10-Q Filing

TILE SHOP HOLDINGS, INC. CIK: 1552800 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001437749-14-020026`
Period End Date	20140930
Filing Date	20141107
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	tts-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 57 Cash Flow Statement 66

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
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.23B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.31B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.67M	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$1.20M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$1.90M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00B	shares	Point-in-time
Inventories	`InventoryNet`	$72.07M	USD	Point-in-time
Inventories	`InventoryNet`	$67.29M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00B	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$9.53M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$4.34M	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
Deferred tax and other current assets, net	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$6.45M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$85.65M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$91.70M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$141.02M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$125.32M	USD	Point-in-time
Deferred taxes and other assets	`DeferredIncomeTaxesAndOtherAssetsNoncurrent`	$25.27M	USD	Point-in-time
Deferred taxes and other assets	`DeferredIncomeTaxesAndOtherAssetsNoncurrent`	$25.75M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$251.94M	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`	$13.64M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$17.12M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$18.93M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$32.57M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$39.98M	USD	Point-in-time
Long-term debt, net	`LongTermDebt`	$91.65M	USD	Point-in-time
Long-term debt, net	`LongTermDebt`	$90.40M	USD	Point-in-time
Capital lease obligation, net	`CapitalLeaseObligationsNoncurrent`	$1.16M	USD	Point-in-time
Capital lease obligation, net	`CapitalLeaseObligationsNoncurrent`	$943.00K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$31.25M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$25.56M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.55M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.94M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$162.91M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$159.09M	USD	Point-in-time
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued: 51,314,005, and 51,229,720 shares	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued: 51,314,005, 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`	$173.66M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$169.72M	USD	Point-in-time
Retained (deficit) earnings	`RetainedEarningsAccumulatedDeficit`	$-80.82M	USD	Point-in-time
Retained (deficit) earnings	`RetainedEarningsAccumulatedDeficit`	$-89.86M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$92.85M	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`	$251.94M	USD	Point-in-time

Income Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$56.80M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$193.85M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$62.81M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$171.76M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$19.35M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$58.96M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$50.70M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$16.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$134.89M	USD	3 Qtrs
Gross profit	`GrossProfit`	$43.46M	USD	1 Quarter
Gross profit	`GrossProfit`	$121.05M	USD	3 Qtrs
Gross profit	`GrossProfit`	$39.81M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$117.11M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$39.75M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$90.95M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$32.21M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.61M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$30.10M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$17.79M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$3.71M	USD	1 Quarter
Interest expense	`InterestExpense`	$780.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.87M	USD	3 Qtrs
Interest expense	`InterestExpense`	$2.35M	USD	3 Qtrs
Interest expense	`InterestExpense`	$906.00K	USD	1 Quarter
Change in fair value of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$-54.22M	USD	3 Qtrs
Other expense	`OtherNonoperatingIncomeExpense`	$-290.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-61.00K	USD	3 Qtrs
Other expense	`OtherNonoperatingIncomeExpense`	$-20.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-363.00K	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.51M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-26.05M	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.81M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.07M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.04M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.76M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.01M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.03M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$9.04M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$4.05M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.50M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-37.08M	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.75	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.18	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.75	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.02M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.01M	shares	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	49.13M	shares	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	50.91M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.13M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.10M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.07M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.89M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$9.04M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$4.05M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.50M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-37.08M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$14.30M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$10.15M	USD	3 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$156.00K	USD	3 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$97.00K	USD	3 Qtrs
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-76.00K	USD	3 Qtrs
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-462.00K	USD	3 Qtrs
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	$54.22M	USD	3 Qtrs
Change in fair value of warrants	`FairValueAdjustmentOfWarrants`	-	USD	3 Qtrs
Deferred rent	`OtherNoncashExpense`	$4.55M	USD	3 Qtrs
Deferred rent	`OtherNoncashExpense`	$5.69M	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$3.91M	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$3.39M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-28.00K	USD	3 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$406.00K	USD	3 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$698.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-4.78M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$24.97M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$376.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.43M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$6.06M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.14M	USD	3 Qtrs
Income tax receivable/ payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-5.18M	USD	3 Qtrs
Income tax receivable/ payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$717.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-3.74M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.80M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.03M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$38.11M	USD	3 Qtrs
Proceeds from cash surrender value of life insurance policy	`ProceedsFromLifeInsurancePolicies`	$677.00K	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$36.38M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.39M	USD	3 Qtrs
Proceeds from the sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$212.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-36.38M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.50M	USD	3 Qtrs
Release of restricted cash	`IncreaseDecreaseInRestrictedCash`	$-754.00K	USD	3 Qtrs
Release of restricted cash	`IncreaseDecreaseInRestrictedCash`	$-1.32M	USD	3 Qtrs
Payments of long-term debt and capital lease obligations	`RepaymentsOfDebt`	$38.74M	USD	3 Qtrs
Payments of long-term debt and capital lease obligations	`RepaymentsOfDebt`	$19.46M	USD	3 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$18.00M	USD	3 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$55.53M	USD	3 Qtrs
Repurchase of warrants	`PaymentsForRepurchaseOfWarrants`	$30.11M	USD	3 Qtrs
Repurchase of common units	`PaymentsForRepurchaseOfCommonStock`	$46.00M	USD	3 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$82.41M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$35.00K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$90.00K	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$300.00K	USD	3 Qtrs
Security deposit	`PaymentsForDeposits`	$31.00K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.21M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-700.00K	USD	3 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.91M	USD	3 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$863.00K	USD	3 Qtrs
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	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`	$3.85M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.67M	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`	$1.76M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.85M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.67M	USD	Point-in-time
Reclassification of warrants from liability to equity	`ReclassificationOfWarrantsFromLiabilityToEquity`	$149.87M	USD	3 Qtrs
Purchases of property, plant and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$1.70M	USD	3 Qtrs
Purchases of property, plant and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$4.62M	USD	3 Qtrs
Increase in long-term liabilities and restricted cash, net of debt issuance costs (Note 9)	`LiabilitiesAssumed1`	$3.46M	USD	3 Qtrs

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