10-Q Filing

TILE SHOP HOLDINGS, INC. CIK: 1552800 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001437749-14-014826`
Period End Date	20140630
Filing Date	20140808
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	tts-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 58 Cash Flow Statement 63

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`	$3.53M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.81M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.24M	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$1.20M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$2.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.23M	shares	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$63.89M	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$6.03M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$9.53M	USD	Point-in-time
Deferred tax and other current assets, net	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$5.33M	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`	$7.15M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$91.70M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$80.78M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$137.92M	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`	$25.34M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$244.04M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$242.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$22.87M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$17.12M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$17.31M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$39.98M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$27.47M	USD	Point-in-time
Long-term debt, net	`LongTermDebt`	$91.65M	USD	Point-in-time
Long-term debt, net	`LongTermDebt`	$91.28M	USD	Point-in-time
Capital lease obligation, net	`CapitalLeaseObligationsNoncurrent`	$996.00K	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`	$30.16M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.10M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.55M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$154.01M	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: 51,242,537, and 51,229,720 shares	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued: 51,242,537, and 51,229,720 shares	`CommonStockValue`	$5.00K	USD	Point-in-time
Preferred stock, par value $0.0001; authorized: 10,000,000 shares; issued: 0 shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.0001; 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`	$172.35M	USD	Point-in-time
Retained (deficit) earnings	`RetainedEarningsAccumulatedDeficit`	$-82.32M	USD	Point-in-time
Retained (deficit) earnings	`RetainedEarningsAccumulatedDeficit`	$-89.86M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$90.03M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$79.86M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$242.77M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$244.04M	USD	Point-in-time

Income Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$58.12M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$131.04M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$66.67M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$114.96M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$39.61M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$20.16M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$33.72M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$17.26M	USD	1 Quarter
Gross profit	`GrossProfit`	$40.87M	USD	1 Quarter
Gross profit	`GrossProfit`	$91.44M	USD	2 Qtrs
Gross profit	`GrossProfit`	$81.24M	USD	2 Qtrs
Gross profit	`GrossProfit`	$46.50M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$39.38M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$77.36M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$30.39M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$58.74M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$14.08M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$10.48M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$22.50M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$7.12M	USD	1 Quarter
Interest expense	`InterestExpense`	$495.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$735.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.45M	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.09M	USD	2 Qtrs
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$-2.37M	USD	1 Quarter
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$-54.22M	USD	2 Qtrs
Other expense	`OtherNonoperatingIncomeExpense`	$-41.00K	USD	2 Qtrs
Other expense	`OtherNonoperatingIncomeExpense`	$-4.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-8.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-72.00K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.60M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.56M	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.38M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-32.85M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.55M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.28M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.03M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.01M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.83M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$7.54M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$3.58M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-41.13M	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.15	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.85	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.15	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.85	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.56M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.00M	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	48.22M	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.00M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.36M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.32M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	53.26M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.22M	shares	2 Qtrs

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$3.83M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$7.54M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$3.58M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-41.13M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$6.51M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$9.33M	USD	2 Qtrs
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-135.00K	USD	2 Qtrs
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-62.00K	USD	2 Qtrs
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$2.40M	USD	1 Quarter
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$54.22M	USD	2 Qtrs
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	-	USD	2 Qtrs
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Deferred rent	`OtherNoncashExpense`	$4.60M	USD	2 Qtrs
Deferred rent	`OtherNoncashExpense`	$3.51M	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$2.26M	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$2.63M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$353.00K	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$806.00K	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$528.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$11.79M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-8.18M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.48M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-729.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.90M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.54M	USD	2 Qtrs
Income tax receivable/ payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-3.50M	USD	2 Qtrs
Income tax receivable/ payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$4.15M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.32M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$185.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$26.11M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.70M	USD	2 Qtrs
Proceeds from cash surrender value of life insurance policy	`ProceedsFromLifeInsurancePolicies`	$677.00K	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.43M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.84M	USD	2 Qtrs
Proceeds from the sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$212.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.55M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.84M	USD	2 Qtrs
Release of restricted cash	`IncreaseDecreaseInRestrictedCash`	$-754.00K	USD	2 Qtrs
Payments of long-term debt and capital lease obligations	`RepaymentsOfDebt`	$30.33M	USD	2 Qtrs
Payments of long-term debt and capital lease obligations	`RepaymentsOfDebt`	$13.53M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$32.00M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$13.00M	USD	2 Qtrs
Repurchase of warrants	`PaymentsForRepurchaseOfWarrants`	$30.11M	USD	2 Qtrs
Repurchase of common units	`PaymentsForRepurchaseOfCommonStock`	$46.00M	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$82.41M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$5.00K	USD	2 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$7.00K	USD	2 Qtrs
Security deposit	`PaymentsForDeposits`	$29.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.97M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$199.00K	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$823.00K	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.76M	USD	2 Qtrs
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.53M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	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`	$3.81M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.53M	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`	$2.99M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.81M	USD	Point-in-time
Reclassification of warrants from liability to equity	`ReclassificationOfWarrantsFromLiabilityToEquity`	$149.87M	USD	2 Qtrs
Purchases of property, plant and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$1.98M	USD	2 Qtrs
Purchases of property, plant and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$2.53M	USD	2 Qtrs

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