Financial Statements

  Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Restated) Year Ending Dec 2016 (Restated) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update)
Net Sales 2,163.96 2,166.89 2,239.56 1,661.95 1,356.36
Revenue 2,163.96 2,166.89 2,239.56 1,661.95 1,356.36
Total Revenue 2,163.96 2,166.89 2,239.56 1,661.95 1,356.36
Cost of Revenue 1,820.02 1,843.86 1,920.63 1,437.62 1,164.30
Cost of Revenue, Total 1,820.02 1,843.86 1,920.63 1,437.62 1,164.30
Gross Profit 343.94 323.03 318.93 224.33 192.07
Selling/General/Administrative Expense 290.50 299.40 277.83 249.81 176.36
Labor & Related Expense 4.30 2.60 2.00 -- --
Advertising Expense 4.00 5.30 4.20 -- --
Selling/General/Administrative Expenses, Total 298.80 307.30 284.03 249.81 176.36
Restructuring Charge 3.30 3.60 -- -- --
Impairment-Assets Held for Use -- -- -- -- --
Other Unusual Expense (Income) 1.10 1.50 -- -- --
Unusual Expense (Income) 4.40 5.10 -- -- --
Other, Net -- -- -- -- 0.00
Other Operating Expenses, Total -- -- -- -- 0.00
Total Operating Expense 2,123.21 2,156.26 2,204.66 1,687.43 1,340.66
Operating Income 40.75 10.63 34.90 -25.48 15.71
Investment Income, Non-Operating 0.77 0.53 -- -- --
Interest/Investment Income, Non-Operating 0.77 0.53 -- -- --
Interest Income (Expense), Net Non-Operating -9.49 -7.89 -6.08 -3.86 -3.18
Interest Income (Expense), Net-Non-Operating, Total -8.72 -7.37 -6.08 -3.86 -3.18
Net Income Before Taxes 32.03 3.26 28.82 -29.34 12.53
Income Tax – Total 8.94 1.87 11.16 -11.39 5.49
Income After Tax 23.09 1.39 17.66 -17.95 7.04
Net Income Before Extraordinary Items 23.09 1.39 17.66 -17.95 7.04
Discontinued Operations -- -- -- -0.31 -1.57
Extraordinary Item -0.32 1.20 -- -- --
Total Extraordinary Items -0.32 1.20 -- -0.31 -1.57
Net Income 22.77 2.60 17.66 -18.26 5.47
Income Available to Common Excluding Extraordinary Items 23.09 1.39 17.66 -17.95 7.04
Income Available to Common Stocks Including Extraordinary Items 22.77 2.60 17.66 -18.26 5.47
Basic Weighted Average Shares 11.99 12.27 11.85 12.05 12.25
Basic EPS Excluding Extraordinary Items 1.93 0.11 1.49 -1.49 0.57
Basic EPS Including Extraordinary Items 1.90 0.21 1.49 -1.52 0.45
Dilution Adjustment -- -- -- -- --
Diluted Net Income 22.77 2.60 17.66 -18.26 5.47
Diluted Weighted Average Shares 12.44 13.09 12.53 12.05 12.88
Diluted EPS Excluding Extraordinary Items 1.86 0.11 1.41 -1.49 0.55
Diluted EPS Including Extraordinary Items 1.83 0.20 1.41 -1.52 0.42
DPS - Common Stock Primary Issue -- -- -- -- --
Gross Dividends - Common Stock 0.00 0.00 0.00 0.00 0.00
Total Special Items 4.40 5.10 -- -- --
Normalized Income Before Taxes 36.43 8.36 28.82 -29.34 12.53
Effect of Special Items on Income Taxes 1.23 2.92 -- -- --
Income Taxes Excluding Impact of Special Items 10.17 4.79 11.16 -11.39 5.49
Normalized Income After Taxes 26.26 3.57 17.66 -17.95 7.04
Normalized Income Available to Common 26.26 3.57 17.66 -17.95 7.04
Basic Normalized EPS 2.19 0.29 1.49 -1.49 0.57
Diluted Normalized EPS 2.11 0.27 1.41 -1.49 0.55
Amortization of Intangibles, Supplemental 3.00 4.10 5.80 1.30 0.30
Depreciation, Supplemental 10.44 10.10 9.98 10.92 11.59
Rental Expense, Supplemental 7.70 6.70 5.80 4.20 4.60
