Financial Statements

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Restated)
Net Sales 2.19M 2.25M 1.66M 1.36M 1.36M
Revenue 2.19M 2.25M 1.66M 1.36M 1.36M
Total Revenue 2.19M 2.25M 1.66M 1.36M 1.36M
Cost of Revenue 1.87M 1.93M 1.44M 1.16M 1.17M
Cost of Revenue, Total 1.87M 1.93M 1.44M 1.16M 1.17M
Gross Profit 325.72 318.80 224.33 192.07 189.50
Selling/General/Administrative Expense 306.38 282.01 249.81 176.36 171.28
Labor & Related Expense 2.61 2.00
Advertising Expense 5.30
Selling/General/Administrative Expenses, Total 314.28 284.01 249.81 176.36 171.28
Impairment-Assets Held for Use
Other Unusual Expense (Income)
Unusual Expense (Income)
Other, Net --
Other Operating Expenses, Total --
Total Operating Expense 2.18M 2.22M 1.69M 1.34M 1.34M
Operating Income 11.44 34.79 -25.48 15.71 18.22
Investment Income, Non-Operating 0.53
Interest/Investment Income, Non-Operating 0.53
Interest Income (Expense), Net Non-Operating -7.89 -6.08 -3.86 -3.18 -3.34
Interest Income (Expense), Net-Non-Operating, Total -7.37 -6.08 -3.86 -3.18 -3.34
Net Income Before Taxes 4.08 28.71 -29.34 12.53 14.88
Income Tax – Total 2.19 11.12 -11.39 5.49 6.24
Income After Tax 1.89 17.59 -17.95 7.04 8.65
Net Income Before Extraordinary Items 1.89 17.59 -17.95 7.04 8.65
Discontinued Operations -- -- -0.31 -1.57 -0.52
Extraordinary Item 1.20
Total Extraordinary Items 1.20 -- -0.31 -1.57 -0.52
Net Income 3.09 17.59 -18.26 5.47 8.13
Income Available to Common Excluding Extraordinary Items 1.89 17.59 -17.95 7.04 8.65
Income Available to Common Stocks Including Extraordinary Items 3.09 17.59 -18.26 5.47 8.13
Basic Weighted Average Shares 12.27 11.85 12.05 12.25 11.58
Basic EPS Excluding Extraordinary Items 0.15 1.49 -1.49 0.57 0.75
Basic EPS Including Extraordinary Items 0.25 1.49 -1.52 0.45 0.70
Dilution Adjustment
Diluted Net Income 3.09 17.59 -18.26 5.47 8.13
Diluted Weighted Average Shares 13.09 12.53 12.05 12.88 11.92
Diluted EPS Excluding Extraordinary Items 0.14 1.40 -1.49 0.55 0.73
Diluted EPS Including Extraordinary Items 0.24 1.40 -1.52 0.42 0.68
DPS - Common Stock Primary Issue --
Gross Dividends - Common Stock -- -- -- -- --
Total Special Items
Normalized Income Before Taxes 4.08 28.71 -29.34 12.53 14.88
Effect of Special Items on Income Taxes
Income Taxes Excluding Impact of Special Items 2.19 11.12 -11.39 5.49 6.24
Normalized Income After Taxes 1.89 17.59 -17.95 7.04 8.65
Normalized Income Available to Common 1.89 17.59 -17.95 7.04 8.65
Basic Normalized EPS 0.15 1.49 -1.49 0.57 0.75
Diluted Normalized EPS 0.14 1.40 -1.49 0.55 0.73
Amortization of Intangibles, Supplemental 5.80 5.80 1.30 0.30 1.70
Depreciation, Supplemental 8.38 9.98 10.92 11.59 10.13
Rental Expense, Supplemental 6.70 5.80 4.20 4.60 4.90
Stock-Based Compensation, Supplemental 2.61 1.96 1.59 1.50 1.52
Advertising Expense, Supplemental 5.30
Equity in Affiliates, Supplemental 0.53
Audit-Related Fees, Supplemental 1.73 1.49 1.75 1.13 0.95
Audit-Related Fees -- -- 0.58 -- --
Tax Fees, Supplemental 0.35 0.47 0.56 0.18 0.14
