Nutrisystem 2008 Annual Report Download - page 44

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NUTRISYSTEM, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)
December 31,
2008 2007
ASSETS
CURRENT ASSETS:
Cash and cash equivalents ............................................... $ 38,309 $ 40,679
Marketable securities .................................................. — 1,769
Receivables .......................................................... 17,200 19,100
Inventories ........................................................... 50,986 82,491
Prepaid income taxes ................................................... 3,714 —
Deferred income taxes .................................................. 1,651 3,260
Other current assets .................................................... 8,611 11,585
Current assets of discontinued operation ................................... 325 517
Total current assets ................................................ 120,796 159,401
FIXED ASSETS, net ....................................................... 24,312 21,872
EQUITY INVESTMENT ................................................... 4,000 13,458
GOODWILL ............................................................. 2,717 —
IDENTIFIABLE INTANGIBLE ASSETS, net .................................. 2,590 —
OTHER ASSETS ......................................................... 5,056 3,829
$159,471 $198,560
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable ..................................................... $ 31,448 $ 46,064
Accrued payroll and related benefits ....................................... 2,150 1,907
Deferred revenue ...................................................... 4,964 —
Income taxes payable .................................................. — 2,482
Other accrued expenses and current liabilities ............................... 3,743 5,535
Current liabilities of discontinued operation ................................. 43 64
Total current liabilities ............................................. 42,348 56,052
NON-CURRENT LIABILITIES ............................................. 1,298 1,006
Total liabilities ................................................... 43,646 57,058
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 –
30,784,920 at December 31, 2008 and 33,955,859 at December 31, 2007) ....... 29 33
Additional paid-in capital ............................................... — —
Retained earnings ..................................................... 115,771 141,454
Accumulated other comprehensive income ................................. 25 15
Total stockholders’ equity ........................................... 115,825 141,502
$159,471 $198,560
The accompanying notes are an integral part of these consolidated financial statements.
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