10-Q Filing

TILE SHOP HOLDINGS, INC. CIK: 1552800 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001437749-14-008594`
Period End Date	20140331
Filing Date	20140509
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	tts-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 30 Cash Flow Statement 57

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.29M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.23M	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$1.20M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$1.51M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.24M	shares	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$66.28M	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$72.07M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$9.53M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$4.01M	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
Deferred tax and other current assets, net	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$6.15M	USD	Point-in-time
Deferred tax and other current assets, net	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$7.15M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$91.70M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$82.24M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$132.45M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$125.32M	USD	Point-in-time
Deferred taxes and other assets	`DeferredIncomeTaxesAndOtherAssetsNoncurrent`	$25.75M	USD	Point-in-time
Deferred taxes and other assets	`DeferredIncomeTaxesAndOtherAssetsNoncurrent`	$25.50M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$240.18M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$242.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$22.87M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.52M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$17.12M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$19.44M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$39.98M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$32.96M	USD	Point-in-time
Long-term debt, net	`LongTermDebt`	$89.75M	USD	Point-in-time
Long-term debt, net	`LongTermDebt`	$91.65M	USD	Point-in-time
Capital lease obligation, net	`CapitalLeaseObligationsNoncurrent`	$1.08M	USD	Point-in-time
Capital lease obligation, net	`CapitalLeaseObligationsNoncurrent`	$1.16M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$25.56M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$27.15M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.55M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.27M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$155.21M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$162.91M	USD	Point-in-time
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued: 51,241,127, and 51,229,720 shares	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued: 51,241,127, and 51,229,720 shares	`CommonStockValue`	$5.00K	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`	$169.72M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$171.12M	USD	Point-in-time
Retained (deficit) earnings	`RetainedEarningsAccumulatedDeficit`	$-86.15M	USD	Point-in-time
Retained (deficit) earnings	`RetainedEarningsAccumulatedDeficit`	$-89.86M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$84.97M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$79.86M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$240.18M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$242.77M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$64.38M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$56.84M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$16.46M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$19.45M	USD	1 Quarter
Gross profit	`GrossProfit`	$40.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$44.93M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$28.35M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$37.97M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$6.96M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.02M	USD	1 Quarter
Interest expense	`InterestExpense`	$711.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$594.00K	USD	1 Quarter
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	-	USD	1 Quarter
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$-51.84M	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-33.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-69.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-40.45M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.18M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.26M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.47M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-44.72M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.71M	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-1.00	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-1.00	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	44.85M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.17M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.85M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.52M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-44.72M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.46M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.07M	USD	1 Quarter
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-91.00K	USD	1 Quarter
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-45.00K	USD	1 Quarter
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	-	USD	1 Quarter
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$-51.84M	USD	1 Quarter
Deferred rent	`OtherNoncashExpense`	$1.83M	USD	1 Quarter
Deferred rent	`OtherNoncashExpense`	$1.59M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$1.09M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$1.40M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-281.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$273.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$308.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.19M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.79M	USD	1 Quarter
Deferred taxes and other assets	`IncreaseDecreaseInDeferredTaxesAndOtherAssets`	$568.00K	USD	1 Quarter
Deferred taxes and other assets	`IncreaseDecreaseInDeferredTaxesAndOtherAssets`	$8.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$446.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.35M	USD	1 Quarter
Income tax receivable/ payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-5.51M	USD	1 Quarter
Income tax receivable/ payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-4.21M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$2.33M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$3.75M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.21M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.26M	USD	1 Quarter
Proceeds from cash surrender value of life insurance policy	`ProceedsFromLifeInsurancePolicies`	$462.00K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.07M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.14M	USD	1 Quarter
Proceeds from the sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$159.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.45M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.14M	USD	1 Quarter
Release of restricted cash	`IncreaseDecreaseInRestrictedCash`	$-754.00K	USD	1 Quarter
Payments of long-term debt and capital lease obligations	`RepaymentsOfDebt`	$6.06M	USD	1 Quarter
Payments of long-term debt and capital lease obligations	`RepaymentsOfDebt`	$958.00K	USD	1 Quarter
Net payments on line of credit	`AdvancesOnLineOfCredit`	$-1.03M	USD	1 Quarter
Repurchase of warrants	`PaymentsForRepurchaseOfWarrants`	$30.11M	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$41.82M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$5.00K	USD	1 Quarter
Security deposit	`PaymentsForDeposits`	$4.00K	USD	1 Quarter
Security deposit	`PaymentsForDeposits`	$-4.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.23M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.66M	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.53M	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$12.78M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.29M	USD	Point-in-time
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 end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.29M	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
Reclassification of warrants from liability to equity	`ReclassificationOfWarrantsFromLiabilityToEquity`	$110.00M	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	`CapitalExpendituresIncurredButNotYetPaid`	$1.46M	USD	1 Quarter

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