Stock-Based Compensation, Supplemental 3.10 2.60 -- 1.59 1.50
Advertising Expense, Supplemental 4.00 5.30 4.20 -- --
Equity in Affiliates, Supplemental 0.77 0.53 -- -- --
Audit-Related Fees, Supplemental -- -- -- 1.75 1.13
Audit-Related Fees -- -- -- 0.58 0.00
Tax Fees, Supplemental -- -- -- 0.56 0.18
All Other Fees Paid to Auditor, Supplemental -- -- -- -- 0.00
Gross Margin 15.89 14.91 14.24 13.50 14.16
Operating Margin 1.88 0.49 1.56 -1.53 1.16
Pretax Margin 1.48 0.15 1.29 -1.77 0.92
Effective Tax Rate 27.91 57.27 38.72 -- 43.83
Net Profit Margin 1.07 0.06 0.79 -1.08 0.52
Normalized EBIT 45.15 15.73 34.90 -25.48 15.71
Normalized EBITDA 58.59 29.93 50.69 -13.27 27.60
Current Tax - Domestic 6.54 -2.61 7.01 -2.62 0.26
Current Tax - Foreign 1.73 2.00 1.91 0.72 0.61
Current Tax - Local 1.77 0.32 0.95 0.08 0.41
Current Tax - Other -- -- -- -- --
Current Tax - Total 10.04 -0.29 9.87 -1.82 1.28
Deferred Tax - Domestic -1.40 3.35 1.39 -8.30 3.85
Deferred Tax - Foreign 0.06 -1.48 -0.37 -0.12 -0.18
Deferred Tax - Local 0.23 0.29 0.27 -1.16 0.55
Deferred Tax - Total -1.10 2.15 1.29 -9.58 4.21
Income Tax - Total 8.94 1.87 11.16 -11.39 5.49
Defined Contribution Expense - Domestic 0.94 -- -- 0.66 0.55
Total Pension Expense 0.94 -- -- 0.66 0.55
Retail Sales 2,164.58 2,167.34 2,250.67 1,661.97 1,404.74
  Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Restated) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update)
Cash & Equivalents 6.03 9.11 7.17 11.18 8.89
Cash and Short Term Investments 6.03 9.11 7.17 11.18 8.89
Accounts Receivable - Trade, Gross 452.03 422.18 359.78 341.58 200.03
Provision for Doubtful Accounts -1.71 -2.18 -0.83 -0.56 -0.43
Accounts Receivable - Trade, Net 450.32 419.99 358.95 341.02 199.60
Receivables - Other 13.17 19.66 0.00 0.00 0.00
Total Receivables, Net 463.49 439.66 358.95 341.02 199.60
Total Inventory 61.62 103.47 80.87 55.39 50.69
Prepaid Expenses 8.54 9.33 16.25 17.88 15.94
Deferred Income Tax - Current Asset 0.00 0.00 0.00 4.43 3.92
Discontinued Operations - Current Asset 0.00 0.00 5.81 5.81 0.03
Other Current Assets, Total 0.00 0.00 5.81 10.24 3.95
Total Current Assets 539.67 561.58 469.06 435.70 279.07
Buildings - Gross 40.89 40.16 0.00 31.63 26.47
Land/Improvements - Gross 17.96 17.96 0.00 12.85 12.01
Machinery/Equipment - Gross 86.22 84.04 0.00 73.76 88.60
Other Property/Plant/Equipment - Gross 8.50 8.50 0.00 6.31 6.02
Property/Plant/Equipment, Total - Gross 153.57 150.66 0.00 124.55 133.10
Accumulated Depreciation, Total -84.29 -79.10 0.00 -67.78 -58.73
Property/Plant/Equipment, Total - Net 69.29 71.55 56.35 56.77 74.37
Goodwill, Net 87.23 87.77 83.39 80.55 25.51
Intangibles - Gross 20.85 23.65 23.42 23.33 6.14
Accumulated Intangible Amortization -12.75 -12.56 -8.35 -2.52 -1.47
Intangibles, Net 8.10 11.09 15.07 20.81 4.67
LT Investments - Other 15.18 6.51 4.99 5.40 5.56
Long Term Investments 15.18 6.51 4.99 5.40 5.56
Deferred Income Tax - Long Term Asset 1.48 1.76 0.95 0.94 0.00
Discontinued Operations - Long Term Asset 0.00 0.00 0.00 0.00 0.01
Other Long Term Assets, Total 1.48 1.76 0.95 0.94 0.01
Total Assets 720.95 740.25 629.81 600.17 389.19
Accounts Payable 357.21 289.20 276.52 201.52 122.33