All Other Fees Paid to Auditor, Supplemental -- --
Gross Margin 14.85 14.17 13.50 14.16 13.93
Operating Margin 0.52 1.55 -1.53 1.16 1.34
Pretax Margin 0.19 1.28 -1.77 0.92 1.09
Effective Tax Rate 53.62 38.72 43.83 41.90
Net Profit Margin 0.09 0.78 -1.08 0.52 0.64
Normalized EBIT 11.44 34.79 -25.48 15.71 18.22
Normalized EBITDA 25.62 50.58 -13.27 27.60 30.05
Current Tax - Domestic -2.61 7.01 -2.62 0.26 2.92
Current Tax - Foreign 2.00 1.91 0.72 0.61 0.83
Current Tax - Local 0.32 0.95 0.08 0.41 0.95
Current Tax - Other
Current Tax - Total -0.29 9.87 -1.82 1.28 4.70
Deferred Tax - Domestic 3.62 1.35 -8.30 3.85 1.60
Deferred Tax - Foreign -1.48 -0.37 -0.12 -0.18 -0.34
Deferred Tax - Local 0.34 0.27 -1.16 0.55 0.29
Deferred Tax - Total 2.47 1.25 -9.58 4.21 1.54
Income Tax - Total 2.19 11.12 -11.39 5.49 6.24
Defined Contribution Expense - Domestic 0.88 0.80 0.66 0.55 0.53
Total Pension Expense 0.88 0.80 0.66 0.55 0.53
Retail Sales 2.19M 2.25M 1.66M 1.40M 1.41M
  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Restated) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Reclassified)
Cash & Equivalents 9.11 7.17 11.18 8.89 9.99
Cash and Short Term Investments 9.11 7.17 11.18 8.89 9.99
Accounts Receivable - Trade, Gross 422.18 359.78 341.58 200.03 197.16
Provision for Doubtful Accounts -2.18 -0.83 -0.56 -0.43 -1.41
Accounts Receivable - Trade, Net 419.99 358.95 341.02 199.60 195.75
Receivables - Other 19.66 0.00 0.00 0.00 0.00
Total Receivables, Net 439.66 358.95 341.02 199.60 195.75
Total Inventory 103.47 80.87 55.39 50.69 111.44
Prepaid Expenses 9.33 16.25 17.88 15.94 14.89
Deferred Income Tax - Current Asset 0.00 0.00 4.43 3.92 2.58
Discontinued Operations - Current Asset 0.00 5.81 5.81 0.03 5.85
Other Current Assets, Total 0.00 5.81 10.24 3.95 8.43
Total Current Assets 561.58 469.06 435.70 279.07 340.51
Buildings - Gross 40.16 0.00 31.63 26.47 15.79
Land/Improvements - Gross 17.96 0.00 12.85 12.01 12.01
Machinery/Equipment - Gross 84.04 0.00 73.76 88.60 76.12
Other Property/Plant/Equipment - Gross 8.50 0.00 6.31 6.02 4.90
Property/Plant/Equipment, Total - Gross 150.66 0.00 124.55 133.10 108.81
Accumulated Depreciation, Total -79.10 0.00 -67.78 -58.73 -53.02
Property/Plant/Equipment, Total - Net 71.55 56.35 56.77 74.37 55.79
Goodwill, Net 87.77 83.39 80.55 25.51 25.51
Intangibles - Gross 23.65 23.42 23.33 6.14 6.09
Accumulated Intangible Amortization -12.56 -8.35 -2.52 -1.47 -1.40
Intangibles, Net 11.09 15.07 20.81 4.67 4.68
LT Investments - Other 6.51 4.99 5.40 5.56 6.80
Long Term Investments 6.51 4.99 5.40 5.56 6.80
Deferred Income Tax - Long Term Asset 1.76 0.95 0.94 0.00 0.23
Discontinued Operations - Long Term Asset 0.00 0.00 0.00 0.01 1.30
Other Long Term Assets, Total 1.76 0.95 0.94 0.01 1.52
Total Assets 740.25 629.81 600.17 389.19 434.82
Accounts Payable 289.20 276.52 201.52 122.33 130.81
Accrued Expenses 54.44 63.40 51.58 26.11 30.30
Notes Payable/Short Term Debt 213.78 107.40 162.44 52.80 110.50
Current Portion of Long Term Debt/Capital Leases 3.96 11.17 12.91 3.74 1.17
