Please Comment Financial ANalyst statement of findings

· Current ratio [6,740,000 / 39,370,000]

· Quick ratio-acid test [(6,740,000– 50,250,000) / 39,370,000]

· Net working capital to total assets [31,925,000/ 195,610,000]

Efficiency Measures

· Collection period [(4730000) / 61000]

· Inventory turnover [220,738,000/ 37,800,000]

· Fixed asset turnover [379,070,000 / 3,850,000]

Debt (Leverage) Measures

· Debt-to-asset ratio [111,220,000 / 121,080,000]

· Debt-to-equity ratio [111,220,000 / 84,390,000]

· Times-interest-earned (TIE) ratio [(2,380,000)/ (4.14)]

Profitability Measures

· Gross profit margin [158,330,000 / 379,070,000]

· Operating profit margin [(2,380,000) / 379,070,000]

· Net profit margin [(2,110,000) / 379,070,000]

· Return on assets (ROA) [(2,110,000) / 195,610,000]

· Return on equity (ROE) [(2,110,000) / 84,390,000]

Market-Based Measures

· Earnings per share (EPS) [18,256,266 / 17,400,000]

· Price-to-earnings ratio (P/E) [16,465,138 / 21.81]

· Market to book [324,080,000 / 84,390,000]

References Build A Bear Workshop. (2014, January 05). Build A Bear. Retrieved from www.buildabear.com: http://www.buildabear.com/shopping/workshop/Investor%20Relations/3100024/10100036;jsessionid=95B296C3D6148449C77C42EA362061E5.bab-app-02-p-app2

Period Ending12/28/201312/29/2012

Cash & Equivalents44,670,000 45,170,000

Cash and Short Term Investments44,670,000 45,170,000

Accounts Receivable - Trade, Net14,540,000 9,430,000

Total Receivables, Net14,540,000 9,430,000

Total Inventory50,250,000 46,900,000

Prepaid Expenses4,890,000 8,740,000

Deferred Income Tax - Current Asset80,000 990,000

Other Current Assets6,660,000 5,480,000

Other Current Assets, Total6,740,000 6,470,000

Total Current Assets121,080,000 116,710,000

Buildings - Gross--151,370,000

Land / Improvements - Gross--2,260,000

Machinery / Equipment - Gross--64,060,000

Construction in Progress - Gross--2,380,000

Other Property / Plant / Equipment - Gross247,680,000 40,520,000

Property / Plant / Equipment, Total - Gross247,680,000 260,590,000

Accumulated Depreciation, Total(177,510,000) (189,130,000)

Property / Plant / Equipment, Total - Net70,160,000 71,460,000

Goodwill, Net---

Intangibles - Gross--12,150,000

Accumulated Intangible Amortization--(11,520,000)

Intangibles, Net520,000 630,000

Other Long Term Assets3,850,000 3,300,000

Other Long Term Assets, Total3,850,000 3,300,000

Total Assets195,610,000 192,100,000

Accounts Payable34,980,00038,980,000

Accrued Expenses16,380,0006,270,000

Notes Payable / Short Term Debt00

Customer Advances4,690,0004,800,000

Income Taxes Payable--5,300,000

Deferred Income Tax - Current Liability900,000--

Discontinued Operations - Current Liability33,790,00030,850,000

Other Current liabilities, Total39,370,00040,950,000

Total Current Liabilities90,730,000 86,200,000

Total Long Term Debt00

Total Debt00

Other Long Term Liabilities20,490,000 22,760,000

Other Liabilities, Total20,490,000 22,760,000

Total Liabilities111,220,000 108,970,000

Redeemable Convertible Preferred Stock0--

Redeemable Preferred Stock, Total0--

Common Stock170,000 170,000

Common Stock, Total170,000 170,000

Additional Paid-In Capital69,090,000 66,110,000

Retained Earnings (Accumulated Deficit)22,430,000 24,540,000

Translation Adjustment(7,300,000) (7,680,000)

Other Equity, Total(7,300,000) (7,680,000)

Total Equity84,390,000 83,140,000

Total Liabilities & Shareholders' Equity195,610,000 192,100,000

Shares Outstanding - Common Stock Primary Issue17,390,000 17,070,000

Total Common Shares Outstanding17,390,000 17,070,000

Treasury Shares - Common Stock Primary Issue00

Number of Common Shareholders2,8642,541

Accumulated Intangible Amortization--11,520,000

Deferred Revenue - Current4,690,000 4,800,000

Deferred Revenue - Long Term910,000 1,180,000

Total Current Assets less Inventory70,840,000 69,800,000

Quick Ratio780,000 810,000

Current Ratio1,330,000 1,350,000

Net Debt(44,670,000) (45,170,000)

Tangible Book Value83,870,000 82,500,000

Tangible Book Value per Share4,820,000 4,830,000

Total Operating Leases, Supplemental--205,680,000

Balance Sheet

Build-A-Bear Workshop

Period Ended12/28/201312/29/2012

Net Sales379,070,000 380,940,000

Revenue379,070,000 380,940,000

Total Revenue379,070,000 380,940,000

Cost of Revenue220,740,000 230,180,000

Cost of Revenue, Total220,740,000 230,180,000

Gross Profit158,330,000 150,760,000

Selling / General / Administrative Expense157,910,000 165,520,000

Labor & Related Expense2,800,000 --

Selling / General / Administrative Expenses, Total160,710,000 165,520,000

Investment Income - Operating----

Interest / Investment Income - Operating----

Interest Expense (Income), Net-Operating, Total----

Impairment-Assets Held for Use- 33,670,000

Unusual Expense (Income)- 33,670,000

Other Operating Expense----

Other Operating Expenses, Total -- --

Total Operating Expense381,450,000 429,370,000

Operating Income(2,380,000) (48,430,000)

Interest Income (Expense), Net Non-Operating0.260

Interest Income (Expense), Net-Non-Operating, Total0.260

Net Income Before Taxes(2,120,000) (48,430,000)

Provision for Income Taxes(10,000) 870,000

Net Income After Taxes(2,110,000) (49,300,000)

Net Income Before Extraordinary Items(2,110,000) (49,300,000)

Net Income(2,110,000) (49,300,000)

Miscellaneous Earnings Adjustment---

Total Adjustments to Net Income---

Income Available to Common Excluding Extraordinary Items(2,110,000) (49,300,000)

Income Available to Common Stocks Including Extraordinary Items(2,110,000) (49,300,000)

Build-A-Bear Workshop

Income Statement