SPWH FY 2013 Earnings Report — Sportsman's Warehouse Holdings, Inc. Revenue & Financial Results | Market Cap Arena

Sportsman's Warehouse Holdings, Inc.SPWH

FY 2013 Earnings

Reported January 30, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$643M	—	$527M	—	22.1%
Op. Income	$60M	—	$53M	—	12.3%
Gross Margin	32.2%	—	30.9%	—	1.4pp
Net Margin	3.4%	—	5.3%	—	-1.9pp
EPS (Diluted)	$0.53	—	$0.68	—	-22.1%
Free Cash Flow	-$20M	—	$55M	—	-137.0%

Revenue Flow

Item	Amount
REVENUE	$643M
Cost of Revenue	$436M
GROSS PROFIT	$207M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$142M
SG&A Expenses	$147M
Other Expenses	$0
Operating Expenses	$147M
Cost & Expenses	$583M
OPERATING INCOME	$60M
Interest Income	$0
Interest Expense	$25M
Other Income/Expenses	-$25M
INCOME BEFORE TAX	$35M
Income Tax Expense	$13M
Net Income from Continuing Ops	$22M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$13M
EBIT	$62M
EBITDA	$66M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$643M
Cost of Revenue	$436M
GROSS PROFIT	$207M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$142M
SG&A Expenses	$147M
Other Expenses	$0
Operating Expenses	$147M
Cost & Expenses	$583M
OPERATING INCOME	$60M
Interest Income	$0
Interest Expense	$25M
Other Income/Expenses	-$25M
INCOME BEFORE TAX	$35M
Income Tax Expense	$13M
Net Income from Continuing Ops	$22M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$13M
EBIT	$62M
EBITDA	$66M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$22M
Depreciation & Amortization	$13M
Stock-Based Compensation	$365.0K
Deferred Income Tax	$2M
Other Non-Cash Items	$320.0K
Change in Working Capital	-$38M
OPERATING CASH FLOW	$34.0K
Capital Expenditure	-$20M
Acquisitions (Net)	-$48M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$124.0K
NET CASH FROM INVESTING	-$68M
Net Debt Issuance	$141M
Common Stock Repurchased	-$302.0K
Common Dividends Paid	-$101M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	$33M
FREE CASH FLOW	-$20M
Net Change in Cash	-$35M

Balance Sheet

Item	Amount
Cash & Equivalents	$1M
Short-Term Investments	$0
Net Receivables	$4M
Inventory	$161M
Other Current Assets	$2M
TOTAL CURRENT ASSETS	$176M
PP&E (Net)	$31M
Goodwill	$0
Intangible Assets	$8M
Long-Term Investments	$0
Tax Assets	$6M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$48M
TOTAL ASSETS	$224M
Account Payables	$28M
Short-Term Debt	$31M
Deferred Revenue	$9M
Other Current Liabilities	$3M
TOTAL CURRENT LIABILITIES	$93M
Long-Term Debt	$229M
Deferred Revenue NC	$23M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$252M
TOTAL LIABILITIES	$345M
Common Stock	$330.0K
Additional Paid-In Capital	$365.0K
Retained Earnings	-$122M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	-$121M
Minority Interest	$0
TOTAL EQUITY	-$121M
TOTAL LIABILITIES & EQUITY	$224M
Total Debt	$260M
Net Debt	$259M