Customer Advances 7.91 10.96 11.46 10.09 9.43
Discontinued Operations – Current Liability 0.00 4.60 4.95 0.58 0.71
Other Current liabilities, Total 7.91 15.56 16.41 10.67 10.14
Total Current Liabilities 569.29 474.05 444.86 215.64 282.91
Long Term Debt 32.89 18.75 21.45 28.02 18.25
Capital Lease Obligations 1.30 0.00 0.00 0.00 0.00
Total Long Term Debt 34.19 18.75 21.45 28.02 18.25
Total Debt 251.93 137.31 196.81 84.55 129.91
Deferred Income Tax - Long Term Liability 3.10 1.50 4.05 12.22 7.90
Deferred Income Tax 3.10 1.50 4.05 12.22 7.90
Other Long Term Liabilities 6.04 7.04 20.29 0.00 0.00
Other Liabilities, Total 6.04 7.04 20.29 0.00 0.00
Total Liabilities 612.63 501.34 490.66 255.87 309.06
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 134.65 127.78 122.93 120.92 115.80
Retained Earnings (Accumulated Deficit) 31.25 28.25 10.66 28.92 23.45
Treasury Stock - Common -38.54 -26.93 -23.33 -17.47 -15.32
Other Comprehensive Income 0.25 -0.64 -0.77 0.94 1.82
Other Equity, Total 0.25 -0.64 -0.77 0.94 1.82
Total Equity 127.63 128.47 109.52 133.32 125.76
Total Liabilities & Shareholders' Equity 740.25 629.81 600.17 389.19 434.82
Shares Outstanding – Common Stock Primary Issue 11.78 11.97 11.91 12.27 11.79
Total Common Shares Outstanding 11.78 11.97 11.91 12.27 11.79
Treasury Shares – Common Primary Issue 5.39 4.50 4.09 3.49 3.26
Employees 4,073.00 3,576.00 3,665.00 2,642.00 2,837.00
Part-Time Employees 89.00 69.00 74.00 66.00 83.00
Number of Common Shareholders 20.00 20.00 20.00 21.00 21.00
Accumulated Intangible Amortization 12.56 8.35 2.52 1.47 1.40
Deferred Revenue - Current 7.91 10.96 11.46 10.09 9.43
Total Current Assets less Inventory 458.10 388.18 380.31 228.38 229.06
Quick Ratio 0.80 0.82 0.85 1.06 0.81
Current Ratio 0.99 0.99 0.98 1.29 1.20
Net Debt 242.82 130.14 185.63 75.66 119.92
Tangible Book Value 28.77 30.01 8.16 103.13 95.57
Tangible Book Value per Share 2.44 2.51 0.68 8.41 8.11
Total Long Term Debt, Supplemental 250.03 0.00 201.60 0.00 0.00
Long Term Debt Maturing within 1 Year 217.14 0.00 180.15 0.00 0.00
Long Term Debt Maturing in Year 2 3.28 0.00 2.88 0.00 0.00
Long Term Debt Maturing in Year 3 15.65 0.00 2.35 0.00 0.00
Long Term Debt Maturing in Year 4 7.13 0.00 8.53 0.00 0.00
Long Term Debt Maturing in Year 5 6.75 0.00 1.97 0.00 0.00
Long Term Debt Maturing in 2-3 Years 18.93 0.00 5.23 0.00 0.00
Long Term Debt Maturing in 4-5 Years 13.87 0.00 10.50 0.00 0.00
Long Term Debt Maturing in Year 6 & Beyond 0.09 0.00 5.72 0.00 0.00
Interest Costs 0.00 0.00 0.00 0.00 0.00
Total Capital Leases 1.94 0.00 3.70 4.86 0.00
Capital Lease Payments Due in Year 1 0.64 0.00 2.27 2.31 0.00
Capital Lease Payments Due in Year 2 0.61 0.00 1.03 1.82 0.00
Capital Lease Payments Due in Year 3 0.37 0.00 0.18 0.68 0.00
Capital Lease Payments Due in Year 4 0.32 0.00 0.16 0.04 0.00
Capital Lease Payments Due in Year 5 0.00 0.00 0.06 0.02 0.00
Capital Lease Payments Due in 2-3 Years 0.98 0.00 1.21 2.49 0.00
Capital Lease Payments Due in 4-5 Years 0.32 0.00 0.21 0.06 0.00
