10-Q Filing

HHGREGG, INC. CIK: 1396279 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-330223`
Period End Date	20120630
Filing Date	20120802
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	hgg-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 34 Cash Flow Statement 73 Stockholders Equity 10

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable-trade, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$25.00K	USD	Point-in-time
Accounts receivable-trade, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$27.00K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	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`	$59.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.29M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Accounts receivable-trade, less allowances of $27 and $25, respectively	`AccountsReceivableNetCurrent`	$28.60M	USD	Point-in-time
Accounts receivable-trade, less allowances of $27 and $25, respectively	`AccountsReceivableNetCurrent`	$19.47M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable-other	`OtherReceivables`	$18.63M	USD	Point-in-time
Accounts receivable-other	`OtherReceivables`	$23.07M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Merchandise inventories, net	`InventoryNet`	$282.41M	USD	Point-in-time
Merchandise inventories, net	`InventoryNet`	$326.89M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.56M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.71M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.56M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$7.74M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.07M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$9.78M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	35.77M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	36.35M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$9.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$394.95M	USD	Point-in-time
Common stock held in treasury at cost, shares	`TreasuryStockShares`	4.79M	shares	Point-in-time
Common stock held in treasury at cost, shares	`TreasuryStockShares`	3.71M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$406.08M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$214.15M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$204.27M	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNoncurrentNet`	$2.49M	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNoncurrentNet`	$2.66M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$38.97M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$38.09M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.93M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.06M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$255.79M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$247.83M	USD	Point-in-time
Total assets	`Assets`	$661.87M	USD	Point-in-time
Total assets	`Assets`	$642.78M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$122.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$144.86M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$28.99M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$36.24M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$43.73M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$46.34M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$4.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$199.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$227.44M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$71.30M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$73.52M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$12.24M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$12.28M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$83.58M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$85.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$313.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$283.26M	USD	Point-in-time
Preferred stock, par value $.0001; 10,000,000 shares authorized; no shares issued and outstanding as of June 30, 2012 and March 31, 2012, 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, 2012 and March 31, 2012, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $.0001; 150,000,000 shares authorized; 40,559,245 and 40,066,005 shares issued; and 35,768,882 and 36,351,716 outstanding as of June 30, 2012 and March 31, 2012, respectively	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock, par value $.0001; 150,000,000 shares authorized; 40,559,245 and 40,066,005 shares issued; and 35,768,882 and 36,351,716 outstanding as of June 30, 2012 and March 31, 2012, respectively	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$283.89M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$277.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$123.58M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$129.28M	USD	Point-in-time
Common stock held in treasury at cost, 4,790,363 and 3,714,289 shares as of June 30, 2012 and March 31, 2012, respectively	`TreasuryStockValue`	$58.77M	USD	Point-in-time
Common stock held in treasury at cost, 4,790,363 and 3,714,289 shares as of June 30, 2012 and March 31, 2012, respectively	`TreasuryStockValue`	$47.57M	USD	Point-in-time
Stockholders' Equity Subtotal, Total	`StockholdersEquitySubtotal`	$348.71M	USD	Point-in-time
Stockholders' Equity Subtotal, Total	`StockholdersEquitySubtotal`	$359.56M	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`	$348.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$359.52M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$642.78M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$661.87M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$489.86M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$431.45M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$301.14M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$343.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$146.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$130.31M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$118.77M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$103.24M	USD	1 Quarter
Net advertising expense	`AdvertisingExpense`	$27.62M	USD	1 Quarter
Net advertising expense	`AdvertisingExpense`	$20.20M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$7.29M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$9.41M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-412.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.14M	USD	1 Quarter
Interest expense	`InterestExpense`	$478.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$512.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-508.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-476.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.62M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-920.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-159.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-3.92M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-761.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.16	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.16	USD	1 Quarter
Weighted average shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	36.14M	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`	36.14M	shares	1 Quarter

Cash Flow Statement 73 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-761.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.41M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$166.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$166.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.62M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.69M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$13.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$546.00K	USD	1 Quarter
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$76.00K	USD	1 Quarter
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$64.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.18M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$741.00K	USD	1 Quarter
Tenant allowances received from landlords	`TenantInducementsFromLandlord`	$1.98M	USD	1 Quarter
Tenant allowances received from landlords	`TenantInducementsFromLandlord`	$6.12M	USD	1 Quarter
Accounts receivable-trade	`IncreaseDecreaseInAccountsReceivable`	$9.14M	USD	1 Quarter
Accounts receivable-trade	`IncreaseDecreaseInAccountsReceivable`	$4.22M	USD	1 Quarter
Accounts receivable-other	`IncreaseDecreaseInOtherReceivables`	$1.40M	USD	1 Quarter
Accounts receivable-other	`IncreaseDecreaseInOtherReceivables`	$2.80M	USD	1 Quarter
Merchandise inventories	`IncreaseDecreaseInInventories`	$79.59M	USD	1 Quarter
Merchandise inventories	`IncreaseDecreaseInInventories`	$44.48M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$8.36M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$12.10M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-5.31M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-730.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.23M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$30.23M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$7.25M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$6.18M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$3.15M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.95M	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-54.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-1.40M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$30.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-273.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-48.86M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-36.59M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.22M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.99M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$17.00K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.20M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.99M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$11.20M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$22.11M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.81M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$221.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$546.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$13.00K	USD	1 Quarter
Net increase in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$10.81M	USD	1 Quarter
Net increase in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$4.82M	USD	1 Quarter
Net borrowings on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$5.85M	USD	1 Quarter
Net borrowings on inventory financing facility	`ProceedsFromRepaymentsOfNetBorrowingsOnInventoryFinancingFacility`	$11.13M	USD	1 Quarter
Payment of financing costs	`PaymentsOfFinancingCosts`	$88.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.11M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.31M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-54.95M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-70.88M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$72.79M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$59.24M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.29M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$72.79M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$59.24M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$4.29M	USD	Point-in-time
Interest paid	`InterestPaid`	$21.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$29.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$3.04M	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$6.89M	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$5.29M	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`	$348.67M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$359.52M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-5.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-761.00K	USD	1 Quarter
Exercise of stock options and vesting of RSUs	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.81M	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.69M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$546.00K	USD	1 Quarter
Repurchase of common stock	`TreasuryStockValueAcquiredCostMethod`	$11.20M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$348.67M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$359.52M	USD	Point-in-time

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