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CHBD Merged with Camuto Merger Sub, Inc. $0.21 per share; Deletion Time: 12:17:09
http://www.otcbb.com/asp/dailylist_detail.asp?d=07/11/2012&mkt_ctg=OTCBB
Wow no posts in over 4 yrs!! If anybodies out there ya might have a buy offer of .13 pps
Me too and ditto. Next, onward, and upward. EOM
I sold out of my shares this morning. I didn't like the report.
Mike
Bernard Chaus Reports Third Quarter 2007 Results
Thursday May 3, 8:29 am ET
NEW YORK--(BUSINESS WIRE)--Bernard Chaus, Inc. (OTC Bulletin Board: CHBD.OB - News) today reported its financial results for the third quarter and first nine months of fiscal 2007.
For the third quarter ended March 31, 2007, revenues were $38.2 million compared to $39.7 million in the third quarter of fiscal 2006. Net income for the third quarter of fiscal 2007 was $563,000, or $0.01 per diluted share on a weighted average of 38.0 million shares outstanding, compared to net income of $951,000, or $0.03 per diluted share on a weighted average of 38.0 million shares outstanding, in the third quarter last year.
For the nine-month period ended March 31, 2007, revenues increased by approximately 16.6% to $117.1 million from $100.5 million in the same period a year ago. Net income for the first nine months of fiscal 2007 was $3.1 million, or $0.08 per diluted share on a weighted average of 38.0 million shares outstanding, compared to a net loss in the year-ago period of $3.8 million, or a loss of $0.10 per diluted share on a weighted average of 36.8 million shares outstanding.
Josephine Chaus, Chairwoman and Chief Executive Officer, said, "The Company achieved significantly improved results for the year-to-date period reflecting higher revenue and lower costs as a percentage of sales. We continue to focus on our three-pronged strategy of growing our branded, private label and licensed businesses."
Bernard Chaus, Inc., designs, sources and markets an extensive range of women's career and casual sportswear, principally under the Josephine Chaus, Chaus, Cynthia Steffe and Cynthia Cynthia Steffe trademarks, as well as private label. The Company's products are sold nationwide through department store chains, specialty retailers and other outlets. The Company also has a license agreement with Kenneth Cole Productions, Inc. for the manufacture and sale of a women's sportswear line under the Kenneth Cole Reaction label.
This press release contains forward-looking statements that are based upon current expectations and involve a number of uncertainties including retail market conditions, success of new initiatives, the Company's ability to effectively execute its business plan, consumer acceptance of the Company's products, including the new Kenneth Cole Reaction label, and the ability to achieve anticipated profit margins. Further information on potential factors which could affect the Company's financial results are included in the Company's Form 10-K for the year ended June 30, 2006 and subsequent Form 10-Qs.
-Tables Follow -
BERNARD CHAUS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except number of shares and per share amounts)
For the Three Months Ended For the Nine Months Ended
March 31, March 31, March 31, March 31,
2007 2006 2007 2006
------------- ------------ ------------ ------------
Net revenue $ 38,243 $ 39,731 $ 117,139 $ 100,451
Cost of goods
sold 26,685 27,342 81,715 72,704
------------- ------------ ------------ ------------
Gross profit 11,558 12,389 35,424 27,747
Selling, general
and
administrative
expenses 10,626 11,104 31,292 30,738
------------- ------------ ------------ ------------
Income (loss)
from operations 932 1,285 4,132 (2 ,991)
Interest expense,
net 334 297 876 721
------------- ------------ ------------ ------------
Income (loss)
before income
tax provision 598 988 3,256 (3,712)
Income tax
provision 35 37 184 112
------------- ------------ ------------ ------------
Net income (loss) $ 563 $ 951 $ 3,072 $ (3,824)
============= ============ ============ ============
Basic earnings
(loss) per share $ 0.02 $ 0.03 $ 0.08 $ (0.10)
============= ============ ============ ============
