10-Q Filing

HHGREGG, INC. CIK: 1396279 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0001193125-11-209197`
Period End Date	20110630
Filing Date	20110804
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	hgg-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 34 Cash Flow Statement 71 Stockholders Equity 10

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable-trade, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$96.00K	USD	Point-in-time
Accounts receivable-trade, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$134.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$157.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$70.39M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivable-trade, less allowances of $96 and $134, respectively	`AccountsReceivableNetCurrent`	$8.93M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable-trade, less allowances of $96 and $134, respectively	`AccountsReceivableNetCurrent`	$13.15M	USD	Point-in-time
Accounts receivable-other	`OtherReceivables`	$19.81M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable-other	`OtherReceivables`	$23.28M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Merchandise inventories, net	`InventoryNet`	$212.01M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Merchandise inventories, net	`InventoryNet`	$291.60M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.63M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.06M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$6.46M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.72M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.75M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	38.24M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.72M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$6.49M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$5.61M	USD	Point-in-time
Common stock held in treasury at cost, shares	`TreasuryStockShares`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$330.21M	USD	Point-in-time
Common stock held in treasury at cost, shares	`TreasuryStockShares`	1.51M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$348.51M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$180.90M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$162.78M	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNoncurrentNet`	$3.15M	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNoncurrentNet`	$3.23M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$52.38M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$46.33M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.04M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.16M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$219.44M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$231.54M	USD	Point-in-time
Total assets	`Assets`	$580.05M	USD	Point-in-time
Total assets	`Assets`	$549.64M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$94.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$131.81M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$5.85M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$21.79M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$27.97M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$43.37M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$49.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$165.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$209.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$75.52M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$67.71M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$75.52M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$67.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$284.52M	USD	Point-in-time
Total liabilities	`Liabilities`	$233.06M	USD	Point-in-time
Preferred stock, par value $.0001; 10,000,000 shares authorized; no shares issued and outstanding as of June 30, 2011 and March 31, 2011, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.0001; 10,000,000 shares authorized; no shares issued and outstanding as of June 30, 2011 and March 31, 2011, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $.0001; 150,000,000 shares authorized; 39,749,739 and 39,724,737 shares issued; and 38,241,499 and 39,724,737 outstanding as of June 30, 2011 and March 31, 2011, respectively	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock, par value $.0001; 150,000,000 shares authorized; 39,749,739 and 39,724,737 shares issued; and 38,241,499 and 39,724,737 outstanding as of June 30, 2011 and March 31, 2011, respectively	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$270.53M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$268.71M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$47.91M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$47.15M	USD	Point-in-time
Common stock held in treasury at cost, 1,508,240 and 0 shares as of June 30, 2011 and March 31, 2011, respectively	`TreasuryStockValue`	$22.11M	USD	Point-in-time
Stockholders' Equity Subtotal, Total	`StockholdersEquitySubtotal`	$295.57M	USD	Point-in-time
Stockholders' Equity Subtotal, Total	`StockholdersEquitySubtotal`	$316.63M	USD	Point-in-time
Note receivable for common stock	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$41.00K	USD	Point-in-time
Note receivable for common stock	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$41.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$316.59M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$295.53M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$580.05M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$549.64M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$431.45M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$435.98M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$303.59M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$301.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$130.31M	USD	1 Quarter
Gross profit	`GrossProfit`	$132.39M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$100.85M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$103.24M	USD	1 Quarter
Net advertising expense	`AdvertisingExpense`	$20.20M	USD	1 Quarter
Net advertising expense	`AdvertisingExpense`	$19.96M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$5.88M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$7.29M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-412.00K	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$5.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.21M	USD	1 Quarter
Interest expense	`InterestExpense`	$512.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$5.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-508.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-1.21M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.50M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-920.00K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$1.77M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-159.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-761.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.72M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Weighted average shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	38.85M	shares	1 Quarter
Weighted average shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	39.50M	shares	1 Quarter
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.50M	shares	1 Quarter
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.35M	shares	1 Quarter

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-761.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.72M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.88M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.29M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$301.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$166.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.22M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.62M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$13.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$13.09M	USD	1 Quarter
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$64.00K	USD	1 Quarter
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$103.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.18M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.36M	USD	1 Quarter
Tenant allowances received from landlords	`TenantInducementsFromLandlord`	$6.12M	USD	1 Quarter
Tenant allowances received from landlords	`TenantInducementsFromLandlord`	$4.51M	USD	1 Quarter
Accounts receivable-trade	`IncreaseDecreaseInAccountsReceivable`	$4.22M	USD	1 Quarter
Accounts receivable-trade	`IncreaseDecreaseInAccountsReceivable`	$2.04M	USD	1 Quarter
Accounts receivable-other	`IncreaseDecreaseInOtherReceivables`	$2.66M	USD	1 Quarter
Accounts receivable-other	`IncreaseDecreaseInOtherReceivables`	$3.47M	USD	1 Quarter
Merchandise inventories	`IncreaseDecreaseInInventories`	$78.12M	USD	1 Quarter
Merchandise inventories	`IncreaseDecreaseInInventories`	$79.59M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-1.68M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$6.46M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-5.31M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.13M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$30.23M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.33M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$2.96M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$6.18M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-4.11M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-5.85M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$1.20M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$1.75M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-74.56M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-36.59M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.39M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.99M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$39.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.99M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.36M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$22.11M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$221.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.38M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$13.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$13.09M	USD	1 Quarter
Net increase (decrease) in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$10.81M	USD	1 Quarter
Net increase (decrease) in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$-5.82M	USD	1 Quarter
Net borrowings on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$5.85M	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$227.00K	USD	1 Quarter
Payment of financing costs	`PaymentsOfFinancingCosts`	$88.00K	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$43.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.31M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.46M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-87.45M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-70.88M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$72.79M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$157.84M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$70.39M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$72.79M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$157.84M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$70.39M	USD	Point-in-time
Interest paid	`InterestPaid`	$21.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$905.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$3.04M	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$1.10M	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$4.72M	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$2.99M	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$316.59M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$295.53M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-761.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$2.72M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$221.00K	USD	1 Quarter
Tax benefit deficiencies from stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$-25.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.62M	USD	1 Quarter
Repurchase of common stock	`StockRepurchasedDuringPeriodValue`	$22.11M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$316.59M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$295.53M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.