Nutrisystem 2010 Annual Report Download - page 45

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NUTRISYSTEM, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share amounts)
December 31,
2010 2009
ASSETS
CURRENT ASSETS:
Cash and cash equivalents ............................................... $ 20,376 $ 32,198
Marketable securities .................................................. 20,843 30,324
Receivables .......................................................... 9,256 13,057
Inventories, net ....................................................... 28,747 52,012
Prepaid income taxes ................................................... 5,513 2,420
Deferred income taxes .................................................. 1,854 2,756
Supplier advances ..................................................... 15,240 —
Other current assets .................................................... 11,855 10,682
Current assets of discontinued operation ................................... — 166
Total current assets ................................................ 113,684 143,615
FIXED ASSETS, net ....................................................... 34,324 21,164
IDENTIFIABLE INTANGIBLE ASSETS, net .................................. — 250
OTHER ASSETS ......................................................... 1,945 5,758
$149,953 $170,787
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable ..................................................... $ 26,435 $ 32,488
Accrued payroll and related benefits ....................................... 4,874 1,097
Deferred revenue ...................................................... 4,488 3,853
Other accrued expenses and current liabilities ............................... 3,867 2,653
Current liabilities of discontinued operation ................................. — 183
Total current liabilities ......................................... 39,664 40,274
BORROWINGS UNDER CREDIT FACILITY .................................. 30,000 —
NON-CURRENT LIABILITIES ............................................. 5,313 1,550
Total liabilities ............................................... 74,977 41,824
COMMITMENTS AND CONTINGENCIES (Note 9)
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 –
28,099,812 at December 31, 2010 and 30,949,784 at December 31, 2009) ....... 26 29
Additional paid-in capital ............................................... 3,088 6,515
Retained earnings ..................................................... 71,990 122,503
Accumulated other comprehensive loss .................................... (128) (84)
Total stockholders’ equity ....................................... 74,976 128,963
$149,953 $170,787
The accompanying notes are an integral part of these consolidated financial statements.
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