Diluted earnings
(loss) per share $ 0.01 $ 0.03 $ 0.08 $ (0.10)
============= ============ ============ ============
Weighted average
number of common
shares
outstanding -
basic 37,510,000 37,530,000 37,512,000 36,847,000
============= ============ ============ ============
Weighted average
number of common
and common
equivalent
shares
outstanding -
diluted 38,042,000 38,030,000 37,966,000 36,847,000
============= ============ ============ ============
BERNARD CHAUS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEET DATA
(Dollars in thousands)
March 31, March 31,
2007 2006
--------- ---------
Cash $ 57 $ 47
Accounts receivable, net 28,019 29,699
Inventories 8,497 9,255
Prepaid expenses and other current assets 547 677
--------- ---------
Total current assets 37,120 39,678
Fixed and other assets, net 3,296 3,630
Goodwill and trademarks 3,257 3,257
--------- ---------
Total assets $ 43,673 $ 46,565
========= =========
Revolving credit borrowings $ 6,122 $ 9,065
Accounts payable and accrued expenses 11,534 11,706
Term loan - current 1,700 1,700
--------- ---------
Total current liabilities 19,356 22,471
Term loan and other long-term liabilities 3,550 5,483
--------- ---------
Total liabilities 22,906 27,954
Total stockholders' equity 20,767 18,611
--------- ---------
Total liabilities and stockholders' equity $ 43,673 $ 46,565
========= =========
There is a possibility that Bernard Chaus could get the Kenneth Cole New York women's sportswear license in addition to their Kenneth Cole Reaction women's license. On November 2, 2006, Kenneth Cole Productions terminated their agreement with Paul Davril, Inc regarding the Kenneth Cole New York Men's and women's sportswear license. Here is a link:
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0000921691-06-000081&Type=HTML
At this point I would give this a 10% odds of happening as it is pure speculation.
I did listen to the Kenneth Cole Productions Q1 conference call. There was a brief reference to CHBD but they didn't say anything material regarding CHBD.
Mike
been accumulating this stock....BRIG
I found out there is also a Cynthia Steffe web site which is located here:
http://www.cynthiasteffe.com
I also added it to the iBox.
Mike
CHBD is having a nice day today. It is up $0.05/share to $1.10.
Mike
Here is an interesting CHBD post from Yahoo:
Mike, well summarized earnings projection. Here are some other factors that will influence Q3, as I see it. There will be SG&A savings of .01-.02/share related to the lack of Cynthia Steffe fashion show ( I believe that will have little impact in the short run on sales). Second, I believe the Cynthia Steffe sell through has improved, and with potential of 42% GM this will add an additional positive factor. With the increased Chaus, and private-label business the revenue # could be surprisingly on the higher side of estimate. ( Take a look at Dillards website, Judith Hart is a private-label Chaus does for them, and the volume of spring-line appears greater than past quarters.) In reading the 10-Q, I'm intrigued by the $400,000 exp./6 mo. toward "professional and consulting fees". Spent to what purpose? Since KCP owns 16% of CHBD.OB and the leading Inst.owner ,Royce with 2,200,000 shares ( Large % owner in KCP as well) the relationship to KCP is an important one to follow. Therefore the changes in KCP can have a significant impact on Chaus. For example, with the Kenneth Cole New York label coming back to KCP, will they look to Chaus to design/source? This question was asked of Kenneth Cole by Opp. analyst at previous conference call. Much to think about. Any thoughts, insight or speculation? What are your thoughts on the N.O.L.? If Chaus was to merge, or be bought by a "like and kind" apparel Co. N.O.L. worth $1.15/share onto itself. KCP to announce their plans very shortly as stated at the conference call. ( By the look of KCP trading in the last 2 days this should be soon and positive ) What do you think of J. Chaus's Dec.( Press release) statement of taking the entire business to the next level? It's been 3 months, no news, too quiet?
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&bn=35120&tid=....
