10-Q Filing

TILE SHOP HOLDINGS, INC. CIK: 1552800 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001144204-13-027901`
Period End Date	20130331
Filing Date	20130510
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	tts-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 39 Cash Flow Statement 65

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.76M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.36M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.28M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$1.28M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$1.01M	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$46.89M	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$49.08M	USD	Point-in-time
Prepaid inventory	`OtherPrepaidExpenseCurrent`	$6.05M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid inventory	`OtherPrepaidExpenseCurrent`	$6.88M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	43.18M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	48.04M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.17M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.02M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	48.04M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$2.53M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	43.18M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.53M	shares	Point-in-time
Deferred tax assets - current	`DeferredTaxAssetsLiabilitiesNetCurrent`	$9.36M	USD	Point-in-time
Deferred tax assets - current	`DeferredTaxAssetsLiabilitiesNetCurrent`	$9.36M	USD	Point-in-time
Other current assets, net	`OtherAssetsCurrent`	$3.86M	USD	Point-in-time
Other current assets, net	`OtherAssetsCurrent`	$966.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$71.81M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$88.39M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$91.59M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$82.08M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$20.86M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$21.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.32M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.31M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$202.44M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$176.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.87M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$3.86M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$3.86M	USD	Point-in-time
Accrued wages and salaries	`EmployeeRelatedLiabilitiesCurrent`	$2.91M	USD	Point-in-time
Accrued wages and salaries	`EmployeeRelatedLiabilitiesCurrent`	$3.67M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$7.73M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$10.72M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$1.68M	USD	Point-in-time
Current portion of capital lease obligation	`CapitalLeaseObligationsCurrent`	$245.00K	USD	Point-in-time
Current portion of capital lease obligation	`CapitalLeaseObligationsCurrent`	$234.00K	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityCurrent`	$6.17M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityCurrent`	$6.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$35.88M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$69.31M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$63.31M	USD	Point-in-time
Capital lease obligation, net	`CapitalLeaseObligationsNoncurrent`	$1.42M	USD	Point-in-time
Capital lease obligation, net	`CapitalLeaseObligationsNoncurrent`	$1.35M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$20.41M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$18.58M	USD	Point-in-time
Warrant liability	`OtherLiabilitiesNoncurrent`	$95.64M	USD	Point-in-time
Warrant liability	`OtherLiabilitiesNoncurrent`	$37.49M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$165.78M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$220.84M	USD	Point-in-time
Common stock, par value 0.0001; authorized: 100,000,000 shares; issued: 48,036,241, and 43,177,822 shares	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, par value 0.0001; authorized: 100,000,000 shares; issued: 48,036,241, and 43,177,822 shares	`CommonStockValue`	$4.00K	USD	Point-in-time
Preferred stock, par value $.0001; authorized: 10,000,000 shares; issued 0 shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.0001; authorized: 10,000,000 shares; issued 0 shares	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$135.57M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$9.43M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-98.92M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-54.20M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-44.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$36.66M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$176.07M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$202.44M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$45.86M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$56.84M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$12.17M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$16.46M	USD	1 Quarter
Gross profit	`GrossProfit`	$40.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$33.69M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$28.35M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$22.06M	USD	1 Quarter
Deferred compensation expense	`DeferredCompensationArrangementWithIndividualCompensationExpense`	-	USD	1 Quarter
Deferred compensation expense	`DeferredCompensationArrangementWithIndividualCompensationExpense`	$1.16M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.02M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$10.46M	USD	1 Quarter
Interest expense	`InterestExpense`	$594.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$90.00K	USD	1 Quarter
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	-	USD	1 Quarter
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$82.00M	USD	Annual
