10-Q/A Filing

TILE SHOP HOLDINGS, INC. CIK: 1552800 Q1 2015

Filing Information

Form Type	10-Q/A
Accession Number	`0001437749-15-009085`
Period End Date	20150331
Filing Date	20150506
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	tts-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 28 Cash Flow Statement 60 Stockholders Equity 10

Balance Sheet 63 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 (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.96M	USD	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.76M	USD	Point-in-time
Common Stock, Shares Issued (in shares)	`CommonStockSharesIssued`	51.32M	shares	Point-in-time
Common Stock, Shares Issued (in shares)	`CommonStockSharesIssued`	51.31M	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$2.26M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$1.71M	USD	Point-in-time
Common Stock, Shares Outstanding (in shares)	`CommonStockSharesOutstanding`	51.32M	shares	Point-in-time
Inventories	`InventoryNet`	$68.86M	USD	Point-in-time
Inventories	`InventoryNet`	$63.47M	USD	Point-in-time
Common Stock, Shares Outstanding (in shares)	`CommonStockSharesOutstanding`	51.31M	shares	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
Income tax receivable	`IncomeTaxesReceivable`	$4.94M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.19M	USD	Point-in-time
Preferred Stock, Shares Authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Deferred tax and other current assets	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$7.25M	USD	Point-in-time
Deferred tax and other current assets	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$7.27M	USD	Point-in-time
Preferred Stock, Shares Authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$83.14M	USD	Point-in-time
Preferred Stock, Shares Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$88.53M	USD	Point-in-time
Preferred Stock, Shares Outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$139.29M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$137.66M	USD	Point-in-time
Preferred Stock, Shares Outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred tax and other assets	`DeferredIncomeTaxesAndOtherAssetsNoncurrent`	$24.36M	USD	Point-in-time
Deferred tax and other assets	`DeferredIncomeTaxesAndOtherAssetsNoncurrent`	$25.12M	USD	Point-in-time
Total Assets	`Assets`	$245.91M	USD	Point-in-time
Total Assets	`Assets`	$252.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.76M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxes`	$3.19M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$23.19M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$18.39M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$32.15M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$38.61M	USD	Point-in-time
Long-term debt, net	`LongTermDebt`	$70.15M	USD	Point-in-time
Long-term debt, net	`LongTermDebt`	$88.53M	USD	Point-in-time
Capital lease obligation, net	`CapitalLeaseObligationsNoncurrent`	$858.00K	USD	Point-in-time
Capital lease obligation, net	`CapitalLeaseObligationsNoncurrent`	$890.00K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$34.03M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$33.16M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.60M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.77M	USD	Point-in-time
Total Liabilities	`Liabilities`	$147.25M	USD	Point-in-time
Total Liabilities	`Liabilities`	$158.50M	USD	Point-in-time
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued and outstanding: 51,315,047 and 51,314,005 shares, respectively	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued and outstanding: 51,315,047 and 51,314,005 shares, respectively	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$175.69M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$174.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-77.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-80.68M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$93.69M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$98.67M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$252.19M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$245.91M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$64.38M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$72.96M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$19.45M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$21.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$50.97M	USD	1 Quarter
Gross profit	`GrossProfit`	$44.93M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$43.78M	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`	$7.20M	USD	1 Quarter
Interest expense	`InterestExpense`	$803.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$711.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$29.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-69.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.18M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.42M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.76M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.47M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.66M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.00M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.13M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.36M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.16M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.66M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfDebtDiscountPremium`	$116.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfDebtDiscountPremium`	$48.00K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$5.65M	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$4.41M	USD	1 Quarter
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-12.00K	USD	1 Quarter
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-91.00K	USD	1 Quarter
Deferred rent	`OtherNoncashExpense`	$1.59M	USD	1 Quarter
Deferred rent	`OtherNoncashExpense`	$866.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$1.40M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$1.30M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.00M	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$552.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$308.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.79M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.96M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$424.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$8.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.35M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.14M	USD	1 Quarter
Income tax receivable/ payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-6.93M	USD	1 Quarter
Income tax receivable/ payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-5.51M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$4.75M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$2.33M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$26.13M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.21M	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`	$4.58M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.07M	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`	$-4.58M	USD	1 Quarter
Release of restricted cash	`IncreaseDecreaseInRestrictedCash`	$-754.00K	USD	1 Quarter
Payments of long-term debt and capital lease obligations	`RepaymentsOfDebt`	$23.36M	USD	1 Quarter
Payments of long-term debt and capital lease obligations	`RepaymentsOfDebt`	$8.98M	USD	1 Quarter
Advances on line of credit	`ProceedsFromIssuanceOfLongTermDebt`	$7.00M	USD	1 Quarter
Advances on line of credit	`ProceedsFromIssuanceOfLongTermDebt`	$5.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$10.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$5.00K	USD	1 Quarter
Security deposits	`PaymentsForDeposits`	$4.00K	USD	1 Quarter
Security deposits	`PaymentsForDeposits`	$1.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.35M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.23M	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.20M	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.53M	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`	$8.96M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.76M	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`	$8.96M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.76M	USD	Point-in-time
Purchases of property, plant and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$2.60M	USD	1 Quarter
Purchases of property, plant and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$467.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$776.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$810.00K	USD	1 Quarter
Income tax refunds received	`ProceedsFromIncomeTaxRefunds`	$4.17M	USD	1 Quarter
Income tax refunds received	`ProceedsFromIncomeTaxRefunds`	$3.04M	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance at (in shares)	`CommonStockSharesOutstanding`	51.32M	shares	Point-in-time
Balance at (in shares)	`CommonStockSharesOutstanding`	51.31M	shares	Point-in-time
Balance at	`StockholdersEquity`	$93.69M	USD	Point-in-time
Balance at	`StockholdersEquity`	$98.67M	USD	Point-in-time
Net income	`NetIncomeLoss`	$3.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.66M	USD	1 Quarter
Balance at (in shares)	`CommonStockSharesOutstanding`	51.32M	shares	Point-in-time
Balance at (in shares)	`CommonStockSharesOutstanding`	51.31M	shares	Point-in-time
Balance at	`StockholdersEquity`	$93.69M	USD	Point-in-time
Balance at	`StockholdersEquity`	$98.67M	USD	Point-in-time

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