Mike
Here are some estimates for Q3:
Next quarter (Q3 ending March 31) is CHBD's seasonally stronger quarter. Their revenue has been stronger year over year for the past three quarters. The average revenue for the March quarter in the past three years has been $42M with a range of $40-$44M. I'm thinking that this year revenue will come in the range of $42-$46M. I'm guessing GM will come in at roughly 30.5%. I'll assume SG&A of $10.4M, interest expense of $270K, a 7% tax rate, and a diluted share count of 38M shares. That translates to earnings of $0.052-$0.082. I think that higher earnings are quite possible but I don't want to set the expectations too high.
Q3 earnings of $0.052-$0.082 would translate to a first nine months earnings of $0.119-$0.148. My expectations are for the stock to run to the $1.30 to $2.00 range if my earnings prediction is correct. I also think that it may run up in anticipation of the earnings.
Mike
CHBD is building a nice base here.
Mike
The guy who is selling is running out of shares now. He only has 15,000 left I think. All is just my opinion, and I could always be wrong though.
I picked up a few more shares today at $1.08.
Mike
Looks like the insider sales may be done today. He had only 25K shares left as of 2/14.
dashrip417 re: insider sale....
I agree with SKILLZ1. I wouldn't worry about the insider sales. I don't think they mean much. I strongly believe in this stock and think that we will be rewarded when the next quarterly earnings come out.
Mike
Dashrip417 (On CHBD.ob) I think it is a temporary setback. I'm not a big believer in insider sales, when I only see one person selling a small amount of share. Now if numerous people start selling then I would be concerned. It might of stopped momentum for now, but I figured we would hit around the $1.07-1.08 level at some point before we moved higher anyways, I think the move up might take longer, but barring something unforseen the market has roughly 3 months to look at that fantastic earning report, and I can't see how we won't be substancially higher by the time of the next earnings report. All is just my opinion, and I could always be wrong though.
Disclosure: CHBD.ob is my largest position.
Insider sale
I realize that the director who sold half all his shares in the company in the past week is 77 years old, but talk about killing the momentum of a stock.
Apparently his son is supposed to be a wizard stock picker, which makes it even worse.
Who could have seen that coming? Can't catch a break with any of my picks lately it seems.
Brought some more CHBD.ob at $1.12 today, feel this price will prove to be a bargain in a couple of months. CHBD.OB is now by far my largest position. I believe it it resting in the $1.10-1.12 level, before it next run, which will occur when the stock breaks above $1.18. All is just my opinion, and I could always be wrong though.
Last post "three days ago" ?! C'mon, people!
post some messages. Get a little excited. Can't you feel it? $2 is just around the corner. Today's zero cheap shares available after record volume last week proves it -- this one's ticking!
Tick, tick, tick... BOOM!
And yeah, I'm saying it breaks big manana (actually today) Feb. 13.
MikeS: Thanks for hosting this board, I bought a small position today at 1.14 to help SSK's PSL5 ranking! Will watch it carefully.
I'll amend my post from yesterday
about being "two buys away from $1.20" to we are just two DAYS away from $1.20 and higher price levels starting Tuesday. The chart is looking very solid and predictable at this point.
I direct your attention specifically to the candle chart posted above this message in the IBox. Look at the long candle jump up last week followed by a short red candle, two subsequent short white candles and then another long white... I submit that we are in a continuation of this very same candlestick pattern: long white, short red,two short whites, and the POP.
Monday will be the second short white, followed by Tuesday's pop, which could well be a HUGE breakout volume and price day methinks, $1.50 plus.
SSKILLZ, I could see that
happening Monday, but only briefly, which will prove the strength of CHBD at the current price. I see it less as shaking and more as tree "strengthening" going on right here. Cheap shares are very difficult to come by now as more people have seen CHBD percolating with new unusually higher trading volume, and that naturally leads them to check and find that the company's annual net income is actually .15 per share. So the true forward-looking PE is about 7.5, basic math.
This is AT LEAST a buck-fifty stock next week, on its way higher.