Accrued Expenses 61.91 54.44 63.40 51.58 26.11
Notes Payable/Short Term Debt 88.40 213.78 107.40 162.44 52.80
Current Portion of Long Term Debt/Capital Leases 4.58 3.96 11.17 12.91 3.74
Customer Advances 7.97 7.91 10.96 11.46 10.09
Discontinued Operations – Current Liability 0.00 0.00 4.60 4.95 0.58
Other Current liabilities, Total 7.97 7.91 15.56 16.41 10.67
Total Current Liabilities 520.07 569.29 474.05 444.86 215.64
Long Term Debt 29.51 32.89 18.75 21.45 28.02
Capital Lease Obligations 2.10 1.30 0.00 0.00 0.00
Total Long Term Debt 31.61 34.19 18.75 21.45 28.02
Total Debt 124.59 251.93 137.31 196.81 84.55
Deferred Income Tax - Long Term Liability 1.89 3.10 1.50 4.05 12.22
Deferred Income Tax 1.89 3.10 1.50 4.05 12.22
Other Long Term Liabilities 14.48 6.04 7.04 20.29 0.00
Other Liabilities, Total 14.48 6.04 7.04 20.29 0.00
Total Liabilities 568.06 612.63 501.34 490.66 255.87
Redeemable Preferred Stock 0.00 0.00 0.00 0.00 0.00
Redeemable Preferred Stock, Total 0.00 0.00 0.00 0.00 0.00
Common Stock 0.02 0.02 0.02 0.02 0.02
Common Stock, Total 0.02 0.02 0.02 0.02 0.02
Additional Paid-In Capital 138.70 134.65 127.78 122.93 120.92
Retained Earnings (Accumulated Deficit) 54.02 31.25 28.25 10.66 28.92
Treasury Stock - Common -38.54 -38.54 -26.93 -23.33 -17.47
Other Comprehensive Income -1.31 0.25 -0.64 -0.77 0.94
Other Equity, Total -1.31 0.25 -0.64 -0.77 0.94
Total Equity 152.89 127.63 128.47 109.52 133.32
Total Liabilities & Shareholders' Equity 720.95 740.25 629.81 600.17 389.19
Shares Outstanding – Common Stock Primary Issue 12.18 11.78 11.97 11.91 12.27
Total Common Shares Outstanding 12.18 11.78 11.97 11.91 12.27
Treasury Shares – Common Primary Issue 5.39 5.39 4.50 4.09 3.49
Employees 3,954.00 4,073.00 3,576.00 3,665.00 2,642.00
Part-Time Employees 86.00 89.00 69.00 74.00 66.00
Number of Common Shareholders 18.00 20.00 20.00 20.00 21.00
Accumulated Intangible Amortization 12.75 12.56 8.35 2.52 1.47
Deferred Revenue - Current 7.97 7.91 10.96 11.46 10.09
Total Current Assets less Inventory 478.05 458.10 388.18 380.31 228.38
Quick Ratio 0.92 0.80 0.82 0.85 1.06
Current Ratio 1.04 0.99 0.99 0.98 1.29
Net Debt 118.56 242.82 130.14 185.63 75.66
Tangible Book Value 57.56 28.77 30.01 8.16 103.13
Tangible Book Value per Share 4.72 2.44 2.51 0.68 8.41
Total Long Term Debt, Supplemental 32.79 250.03 0.00 201.60 0.00
Long Term Debt Maturing within 1 Year 3.28 217.14 0.00 180.15 0.00
Long Term Debt Maturing in Year 2 11.39 3.28 0.00 2.88 0.00
Long Term Debt Maturing in Year 3 11.39 15.65 0.00 2.35 0.00
Long Term Debt Maturing in Year 4 3.34 7.13 0.00 8.53 0.00
Long Term Debt Maturing in Year 5 3.34 6.75 0.00 1.97 0.00
Long Term Debt Maturing in 2-3 Years 22.78 18.93 0.00 5.23 0.00
Long Term Debt Maturing in 4-5 Years 6.69 13.87 0.00 10.50 0.00
Long Term Debt Maturing in Year 6 & Beyond 0.05 0.09 0.00 5.72 0.00
Total Capital Leases 3.42 1.94 0.00 3.70 4.86
Capital Lease Payments Due in Year 1 1.33 0.64 0.00 2.27 2.31
Capital Lease Payments Due in Year 2 1.04 0.61 0.00 1.03 1.82
Capital Lease Payments Due in Year 3 0.57 0.37 0.00 0.18 0.68
Capital Lease Payments Due in Year 4 0.26 0.32 0.00 0.16 0.04
Capital Lease Payments Due in Year 5 0.22 0.00 0.00 0.06 0.02
