CACHE INC

CIK:0000350199|SEC Filings

BASIC AND DILUTED EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 27, 2014

BASIC AND DILUTED EARNINGS PER SHARE

Schedule of computations of basic and diluted earnings per share

	39-Weeks Ended						13-Weeks Ended
	September 27,			September 28,			September 27,			September 28,
	2014			2013			2014			2013
Net loss	$	(31,246,000	)	$	(28,889,000	)	$	(12,515,000	)	$	(9,456,000	)
Basic weighted number of average shares outstanding	25,234,000			17,450,000			30,521,000			21,090,000
Incremental shares from assumed issuances of stock options and restricted stock awards	—			—			—			—
Diluted weighted average number of shares outstanding	25,234,000			17,450,000			30,521,000			21,090,000

Net loss per share - Basic	$	(1.24	)	$	(1.66	)	$	(0.41	)	$	(0.45	)
- Diluted	$	(1.24	)	$	(1.66	)	$	(0.41	)	$	(0.45	)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Sep. 27, 2014	Sep. 28, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (31,246,000)	$ (28,889,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	4,860,000	5,148,000
Stock-based compensation	820,000	502,000
Deferred income taxes		10,078,000
Gift card breakage	(165,000)	(170,000)
Amortization of deferred income for co-branded credit card	(187,000)	(330,000)
Amortization of deferred rent	(1,201,000)	(1,019,000)
Amortization and write off of deferred financing costs	1,019,000	37,000
Change in assets and liabilities:
Increase in receivables and income tax receivables	(831,000)	(275,000)
Increase in inventories	(2,533,000)	(990,000)
Decrease (increase) in prepaid expenses and other current assets	(162,000)	385,000
Decrease (increase) in accounts payable	461,000	(3,416,000)
Increase (decrease) in accrued liabilities, accrued compensation and other liabilities	(1,341,000)	1,371,000
Net cash used in operating activities	(30,506,000)	(17,568,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of marketable securities		(2,000,000)
Maturities of marketable securities		5,013,000
Certificates of deposit-restricted		1,250,000
Purchase of equipment and leasehold improvements	(5,902,000)	(5,124,000)
Net cash used in investing activities	(5,902,000)	(861,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Book overdraft	1,679,000
Proceeds from line of credit, net	16,141,000
Proceeds from issuance of common stock	16,331,000	13,419,000
Payment of issuance costs	(1,233,000)	(2,046,000)
Repurchase of common stock	(111,000)
Payments of deferred financing costs	(367,000)	(941,000)
Net cash provided by financing activities	32,440,000	10,432,000
Net decrease in cash and equivalents	(3,968,000)	(7,997,000)
Cash and equivalents, at beginning of period	4,513,000	12,360,000
Cash and equivalents, at end of period	545,000	4,363,000
Supplemental disclosure of cash flow information:
Income taxes paid	126,000	115,000
Interest Paid	229,000
Supplemental disclosure of non-cash investing and financing activities:
Accrued fixed asset additions	598,000	425,000
Accrued issuance costs	10,000	46,000
Accrued deferred financing costs	188,000	136,000
Prepaid stock-based compensation	$ 29,000	$ 5,000

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 27, 2014	Dec. 28, 2013	Sep. 28, 2013
Current assets:
Cash and equivalents	$ 545,000	$ 4,513,000	$ 4,363,000
Certificate of deposit - restricted			1,750,000
Receivables, net	3,637,000	2,806,000	2,610,000
Income tax receivable			49,000
Inventories, net	27,474,000	24,941,000	21,499,000
Prepaid expenses and other current assets	1,556,000	1,272,000	1,354,000
Total current assets	33,212,000	33,532,000	31,625,000
Equipment and leasehold improvements, net	19,599,000	18,221,000	19,814,000
Intangible assets, net	102,000	102,000	102,000
Other assets	827,000	1,384,000	1,449,000
Total assets	53,740,000	53,239,000	52,990,000
Current liabilities:
Book overdraft	1,679,000
Line of credit	16,141,000
Accounts payable	11,317,000	10,856,000	8,981,000
Accrued compensation	2,006,000	4,317,000	3,223,000
Accrued liabilities	11,793,000	11,197,000	10,374,000
Total current liabilities	42,936,000	26,370,000	22,578,000
Other liabilities	8,173,000	8,818,000	9,285,000
Commitments and contingencies
STOCKHOLDERS' EQUITY
Common stock, par value $.01; authorized, 40,000,000 shares; issued 34,763,079, 25,220,092 and 25,213,370	348,000	252,000	252,000
Additional paid-in capital	76,671,000	60,830,000	60,489,000
Retained earnings (accumulated deficit)	(34,482,000)	(3,236,000)	181,000
Treasury stock 3,725,695, 3,682,199 and 3,682,199 shares, at cost	(39,906,000)	(39,795,000)	(39,795,000)
Total stockholders' equity	2,631,000	18,051,000	21,127,000
Total liabilities and stockholders' equity	$ 53,740,000	$ 53,239,000	$ 52,990,000