Personally just a gut feeling but I think next week, I wouldn't be surprised if we have a tree shaking first down to the $1.08-1.10 level, before we see higher prices. It may or may not happen. But obviously a break above $1.18 and we will be off to the races again. All is just my opinion, and I could always be wrong though.
Disclosure: I own CHBD.ob
Looking at the chart
It appears that CHBD is doing the 1-2-3-4 day cha-cha, by holding firm at this level with the next likely pop in share price coming Tuesday.
This is a $2-plus stock, fair market value.
Just two buys away from $1.20
Shares are being tightly held today. Buyers lurking. That's my sense of the day's trading. Looking at level two, it appears if someone takes out the 5,000 shares at $1.15 and $1.16 we're off to the $1.20s and seriously running.
I'm quite pleased with the volume.
Mike
The volume continues to be good
Indicating a lot more interest in CHBD as a stock to be traded than anytime in the past year.
The short-term downside risk at this price is only about five to 10 percent. The upside gain potential on the other hand is a doubling of your investment.
Reminds me of DKAM in early December at this point. If we can close green or near to green by even a penny, $1.19, $1.20 in the next day or two, this is going to look like a VERY solid play to technical traders.
Kenneth Cole Productions
While we're all waiting patiently for the share price of CHBD to continue climbing to fairer market value (only a matter of time, too), I thought I'd paste this interesting info tidbit about the primary revenue generator for CHBD these days, excerpted from the business section of the St. Petersburg times:
www.sptimes.com/2007/01/16/Business/Retail_s_future_is_in.shtml
Ever wonder why Kenneth Cole Productions Inc. has such an unusual name? The namesake and shoe designer wanted to make a splash on the cheap when he first tried to sell his shoes to retailers 20 years ago. So he borrowed a 40-foot trailer as a showroom he would park on a busy New York street for three days. Getting a parking permit required approval from a variety of utilities, but instant approval could be had for film production. "I changed the company name the next day and said we were filming the birth of a new fashion company," Cole said. "We set up klieg lights, sold 40,000 pairs of shoes and kept film in the camera most of the time."
* * *
dashrip417, I think you have a reasonable estimate of annual earnings of $0.15/share. A multiple of 15 makes sense as well. I'm thinking that Q3 could come in the neighborhood of $0.05 or $0.06/share with further upside potential but I haven't had a chance to do some detailed analysis.
Mike
Price target
Mike, I hope this post doesn't violate the spirit of what you have made a very respectable, no-hype board, but I would like to see how many others feel similar to me about the short term target here.
It seems to me that basic math and growing earnings per share momentum means this stock deserves to be trading at least at a price to earnings ratio of 15.
Looking forward, if they post .03 per share in what is traditionally their "worst" quarter, then, conservatively, it appears they are going to pull 4 cents per share net income in each of the other three quarters, for an annual sum net income of: .15.
Fifteen multiplied by 15 = $2.25.
A conservative short-term price target would be $2.10, no?
We have had some nice volume and price action so far today. So far there have been 542,575 shares traded. We are currently at the HOD which is $1.17.
Mike
CHBD valuation is cheap by comparison to where the stock and earnings were a year ago ....
Last February the stock traded in a narrow range of $0.87 to $0.95 for the entire month even after reporting $0.00 earnings for September fiscal Q1 and a big loss of ($0.13) for Q2 -
This year the stock is trading only modestly higher on EPS of $0.04 in Q1 and $0.03 in Q2 .... and Q2 is seasonally weak !
+.08 to 1.08, a new 52wk high .... nice breakout today on solid volume of 70k in the first hour of trading ....