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$-51.84M	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$-33.00K	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-40.45M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.38M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$248.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.26M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$10.13M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-44.72M	USD	1 Quarter
Weighted average basic and diluted shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	44.85M	shares	1 Quarter
Weighted average basic and diluted shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.00M	shares	1 Quarter
Basic and diluted (loss) income earnings per share	`EarningsPerShareBasicAndDiluted`	$0.32	USD	1 Quarter
Basic and diluted (loss) income earnings per share	`EarningsPerShareBasicAndDiluted`	$-1.00	USD	1 Quarter
Historical income before income taxes	`ProFormaIncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Historical income before income taxes	`ProFormaIncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.38M	USD	1 Quarter
Pro forma provision for income taxes	`ProFormaIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Pro forma provision for income taxes	`ProFormaIncomeTaxExpenseBenefit`	$4.15M	USD	1 Quarter
Pro forma net income	`ProFormaNetIncomeLoss`	$6.23M	USD	1 Quarter
Pro forma net income	`ProFormaNetIncomeLoss`	-	USD	1 Quarter
Pro forma weighted average basic and diluted shares outstanding	`ProFormaWeightedAverageSharesOutstandingBasicAndDiluted`	-	shares	1 Quarter
Pro forma weighted average basic and diluted shares outstanding	`ProFormaWeightedAverageSharesOutstandingBasicAndDiluted`	42.53M	shares	1 Quarter
Pro forma basic and diluted income earnings per share	`ProFormaEarningsPerShareBasicAndDiluted`	$0.15	USD	1 Quarter
Pro forma basic and diluted income earnings per share	`ProFormaEarningsPerShareBasicAndDiluted`	-	USD	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$10.13M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-44.72M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfDebtDiscountPremium`	$30.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.04M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.24M	USD	1 Quarter
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-45.00K	USD	1 Quarter
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	-	USD	1 Quarter
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$82.00M	USD	Annual
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$-51.84M	USD	1 Quarter
Deferred rent	`OtherNoncashExpense`	$1.83M	USD	1 Quarter
Deferred rent	`OtherNoncashExpense`	$1.58M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$1.09M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-281.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$379.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$273.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.19M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.82M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-368.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$568.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$446.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.93M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$149.00K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	-	USD	1 Quarter
Income tax receivable/ payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$4.21M	USD	1 Quarter
Income tax receivable/ payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.15M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$3.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.26M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$19.84M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.47M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.14M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.47M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.14M	USD	1 Quarter
Payments of long-term debt and capital lease obligations	`RepaymentsOfDebt`	$100.00K	USD	1 Quarter
Payments of long-term debt and capital lease obligations	`RepaymentsOfDebt`	$6.06M	USD	1 Quarter
Distributions to members	`PaymentsOfCapitalDistribution`	$4.19M	USD	1 Quarter
Distributions to members	`PaymentsOfCapitalDistribution`	-	USD	1 Quarter
Repurchase of warrants	`PaymentsForRepurchaseOfWarrants`	-	USD	1 Quarter
Repurchase of warrants	`PaymentsForRepurchaseOfWarrants`	$30.11M	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantsExercised`	-	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantsExercised`	$41.82M	USD	1 Quarter
Security deposit	`PaymentsForDeposits`	$-4.00K	USD	1 Quarter
Security deposit	`PaymentsForDeposits`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.29M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.66M	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$12.78M	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.07M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.76M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.36M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.28M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.76M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.36M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.28M	USD	Point-in-time
Reclassification of warrants from liability to equity	`DebtConversionConvertedInstrumentAmount1`	-	USD	1 Quarter
Reclassification of warrants from liability to equity	`DebtConversionConvertedInstrumentAmount1`	$110.00M	USD	1 Quarter
Increase in other assets for exercise of warrants	`IncreaseInOtherAssetsForExerciseOfWarrants`	-	USD	1 Quarter
Increase in other assets for exercise of warrants	`IncreaseInOtherAssetsForExerciseOfWarrants`	$3.33M	USD	1 Quarter
Purchases of property, plant and equipment included in accounts payable and accrued expenses	`PurchaseOfPropertyPlantEquipmentIncludedInAccountsPayableAndAccruedExpenses`	-	USD	1 Quarter
Purchases of property, plant and equipment included in accounts payable and accrued expenses	`PurchaseOfPropertyPlantEquipmentIncludedInAccountsPayableAndAccruedExpenses`	$1.46M	USD	1 Quarter

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