Capital Lease Payments Due in 2-3 Years 1.61 0.98 0.00 1.21 2.49
Capital Lease Payments Due in 4-5 Years 0.48 0.32 0.00 0.21 0.06
Capital Lease Payments Due in Year 6 & Beyond 0.00 0.00 0.00 0.00 0.00
Total Operating Leases 50.57 28.95 0.00 23.26 22.28
Operating Lease Payments Due in Year 1 6.77 6.73 0.00 6.96 6.28
Operating Lease Payments Due in Year 2 6.19 5.74 0.00 4.20 5.00
Operating Lease Payments Due in Year 3 6.09 4.93 0.00 3.24 2.72
Operating Lease Payments Due in Year 4 5.18 4.24 0.00 2.49 2.37
Operating Lease Payments Due in Year 5 4.39 2.82 0.00 1.32 1.77
Operating Lease Payments Due in 2-3 Years 12.27 10.67 0.00 7.44 7.71
Operating Lease Payments Due in 4-5 Years 9.57 7.07 0.00 3.81 4.13
Standardized Operating Lease Payments Due in Year 6 and Beyond 21.97 4.49 0.00 5.06 4.16
Number of Stores Opened 0.00 0.00 0.00 0.00 0.00
Number of Stores, End of Period 0.00 0.00 0.00 0.00 0.00
  Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Reclassified) Year Ending Dec 2016 (Reclassified) Year Ending Dec 2015 (Reclassified) Year Ending Dec 2014 (Update)
Net Income/Starting Line 22.77 2.60 17.66 -18.26 5.47
Depreciation – Supplemental 13.44 14.18 15.78 12.22 11.89
Depreciation/Depletion 13.44 14.18 15.78 12.22 11.89
Unusual Items -- -- 0.04 25.43
Equity in Net Earnings (Loss) -0.48 -0.29 -- --
Other Non-Cash Items 2.10 2.89 3.25 -8.19 4.20
Non-Cash Items 1.62 2.60 3.29 17.24 4.20
Accounts Receivable -23.83 -68.00 -18.27 -126.98 -3.55
Inventories 41.85 -31.25 -24.83 1.66 66.27
Prepaid Expenses 0.80 7.06 1.77 -0.63 -1.33
Other Assets -7.94 -0.33 1.02 0.84 0.86
Accounts Payable 66.64 8.36 87.72 54.31 -8.58
Accrued Expenses 18.25 3.87 12.95 6.32 -2.59
Other Liabilities 0.05 -3.85 -0.57 1.07 0.64
Changes in Working Capital 95.83 -84.15 59.78 -63.41 51.71
Cash from Operating Activities 133.67 -64.78 96.51 -52.21 73.26
Purchase of Fixed Assets -5.74 -17.33 -8.71 -21.38 -26.67
Capital Expenditures -5.74 -17.33 -8.71 -21.38 -26.67
Acquisition of Business -0.04 -4.81 -2.08 -44.86
Sale of Fixed Assets
Other Investing Cash Flow Items, Total -0.04 -4.81 -2.08 -44.86
Cash from Investing Activities -5.78 -22.13 -10.78 -66.24 -26.67
Other Financing Cash Flow -3.12 -15.33 -13.71 -9.70 0.26
Financing Cash Flow Items -3.12 -15.33 -13.71 -9.70 0.26
Repurchase/Retirement of Common -- -11.60 -3.61 -5.85 -2.15
Common Stock, Net -- -11.60 -3.61 -5.85 -2.15
Options Exercised 1.65 5.08 2.54 0.91 3.89
Issuance (Retirement) of Stock, Net 1.65 -6.52 -1.07 -4.95 1.74
Short Term Debt, Net -124.07 109.58 -68.17 126.03 -57.80
Long Term Debt Issued -- 5.80 0.53 17.70 13.73
Long Term Debt Reduction -1.01 -1.31 -2.43 -2.39 -2.63
Long Term Debt, Net -4.46 0.72 -7.07 10.62 8.62
Issuance (Retirement) of Debt, Net -128.52 110.30 -75.25 136.65 -49.18
Cash from Financing Activities -130.00 88.45 -90.02 122.00 -47.18
Foreign Exchange Effects -0.98 0.40 0.29 -1.27 -0.52
Net Change in Cash -3.08 1.94 -4.00 2.28 -1.10
Net Cash - Beginning Balance 9.11 7.17 11.18 8.89 9.99
Net Cash - Ending Balance 6.03 9.11 7.17 11.18 8.89
Cash Interest Paid 9.05 7.07 5.37 3.62 3.35
Cash Taxes Paid 2.05 4.34 7.33 -4.96 6.21

In millions of USD (except for per share items)