The 10-Q is out and I did a quick scan. The only new item worthy of discussion that I found is the following description of revenue and the product mix:
"Net revenues for the quarter ended December 31, 2006 increased by 71.2%, or $16.4 million, to $39.4 million from $23.0 million for the quarter ended December 31, 2005. Units sold increased from 1.6 million to 2.5 million or approximately 56% and the overall price per unit increased from $14.50 to $15.50 or approximately 7%. The Company’s revenues increased primarily due to an increase in revenues in the Company’s private label and licensed product lines ($7.5 million), the Company’s Chaus product lines ($7.8 million) and the Company’s Cynthia Steffe product lines ($1.0 million). The increase in the private label and licensed product lines are primarily attributable to the Kenneth Cole Reaction label which the company began shipping in December 2005. "
Mike
Volume started out very slow but then picked up. So far today we traded 30,518 shares.
Mike
I think we will see higher volume on this stock for a while. I often see volume increase as results improve and shareholder interest increases.
Mike
Mike, nice board and it went up fast!
Prior to yesterday's volume surge of 730k shares, the average trading volume according to Yahoo was 5-6k shares if my memory serves me correctly. Looking back over a few months, I see quite a few days where the stock didn't even trade.
I am viewing yesterday's action as a liquidity event. Any large holders would have had a tough time selling their shares without torpedoing the price in the recent past.
Hello board. I'm a little late for the PR. Going to try to pick up some shares today.
Good to see ya Serf.
Mike
Hi Mike! Looking forward to watching this one...
My DD is summarized in the iBox above. Please take a look.
Mike
Gross margins have been increasing nicely. Gross margin in Q2'07 was 30.0% vs 20.8% a year ago. However, that was in part due to sales that were deferred from Q2'06 to Q3'06. Gross margin in Q1'07 was 30.4% vs 28.1% a year ago. Clearly gross margins are improving. To put things in perspective, a 2% increase in gross margins results in a increase in earnings of $0.021/share (before tax) per quarter.
Mike
Here is some information on seasonality from the 10-K. Note that Q2 which was just reported had outstanding earnings and is a seasonally weak quarter!
"Historically, the Company's sales and operating results fluctuate by quarter, with the greatest sales occurring in the Company's first and third fiscal quarters. It is in these quarters that the Company's Fall and Spring product lines, which traditionally have had the highest volume of net sales, are shipped to customers, with revenues recognized at the time of shipment. As a result, the Company experiences significant variability in its quarterly results and working capital requirements. Moreover, delays in shipping can cause revenues to be recognized in a later quarter, resulting in further variability in such quarterly results."
Mike
Their growth is in large part due to the Kenneth Cole Reaction line which started shipping about a year ago. Here is an excerpt from the Q1 10-Q:
"Net revenues for the quarter ended September 30, 2006 increased by 4.7%, or $1.8 million, to $39.5 million from $37.7 million for the quarter ended September 30, 2005. Units sold increased by approximately 2.5% and the overall price per unit increased by approximately 2.2%. The Company's revenues increased due to an increase in revenues in the Company's private label and licensed product lines ($7.4 million), partially offset by a decrease in revenues in the Company's Chaus product lines ($4.3 million) and the Company's Cynthia Steffe product lines ($1.3 million). The increase in the private label and licensed product line are primarily attributable to the Kenneth Cole Reaction label which the company began shipping in December 2005."
Mike
Bernard Chaus Reports First Quarter 2007 Results
Bernard Chaus, Inc. (OTC Bulletin Board: CHBD) today reported its financial results for the first quarter of fiscal 2007.
For the first quarter ended September 30, 2006, revenues increased by approximately 4.7% to $39.5 million from $37.7 million in the same period last year. The Company reported a net profit for the first quarter 2007 of $1.2 million, or $0.03 per diluted share on a weighted average of 37.9 million shares outstanding. This compares to a net profit of $96,000, or breakeven on a per share basis on a weighted average of 37.7 million shares outstanding, in the first quarter a year ago.
Josephine Chaus, Chairwoman and Chief Executive Officer, said, "We are pleased that fiscal 2007 has gotten off to a positive start. We look forward to building on the initial results of our women's Kenneth Cole Reaction line, launched during Spring 2006, in addition to pursuing opportunities across our Chaus, Cynthia Steffe and private label businesses."
