CHAUS BERNARD INC
CIK:0000793983|SEC Filings
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Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
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Mar. 31, 2012
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Apr. 02, 2011
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Mar. 31, 2012
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Apr. 02, 2011
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| Consolidated Statements of Operations (Unaudited) | ||||
| Net revenue | $ 27,467 | $ 23,260 | $ 65,540 | $ 67,885 |
| Cost of goods sold | 20,528 | 18,812 | 48,917 | 54,790 |
| Gross profit | 6,939 | 4,448 | 16,623 | 13,095 |
| Selling, general and administrative expenses | 8,166 | 6,956 | 20,750 | 21,262 |
| Merger related costs | 415 | 0 | 782 | 0 |
| Accrued gain on early termination of license agreement | 0 | (1,165) | 0 | (4,055) |
| Loss from operations | (1,642) | (1,343) | (4,909) | (4,112) |
| Interest expense | 223 | 163 | 418 | 541 |
| Loss before income tax provision | (1,865) | (1,506) | (5,327) | (4,653) |
| Income tax provision | 8 | 12 | 26 | 36 |
| Net loss | $ (1,873) | $ (1,518) | $ (5,353) | $ (4,689) |
| Basic loss per share (in dollars per share) | $ (0.05) | $ (0.04) | $ (0.14) | $ (0.13) |
| Diluted loss per share (in dollars per share) | $ (0.05) | $ (0.04) | $ (0.14) | $ (0.13) |
| Weighted average number of shares outstanding- basic (in shares) | 37,481,000 | 34,514,000 | 37,481,000 | 36,492,000 |
| Weighted average number of common and common equivalent shares outstanding- diluted (in shares) | 37,481,000 | 34,514,000 | 37,481,000 | 36,492,000 |
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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2012
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Jul. 02, 2011
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Apr. 02, 2011
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|---|---|---|---|---|---|---|
| Current Assets | ||||||
| Cash | $ 3 | $ 3 | [1] | $ 3 | ||
| Accounts receivable - factored | 17,923 | 6,466 | [1] | 14,467 | ||
| Accounts receivable - net | 1,375 | 1,004 | [1] | 1,648 | ||
| Inventories - net | 7,100 | 5,077 | [1] | 5,235 | ||
| Prepaid expenses and other current assets | 243 | 1,476 | [1] | 1,356 | ||
| Total current assets | 26,644 | 14,026 | [1] | 22,709 | ||
| Fixed assets - net | 1,714 | 1,159 | [1] | 936 | ||
| Other assets | 0 | 0 | [1] | 3 | ||
| Trademarks | 1,000 | 1,000 | [1] | 1,000 | ||
| Total assets | 29,358 | 16,185 | [1] | 24,648 | ||
| Current Liabilities | ||||||
| Revolving credit borrowings | 7,517 | 2,577 | [1] | 9,966 | ||
| Accounts payable | 20,191 | 20,605 | [1] | 19,067 | ||
| Accrued expenses | 3,694 | 1,473 | [1] | 1,158 | ||
| Total current liabilities | 31,402 | 24,655 | [1] | 30,191 | ||
| Notes payable - related party | 12,000 | 0 | [1] | 0 | ||
| Deferred income | 2,534 | 2,834 | [1] | 2,934 | ||
| Other long term liabilities | 1,986 | 1,927 | [1] | 1,851 | ||
| Deferred income taxes | 220 | 200 | [1] | 193 | ||
| Total liabilities | 48,142 | 29,616 | [1] | 35,169 | ||
| Commitments and Contingencies | ||||||
| Stockholders' Deficiency | ||||||
| Preferred stock, $.01 par value, authorized shares - 1,000,000; issued and outstanding shares - none | 0 | 0 | [1] | 0 | ||
| Common stock, $.01 par value, authorized shares - 50,000,000; issued shares - 37,543,643 at March 31, 2012, July 2, 2011 and April 2, 2011 | 375 | 375 | [1] | 375 | ||
| Additional paid-in capital | 133,443 | 133,443 | [1] | 133,440 | ||
| Deficit | (150,037) | (144,684) | [1] | (141,516) | ||
| Accumulated other comprehensive loss | (1,085) | (1,085) | [1] | (1,040) | ||
| Less: Treasury stock at cost - 62,270 shares at March 31, 2012 and July 2, 2011 and 3,062,270 at April 2, 2011 | (1,480) | (1,480) | [1] | (1,780) | ||
| Total stockholders' deficiency | (18,784) | (13,431) | [1] | (10,521) | ||
| Total liabilities and stockholders' deficiency | $ 29,358 | $ 16,185 | [1] | $ 24,648 | ||
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