deferred rent	`DeferredRentCreditCurrent`	$4.03M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$6.71M	USD	Point-in-time
Short-term debt and capital lease obligations	`ShortTermBorrowings`	$280.00K	USD	Point-in-time
Short-term debt and capital lease obligations	`ShortTermBorrowings`	$312.00K	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$4.19M	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$4.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$94.33M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$98.08M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$12.82M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$12.24M	USD	Point-in-time
Other liabilities, net	`OtherLiabilitiesNoncurrent`	$7.03M	USD	Point-in-time
Other liabilities, net	`OtherLiabilitiesNoncurrent`	$6.42M	USD	Point-in-time
Total liabilities	`Liabilities`	$114.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$116.74M	USD	Point-in-time
Preferred stock, $.01 par value, 1,000,000 shares authorized, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value, 1,000,000 shares authorized, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value, 80,000,000 shares authorized, 37,288,580 and 37,130,646 shares issued at April 30, 2011 and January 29, 2011, respectively	`CommonStockValue`	$373.00K	USD	Point-in-time
Common stock, $.01 par value, 80,000,000 shares authorized, 37,288,580 and 37,130,646 shares issued at April 30, 2011 and January 29, 2011, respectively	`CommonStockValue`	$371.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$118.90M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$114.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$311.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$289.95M	USD	Point-in-time
Treasury stock, at cost; 9,955,585 and 9,223,038 shares repurchased at April 30, 2011 and January 29, 2011, respectively	`TreasuryStockValue`	$204.80M	USD	Point-in-time
Treasury stock, at cost; 9,955,585 and 9,223,038 shares repurchased at April 30, 2011 and January 29, 2011, respectively	`TreasuryStockValue`	$228.48M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$200.09M	USD	Point-in-time
Total stockholders' investment	`StockholdersEquity`	$202.09M	USD	Point-in-time
Total Liabilities and Stockholders' Investment	`LiabilitiesAndStockholdersEquity`	$314.26M	USD	Point-in-time
Total Liabilities and Stockholders' Investment	`LiabilitiesAndStockholdersEquity`	$318.83M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$184.51M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$203.66M	USD	1 Quarter
Cost of goods sold, including distribution center and store occupancy costs	`CostOfGoodsSold`	$127.86M	USD	1 Quarter
Cost of goods sold, including distribution center and store occupancy costs	`CostOfGoodsSold`	$118.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$75.79M	USD	1 Quarter
Gross profit	`GrossProfit`	$66.11M	USD	1 Quarter
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$34.94M	USD	1 Quarter
Store operating, selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$38.37M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.28M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.49M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$34.14M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$27.68M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$56.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$6.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$34.09M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$27.67M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$10.33M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$12.75M	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.34M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.60	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.78	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.76	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.59	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.45M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.75M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.97M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.36M	shares	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$17.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.34M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.28M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.49M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.84M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.49M	USD	1 Quarter
Other non-cash adjustments to net income	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$-732.00K	USD	1 Quarter
Other non-cash adjustments to net income	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$1.02M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-1.30M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$8.05M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$20.29M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$35.53M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.27M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$3.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$262.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$187.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.46M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.27M	USD	1 Quarter
Cash used for stock repurchases	`PaymentsForRepurchaseOfEquity`	$22.58M	USD	1 Quarter
Cash used for stock repurchases	`PaymentsForRepurchaseOfEquity`	-	USD	1 Quarter
Net payments on revolving credit facility and capital lease obligations	`RepaymentsOfLinesOfCreditProceedsFromLinesOfCredit`	$-26.00K	USD	1 Quarter
Net payments on revolving credit facility and capital lease obligations	`RepaymentsOfLinesOfCreditProceedsFromLinesOfCredit`	$-73.00K	USD	1 Quarter
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansAndProceedsFromStockOptionsExercised`	$954.00K	USD	1 Quarter
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansAndProceedsFromStockOptionsExercised`	$2.04M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-738.00K	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$818.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-22.43M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.83M	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$21.66M	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.83M	USD	1 Quarter
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$71.35M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$75.52M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$49.69M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$85.34M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$71.35M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$75.52M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$49.69M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$85.34M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.