Bernard Chaus, Inc., designs, sources and markets an extensive range of women's career and casual sportswear, principally under the Josephine Chaus, Chaus, Cynthia Steffe and Cynthia Cynthia Steffe trademarks, as well as private label. The Company's products are sold nationwide through department store chains, specialty retailers and other outlets. The Company also has a license agreement with Kenneth Cole Productions, Inc. for the manufacture and sale of a women's sportswear line under the Kenneth Cole Reaction label.
This press release contains forward-looking statements that are based upon current expectations and involve a number of uncertainties including retail market conditions, success of new initiatives, the Company's ability to effectively execute its business plan, consumer acceptance of the Company's products, including the new Kenneth Cole Reaction label, and the ability to achieve anticipated profit margins. Further information on potential factors which could affect the Company's financial results are included in the Company's Form 10-K for the year ended June 30, 2006 and subsequent Form 10-Qs.
--------------------------------------------------------------------------------
BERNARD CHAUS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except number of shares and per share amounts)
(Unaudited)
For the Quarter Ended
September 30, September 30,
2006 2005
------------- -------------
Net revenue $ 39,509 $ 37,718
Cost of goods sold 27,478 27,134
------------- -------------
Gross profit 12,031 10,584
Selling, general and administrative
expenses 10,430 10,229
------------- -------------
Income from operations 1,601 355
Interest expense, net 272 230
------------- -------------
Income before provision for income taxes 1,329 125
Income tax provision 85 29
------------- -------------
Net income $ 1,244 $ 96
============= =============
Basic earnings per share $ 0.03 $ -
============= =============
Diluted earnings per share $ 0.03 $ -
============= =============
Weighted average number of common shares
outstanding - basic 37,516,000 36,002,000
============= =============
Weighted average number of common and
common equivalent shares outstanding -
diluted 37,924,000 37,688,000
============= =============
BERNARD CHAUS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEET DATA
(Dollars in thousands)
(Unaudited)
September 30, September 30,
2006 2005
---------------- ---------------
Cash $ 56 $ 92
Accounts receivable, net 27,138 28,217
Inventories 11,303 8,942
Prepaid expenses and other current
assets 695 866
---------------- ---------------
Total current assets 39,192 38,117
Fixed and other assets, net 3,515 3,802
Goodwill and trademarks 3,257 3,257
---------------- ---------------
Total assets $ 45,964 $ 45,176
================ ===============
Revolving credit borrowings $ 5,973 $ 2,846
Accounts payable and accrued expenses 14,805 12,487
Term Loan - current 1,700 1,700
---------------- ---------------
Total current liabilities 22,478 17,033
Term loan and other long-term
liabilities 4,412 6,289
---------------- ---------------
Total liabilities 26,890 23,322
Total stockholders' equity 19,074 21,854
---------------- ---------------
Total liabilities and stockholders'
equity $ 45,964 $ 45,176
================ ===============
Bernard Chaus Reports Second Quarter 2007 Results
Wednesday January 31, 4:05 pm ET
NEW YORK--(BUSINESS WIRE)--Bernard Chaus, Inc. (OTC Bulletin Board: CHBD.OB - News) today reported its financial results for the second quarter and first six months of fiscal 2007.
For the second quarter ended December 31, 2006, revenues increased by approximately 71.2% to $39.4 million from $23.0 million in the second quarter last year. The Company reported net income for the second quarter of 2007 of $1.3 million, or $0.03 per diluted share on a weighted average of 38.0 million shares outstanding, compared to a net loss of $4.9 million, or a loss of $0.13 per diluted share on a weighted average of 37.0 million shares outstanding, in the second quarter of fiscal 2006.
For the six-month period ended December 31, 2006, revenues grew by approximately 29.9% to $78.9 million, up from $60.7 million in the same period last year. Net income for the first half of fiscal 2007 was $2.5 million, or $0.07 per diluted share on a weighted average of 37.9 million shares outstanding, compared to a net loss in the year-ago period of $4.8 million, or a loss of $0.13 per diluted share on a weighted average of 36.5 million shares outstanding.
