Nutrisystem 2007 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,
2007 2006
ASSETS
CURRENT ASSETS:
Cash and cash equivalents ............................................... $ 40,679 $ 13,469
Marketable securities .................................................. 1,769 66,809
Receivables .......................................................... 19,100 17,214
Inventories ........................................................... 82,491 72,366
Deferred income taxes .................................................. 3,260 2,743
Other current assets .................................................... 11,585 11,136
Current assets of discontinued operation ................................... 517 2,046
Total current assets ................................................ 159,401 185,783
FIXED ASSETS, net ....................................................... 21,872 9,322
EQUITY INVESTMENT ................................................... 13,458 —
OTHER ASSETS ......................................................... 3,823 1,456
NON-CURRENT ASSETS OF DISCONTINUED OPERATION ................... 6 1,306
$198,560 $197,867
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable ..................................................... $ 46,064 $ 45,285
Accrued payroll and related benefits ....................................... 1,907 1,360
Income taxes payable .................................................. 2,482 —
Other accrued expenses and current liabilities ............................... 5,535 4,809
Current liabilities of discontinued operation ................................. 64 280
Total current liabilities ............................................. 56,052 51,734
NON-CURRENT LIABILITIES ............................................. 1,006 681
NON-CURRENT LIABILITIES OF DISCONTINUED OPERATION ............... — 150
Total liabilities ................................................... 57,058 52,565
COMMITMENTS AND CONTINGENCIES (Note 7)
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 –
33,955,859 at December 31, 2007 and 35,918,506 at December 31, 2006) ....... 33 35
Additional paid-in capital ............................................... — 60,355
Retained earnings ..................................................... 141,454 84,912
Accumulated other comprehensive income ................................. 15 —
Total stockholders’ equity ........................................... 141,502 145,302
$198,560 $197,867
The accompanying notes are an integral part of these consolidated financial statements.
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