Hifsa Shakat

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Income Statement

Exhibit 1 Income Statement 2008-2009 2009-2010
Fiscal Year percentage change (%) percentage change (%)
2010 2009 2008
Revenues:
Net retail sales $387,163 $388,552 $460,963 -15.708636051 -0.3574811093
Franchise fees 3,043 3,353 4,157 -19.3408708203 -9.2454518342
Commercial revenue 11,246 4,001 3,196 25.1877346683 181.0797300675
Total revenues 401,452 395,906 468,316 -15.4617822154 1.4008375726
Costs and expenses:
Cost of merchandise sold 239,556 247,511 270,918 -8.6398836548 -3.2139985698
Selling, general, and administrative 163,910 161,692 185,608 -12.8852204646 1.3717438092
Store preopening 708 90 2,410 -96.265560166 686.6666666667
Store closing — 981 2,952 -66.7682926829
Interest expense (income), net (250) (143) (799) -82.1026282854 74.8251748252
Total costs and expenses 403,924 419,746 461,089 -8.9663817614 -3.7694224602
Income before income taxes (2,472) (23,840) 7,227 -429.8740832987 -89.6308724832
Income tax expense (2,576) (11,367) 2,663 -526.8494179497 -77.3379079792
Net income $104 ($12,473) $4,564 -373.2909728309 -100.8338010102
Earnings per common share:
Basic $0.01 ($0.66) $0.24 -375 -101.5151515152
Diluted $0.01 ($0.66) $0.24 -375 -101.5151515152
Shares used in computing common per share amounts:
Basic 18,601,465 18,874,352 19,153,123 -1.4554858756 -1.4458085766
Diluted 19,034,048 18,874,352 19,224,273 -1.8202040722 0.8461005708

Balance Sheet

Exhibit 2 Balance Sheet (in thousands of dollars, except share and per-share data)
January 1, 2011 January 1, 2010 absolute change percentage change (%)
Assets
Current assets:
Cash and cash equivalents $58,755 $60,399 ($1,644) -2.7218993692
Inventories 46,475 44,384 $2,091 4.7111571738
Receivables 7,923 5,337 $2,586 48.4541877459
Prepaid expenses and other current assets 18,425 19,329 ($904) -4.676910342
Deferred tax assets 7,465 6,306 $1,159 18.3793212813
Total current assets 139,043 135,755 $3,288 2.422010239
Property and equipment, net 88,029 101,044 ($13,015) -12.880527295
Goodwill 32,407 33,780 ($1,373) -4.0645352279
Other intangible assets, net 1,444 3,601 ($2,157) -59.9000277701
Other assets, net 14,871 10,093 $4,778 47.3397404141
Total Assets $275,794 $284,273 ($8,479) -2.982696211
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable $36,325 $32,822 $3,503 10.6727195174
Accrued expenses 15,488 11,185 $4,303 38.4711667412
Gift cards and customer deposits 28,880 29,301 ($421) -1.4368110303
Deferred revenue 6,679 8,582 ($1,903) -22.1743183407
Total current liabilities 87,372 81,890 $5,482 6.694346074
Deferred franchise revenue 1,706 2,027 ($321) -15.8362111495
Deferred rent 28,642 34,760 ($6,118) -17.6006904488
Other liabilities 361 816 ($455) -55.7598039216
Commitments and contingencies
Stockholder’s equity:
Preferred stock, par value $0.01, Shares authorized: — —
15,000,000: No shares issued or outstanding at
January 3, 2009 and December 29, 2007
Common stock, par value $0.01. Shares authorized: 196 204 ($8) -3.9215686275
50,000,000. Issued and outstanding: 19,478,750 and
20,676,357 shares, respectively
Additional paid-in capital 76,582 80,122 ($3,540) -4.4182621502
Accumulated other comprehensive (loss) income (9,959) (6,336) 0
Retained earnings 90,894 90,790 $104 0.1145500606
Total stockholders’ equity 157,713 164,780 ($7,067) -4.2887486345
Total Liabilities and Stockholders’ Equity $275,794 $284,273 ($8,479) -2.982696211
Soutce: Build-A-Bear Workshop Inc. From 10-K report

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