Josephine Chaus, Chairwoman and Chief Executive Officer, said, "We are very pleased with the increases achieved in both revenue and income for the quarter. The gains were driven by higher revenues across our branded, private label and licensed product lines."
Bernard Chaus, Inc., designs, sources and markets an extensive range of women's career and casual sportswear, principally under the Josephine Chaus, Chaus, Cynthia Steffe and Cynthia Cynthia Steffe trademarks, as well as private label. The Company's products are sold nationwide through department store chains, specialty retailers and other outlets. The Company also has a license agreement with Kenneth Cole Productions, Inc. for the manufacture and sale of a women's sportswear line under the Kenneth Cole Reaction label.
This press release contains forward-looking statements that are based upon current expectations and involve a number of uncertainties including retail market conditions, success of new initiatives, the Company's ability to effectively execute its business plan, consumer acceptance of the Company's products, including the new Kenneth Cole Reaction label, and the ability to achieve anticipated profit margins. Further information on potential factors which could affect the Company's financial results are included in the Company's Form 10-K for the year ended June 30, 2006 and subsequent Form 10-Qs.
BERNARD CHAUS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except number of shares and per share amounts)
For the Three Months Ended For the Six Months Ended
December 31, December 31, December 31, December 31,
2006 2005 2006 2005
------------- ------------ ------------ ------------
Net revenue $ 39,387 $ 23,002 $ 78,896 $ 60,720
Cost of goods
sold 27,552 18,228 55,030 45,362
------------- ------------ ------------ ------------
Gross profit 11,835 4,774 23,866 15,358
Selling, general
and
administrative
expenses 10,236 9,405 20,666 19,634
------------- ------------ ------------ ------------
Income (loss)
from operations 1,599 (4,631) 3,200 (4,276)
Interest expense,
net 270 194 542 424
------------- ------------ ------------ ------------
Income (loss)
before for
income tax
provision 1,329 (4,825) 2,658 (4,700)
Income tax
provision 64 46 149 75
------------- ------------ ------------ ------------
Net Income (loss) $ 1,265 $ (4,871) $ 2,509 $ (4,775)
============= ============ ============ ============
Basic earnings
(loss) per share $ 0.03 $ (0.13) $ 0.07 $ (0.13)
============= ============ ============ ============
Diluted earnings
(loss) per share $ 0.03 $ (0.13) $ 0.07 $ (0.13)
============= ============ ============ ============
Weighted average
number of common
shares
outstanding -
basic 37,509,000 37,025,000 37,513,000 36,513,000
============= ============ ============ ============
Weighted average
number of common
and common
equivalent
shares
outstanding -
diluted 37,971,000 37,025,000 37,946,000 36,513,000
============= ============ ============ ============
BERNARD CHAUS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEET DATA
(Dollars in thousands)
December 31, December 31,
2006 2005
--------------- ----------------
Cash and cash equivalents $ 81 $ 3,626
Accounts receivable, net 25,779 14,900
Inventories 10,789 10,932
Prepaid expenses and other current
assets 850 641
--------------- ----------------
Total current assets 37,499 30,099
Fixed and other assets, net 3,457 3,639
Goodwill and trademarks 3,257 3,257
--------------- ----------------
Total assets $ 44,213 $ 36,995
=============== ================
Revolving credit borrowings $ 4,856 $ -
Accounts payable and accrued expenses 13,357 11,802
Term loan - current 1,700 1,700
--------------- ----------------
Total current liabilities 19,913 13,502
Term loan and other long-term
liabilities 3,949 5,882
--------------- ----------------
Total liabilities 23,862 19,384
Total stockholders' equity 20,351 17,611
--------------- ----------------
Total liabilities and stockholders'
equity $ 44,213 $ 36,995
=============== ================
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