Nutrisystem 2009 Annual Report Download - page 46

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NUTRISYSTEM, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)
December 31,
2009 2008
ASSETS
CURRENT ASSETS:
Cash and cash equivalents ............................................... $ 32,198 $ 38,309
Marketable securities .................................................. 30,324 —
Receivables .......................................................... 13,057 17,200
Inventories, net ....................................................... 52,012 50,986
Prepaid income taxes ................................................... 2,420 3,714
Deferred income taxes .................................................. 2,756 1,651
Other current assets .................................................... 10,682 8,611
Current assets of discontinued operation ................................... 166 325
Total current assets ................................................ 143,615 120,796
FIXED ASSETS, net ....................................................... 21,164 24,312
EQUITY INVESTMENT ................................................... — 4,000
GOODWILL ............................................................. — 2,717
IDENTIFIABLE INTANGIBLE ASSETS, net .................................. 250 2,590
OTHER ASSETS ......................................................... 5,758 5,056
$170,787 $159,471
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable ..................................................... $ 32,488 $ 31,448
Accrued payroll and related benefits ....................................... 1,097 2,150
Deferred revenue ...................................................... 3,853 4,964
Other accrued expenses and current liabilities ............................... 2,653 3,743
Current liabilities of discontinued operation ................................. 183 43
Total current liabilities ......................................... 40,274 42,348
NON-CURRENT LIABILITIES ............................................. 1,550 1,298
Total liabilities ............................................... 41,824 43,646
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS’ EQUITY:
Preferred stock, $.001 par value (5,000,000 shares authorized, no shares issued and
outstanding) ........................................................ — —
Common stock, $.001 par value (100,000,000 shares authorized; shares issued –
30,949,784 at December 31, 2009 and 30,784,920 at December 31, 2008) ....... 29 29
Additional paid-in capital ............................................... 6,515 —
Retained earnings ..................................................... 122,503 115,771
Accumulated other comprehensive (loss) income ............................ (84) 25
Total stockholders’ equity ....................................... 128,963 115,825
$170,787 $159,471
The accompanying notes are an integral part of these consolidated financial statements.
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