Capital Lease Payments Due in Year 6 & Beyond 0.00 0.00 0.00 0.00 0.00
Total Operating Leases 28.95 0.00 23.26 22.28 22.54
Operating Lease Payments Due in Year 1 6.73 0.00 6.96 6.28 5.74
Operating Lease Payments Due in Year 2 5.74 0.00 4.20 5.00 5.27
Operating Lease Payments Due in Year 3 4.93 0.00 3.24 2.72 4.25
Operating Lease Payments Due in Year 4 4.24 0.00 2.49 2.37 1.72
Operating Lease Payments Due in Year 5 2.82 0.00 1.32 1.77 1.25
Operating Lease Payments Due in 2-3 Years 10.67 0.00 7.44 7.71 9.53
Operating Lease Payments Due in 4-5 Years 7.07 0.00 3.81 4.13 2.97
Standardized Operating Lease Payments Due in Year 6 and Beyond 4.49 0.00 5.06 4.16 4.29
Number of Stores Opened 0.00 0.00 0.00 0.00 2.00
Number of Stores, End of Period 0.00 0.00 0.00 0.00 4.00
  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Reclassified) Year Ending Dec 2015 (Reclassified) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Reclassified)
Net Income/Starting Line 3.09 17.59 -18.26 5.47 8.13
Depreciation – Supplemental 14.18 15.78 12.22 11.89 11.83
Depreciation/Depletion 14.18 15.78 12.22 11.89 11.83
Unusual Items -- 0.04 25.43
Equity in Net Earnings (Loss) -0.29 -- --
Other Non-Cash Items 3.21 3.21 -8.19 4.20 2.77
Non-Cash Items 2.91 3.25 17.24 4.20 2.77
Accounts Receivable -77.64 -17.42 -126.98 -3.55 -6.00
Inventories -22.60 -25.56 1.66 66.27 -48.02
Prepaid Expenses 7.06 1.77 -0.63 -1.33 -1.12
Other Assets -0.33 1.02 0.84 0.86 -3.91
Accounts Payable 8.54 87.70 54.31 -8.58 31.04
Accrued Expenses 3.87 12.95 6.32 -2.59 2.16
Other Liabilities -3.85 -0.57 1.07 0.64 4.05
Changes in Working Capital -84.96 59.89 -63.41 51.71 -21.80
Cash from Operating Activities -64.78 96.51 -52.21 73.26 0.92
Purchase of Fixed Assets -17.33 -8.71 -21.38 -26.67 -17.21
Capital Expenditures -17.33 -8.71 -21.38 -26.67 -17.21
Acquisition of Business -4.81 -2.08 -44.86
Sale of Fixed Assets
Other Investing Cash Flow Items, Total -4.81 -2.08 -44.86
Cash from Investing Activities -22.13 -10.78 -66.24 -26.67 -17.21
Other Financing Cash Flow -15.33 -13.71 -9.70 0.26 -0.87
Financing Cash Flow Items -15.33 -13.71 -9.70 0.26 -0.87
Repurchase/Retirement of Common -11.60 -3.61 -5.85 -2.15 -1.63
Common Stock, Net -11.60 -3.61 -5.85 -2.15 -1.63
Options Exercised 5.08 2.54 0.91 3.89 2.36
Issuance (Retirement) of Stock, Net -6.52 -1.07 -4.95 1.74 0.73
Short Term Debt, Net 109.58 -68.17 126.03 -57.80 19.84
Long Term Debt Issued 0.59 -- -- 0.21
Long Term Debt Reduction -1.31 -2.43 -2.39 -2.63 -2.93
Long Term Debt, Net -4.50 -7.60 -7.08 -5.11 -4.19
Total Debt Issued 5.22 0.53 17.70 13.73 4.60
Issuance (Retirement) of Debt, Net 110.30 -75.25 136.65 -49.18 20.25
Cash from Financing Activities 88.45 -90.02 122.00 -47.18 20.10
Foreign Exchange Effects 0.40 0.29 -1.27 -0.52 -0.36
Net Change in Cash 1.94 -4.00 2.28 -1.10 3.46
Net Cash - Beginning Balance 7.17 11.18 8.89 9.99 6.54
Net Cash - Ending Balance 9.11 7.17 11.18 8.89 9.99
Cash Interest Paid 7.07 5.37 3.62 3.35 3.23
Cash Taxes Paid 4.34 7.33 -4.96 6.21 2.97

In millions of USD (except for per share items)