Nutrisystem 2015 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 2015 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 76

  • 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

NUTRISYSTEM, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except par value amounts)
December 31,
2015 2014
ASSETS
CURRENT ASSETS:
Cash and cash equivalents ............................................... $ 6,191 $ 12,620
Short term investments ................................................. 9,317 16,627
Receivables .......................................................... 18,385 12,206
Inventories ........................................................... 30,530 26,899
Prepaid income taxes ................................................... 1,149 0
Deferred income taxes .................................................. 1,192 1,051
Other current assets .................................................... 10,118 7,095
Total current assets ................................................ 76,882 76,498
FIXED ASSETS, net ....................................................... 30,849 26,851
INTANGIBLE ASSETS .................................................... 15,084 84
DEFERRED INCOME TAXES .............................................. 6,107 5,461
OTHER ASSETS ......................................................... 971 998
Total assets ...................................................... $129,893 $109,892
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable ..................................................... $ 38,381 $ 34,261
Accrued payroll and related benefits ....................................... 7,556 6,550
Income taxes payable .................................................. 0 301
Deferred revenue ...................................................... 5,618 4,424
Other accrued expenses and current liabilities ............................... 6,126 6,131
Total current liabilities ......................................... 57,681 51,667
NON-CURRENT LIABILITIES ............................................. 2,284 2,710
Total liabilities ............................................... 59,965 54,377
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS’ EQUITY:
Preferred stock, $.001 par value (5,000 shares authorized, no shares issued and
outstanding) ........................................................ 0 0
Common stock, $.001 par value (100,000 shares authorized; shares issued – 29,621
at December 31, 2015 and 28,990 at December 31, 2014) .................... 29 29
Additional paid-in capital ............................................... 41,392 29,992
Treasury stock, at cost, 389 shares at December 31, 2015 and 249 shares at
December 31, 2014 .................................................. (5,672) (3,062)
Retained earnings ..................................................... 34,191 28,552
Accumulated other comprehensive (loss) income ............................ (12) 4
Total stockholders’ equity ....................................... 69,928 55,515
Total liabilities and stockholders’ equity ........................... $129,893 $109,892
The accompanying notes are an integral part of these consolidated financial statements.
39