Nutrisystem 2011 Annual Report Download - page 48

Download and view the complete annual report

Please find page 48 of the 2011 Nutrisystem annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 80

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80

NUTRISYSTEM, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share amounts)
December 31,
2011 2010
ASSETS
CURRENT ASSETS:
Cash and cash equivalents ............................................... $ 47,594 $ 20,376
Marketable securities .................................................. 10,013 20,843
Receivables .......................................................... 11,198 9,256
Inventories, net ....................................................... 31,514 28,747
Prepaid income taxes ................................................... 3,350 5,513
Deferred income taxes .................................................. 1,584 1,854
Supplier advances ..................................................... 2,637 15,240
Other current assets .................................................... 9,011 11,855
Total current assets ................................................ 116,901 113,684
FIXED ASSETS, net ....................................................... 29,771 34,324
OTHER ASSETS ......................................................... 3,682 1,945
$150,354 $149,953
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable ..................................................... $ 32,581 $ 26,435
Accrued payroll and related benefits ....................................... 679 4,874
Deferred revenue ...................................................... 2,916 4,488
Other accrued expenses and current liabilities ............................... 4,486 3,867
Total current liabilities ......................................... 40,662 39,664
BORROWINGS UNDER CREDIT FACILITY .................................. 30,000 30,000
NON-CURRENT LIABILITIES ............................................. 4,734 5,313
Total liabilities ............................................... 75,396 74,977
COMMITMENTS AND CONTINGENCIES (Note 9)
STOCKHOLDERS’ EQUITY:
Preferred stock, $.001 par value (5,000,000 shares authorized, no shares issued and
outstanding) ........................................................ 0 0
Common stock, $.001 par value (100,000,000 shares authorized; shares issued and
outstanding – 28,180,705 at December 31, 2011 and 28,099,812 at December 31,
2010) ............................................................. 28 28
Additional paid-in capital ............................................... 10,091 3,088
Retained earnings ..................................................... 64,931 71,988
Accumulated other comprehensive loss .................................... (92) (128)
Total stockholders’ equity ....................................... 74,958 74,976
$150,354 $149,953
The accompanying notes are an integral part of these consolidated financial statements.
44