10-Q Filing

TILE SHOP HOLDINGS, INC. CIK: 1552800 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001552800-16-000005`
Period End Date	20160331
Filing Date	20160428
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	tts-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 29 Cash Flow Statement 59 Stockholders Equity 19 Comprehensive Income 9

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (per share)	`CommonStockParOrStatedValuePerShare`	$0.00	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.96M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.44M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.44M	shares	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$219.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	51.44M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	51.44M	shares	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$219.00K	USD	Point-in-time
Preferred stock, par value (per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$1.97M	USD	Point-in-time
Preferred stock, par value (per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$2.37M	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
Inventories	`InventoryNet`	$69.88M	USD	Point-in-time
Inventories	`InventoryNet`	$64.24M	USD	Point-in-time
Prepaid inventory	`PrepaidInventory`	$568.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid inventory	`PrepaidInventory`	$378.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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
Income tax receivable	`IncomeTaxesReceivable`	$363.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$735.00K	USD	Point-in-time
Other current assets, net	`OtherAssetsCurrent`	$3.19M	USD	Point-in-time
Other current assets, net	`OtherAssetsCurrent`	$3.56M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$87.25M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$87.16M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$136.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$135.12M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$20.56M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$20.85M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.79M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.73M	USD	Point-in-time
Total Assets	`Assets`	$245.01M	USD	Point-in-time
Total Assets	`Assets`	$245.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.58M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$4.81M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$4.74M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$3.58M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.10M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$23.93M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$19.33M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$39.76M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$46.52M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$36.23M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$51.18M	USD	Point-in-time
Capital lease obligation, net	`CapitalLeaseObligationsNoncurrent`	$775.00K	USD	Point-in-time
Capital lease obligation, net	`CapitalLeaseObligationsNoncurrent`	$797.00K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$34.98M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$35.81M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.09M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.92M	USD	Point-in-time
Total Liabilities	`Liabilities`	$122.26M	USD	Point-in-time
Total Liabilities	`Liabilities`	$129.81M	USD	Point-in-time
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued and outstanding: 51,438,973 and 51,437,973 shares, respectively	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued and outstanding: 51,438,973 and 51,437,973 shares, respectively	`CommonStockValue`	$5.00K	USD	Point-in-time
Preferred stock, par value $0.0001; authorized: 10,000,000 shares; issued and outstanding: 0 shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.0001; authorized: 10,000,000 shares; issued and outstanding: 0 shares	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$181.43M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$180.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-64.98M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-58.23M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.00K	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-11.00K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$115.20M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$93.69M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$123.20M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$245.01M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$245.46M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$72.96M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$84.71M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$25.01M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$21.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$59.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$50.97M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$43.78M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$47.95M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$11.76M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.20M	USD	1 Quarter
Interest expense	`InterestExpense`	$570.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$803.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$29.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$31.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.42M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.22M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.46M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.70M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.13	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.36M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.13M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.16M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.67M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.70M	USD	Annual
Depreciation & amortization	`DepreciationAndAmortization`	$5.57M	USD	1 Quarter
Depreciation & amortization	`DepreciationAndAmortization`	$5.65M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfDebtDiscountPremium`	$116.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfDebtDiscountPremium`	$157.00K	USD	1 Quarter
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-70.00K	USD	1 Quarter
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-12.00K	USD	1 Quarter
Deferred rent	`OtherNoncashExpense`	$678.00K	USD	1 Quarter
Deferred rent	`OtherNoncashExpense`	$866.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$1.23M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$1.30M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$283.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$402.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$552.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.96M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.64M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-576.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$424.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.14M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-703.00K	USD	1 Quarter
Income tax receivable/ payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-6.93M	USD	1 Quarter
Income tax receivable/ payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-2.85M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$4.76M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$4.75M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$26.13M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$27.47M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.58M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.38M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-4.58M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-6.38M	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`	$15.03M	USD	1 Quarter
Advances on line of credit	`ProceedsFromLongTermLinesOfCredit`	$5.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$10.00K	USD	1 Quarter
Security deposits	`PaymentsForDepositsAppliedToDebtRetirements`	$1.00K	USD	1 Quarter
Security deposits	`PaymentsForDepositsAppliedToDebtRetirements`	$3.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-18.35M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-15.03M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCash`	$2.00K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.08M	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.20M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.41M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.76M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.33M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.96M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.41M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.76M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.33M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.96M	USD	Point-in-time
Purchases of property, plant and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$1.05M	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`	$673.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$776.00K	USD	1 Quarter
Cash paid (received) for income taxes, net of refunds	`IncomeTaxesPaidNet`	$1.61M	USD	1 Quarter
Cash paid (received) for income taxes, net of refunds	`IncomeTaxesPaidNet`	$-4.17M	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance at (in shares)	`CommonStockSharesOutstanding`	51.44M	shares	Point-in-time
Balance at (in shares)	`CommonStockSharesOutstanding`	51.44M	shares	Point-in-time
Balance at	`StockholdersEquity`	$115.20M	USD	Point-in-time
Balance at	`StockholdersEquity`	$93.69M	USD	Point-in-time
Balance at	`StockholdersEquity`	$123.20M	USD	Point-in-time
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.23M	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.54M	USD	Annual
Stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$276.00K	USD	Annual
Stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$9.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-11.00K	USD	Annual
Net income	`NetIncomeLoss`	$3.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.70M	USD	Annual
Balance at (in shares)	`CommonStockSharesOutstanding`	51.44M	shares	Point-in-time
Balance at (in shares)	`CommonStockSharesOutstanding`	51.44M	shares	Point-in-time
Balance at	`StockholdersEquity`	$115.20M	USD	Point-in-time
Balance at	`StockholdersEquity`	$93.69M	USD	Point-in-time
Balance at	`StockholdersEquity`	$123.20M	USD	Point-in-time

Comprehensive Income 9 line items

Line Item	Tag	Value	Unit	Period
Currency translation adjustment, tax	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$1.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.76M	USD	1 Quarter
Currency translation adjustment, tax	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.70M	USD	Annual
Currency translation adjustment, net of provision for taxes of $1 and $0	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.76M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.66M	USD	1 Quarter

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