SParikh wrote: This article speaks true to the importance and capitalizing of the cloud. Me having experience dealing with cloud based tech and consulting and integration services, I realize the need for a secure and consistant cloud service. Many people are concerned with the privacy, or lack thereof, that could occur with storing personal documents into a non-physical storage unit. I can see, though with companies such as ours and Metacloud, we are working toward a more secure and easy to use cloud system for both personal and professional use.
Spursh Parikh
www.sererra.com
FORT WORTH, Texas, Nov. 14, 2012 /PRNewswire/ -- Calloway's Nursery, Inc. (PK:CLWY) today reported revenues and operating results for the third quarter ended September 30, 2012.
Results for the Third Quarter
Revenue was $6.3 million for 2012, compared to revenue of $5.9 million for 2011. Same-store revenue (18 stores) was $6.3 million for 2012, compared to same-store revenue of $5.7 million for 2011.
Net loss was $1.1 million for 2012, compared to net loss of $1.1 million for 2011.
Diluted net loss per common share was $.13 for 2012, compared to diluted net loss per common share of $.15 for 2011.
The 2012 period included a $368,000 (net of income tax effect) impairment charge on assets held for sale ($.05 per share).
Results for the Nine Months
Revenue was $36.1 million for 2012, compared to revenue of $37.0 million for 2011. Same-store revenue (18 stores) was $35.2 million for 2012, compared to same-store revenue of $35.8 million for 2011.
Net income was $1.0 million for 2012, compared to net income of $1.2 million for 2011.
Diluted net income per common share was $.13 for 2012, compared to diluted net income per common share of $.16 for 2011.
The 2012 period included a $368,000 (net of income tax effect) impairment charge on assets held for sale ($.05 per share).
Founded in 1986, Calloway's Nursery, Inc. is an 18-store garden center chain serving the Dallas - Fort Worth (as Calloway's Nursery) and Houston (as Cornelius Nursery) markets. The company strives to make gardening fun, easy and successful for customers by offering expert advice from Texas Certified Nursery Professionals; store environments that are educational and easy to shop; weekly gardening clinics that serve both novice and expert gardeners; displays and instructions to aid gardeners with design and color development in their yards; and a product selection of the best plant varieties available.
CALLOWAY'S NURSERY, INC.
CONDENSED CONSOLIDATED INCOME STATEMENTS (UNAUDITED)
(Amounts in thousands, except per share amounts)
Three-Months Ended
Nine-Months Ended
September 30,
September 30,
2012
2011
2012
2011
Net revenue
$6,338
$5,860
$36,104
$37,007
Cost of goods sold
3,477
3,416
18,602
19,260
Gross profit
2,861
2,444
17,502
17,747
Operating expenses
2,666
2,807
10,843
11,256
Advertising expenses
85
115
990
927
Occupancy expenses
821
856
2,521
2,559
Depreciation and amortization
136
148
397
445
Net interest expense
190
200
585
606
Impairment of property held for sale
558
--
558
--
Total expenses
4,456
4,126
15,894
15,793
Income (loss) before provision for income taxes
(1,595)
(1,682)
1,608
1,954
Income tax expense (benefit)
(536)
(533)
594
716
Net income (loss)
($1,059)
($1,149)
$ 1,014
$ 1,238
Weighted average number of common shares outstanding – basic and diluted
8,181
7,886
8,097
7,769
Net income (loss) per common share - basic and diluted
($0.13)
($0.15)
$0.13
$0.16
CALLOWAY'S NURSERY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(Amounts in thousands)
ASSETS
September 30,
September 30,
2012
2011
Cash and cash equivalents
$ 3,602
$ 2,531
Accounts receivable
378
243
Inventories
3,947
3,690
Prepaids and other assets
121
21
Deferred income taxes
87
547
Property held for sale
1,508
--
Total current assets
9,643
7,032
Property and equipment, net
14,635
17,090
Deferred income taxes
247
--
Other assets
214
299
Total assets
$24,739
$24,421
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable and accrued expenses
$5,927
$6,126
Current portion of long-term debt
852
801
Total current liabilities
6,779
6,927
Long-term debt, net of current portion
10,403
11,202
Deferred income taxes
--
51
Deferred rent payable
13
4
Total liabilities
17,195
18,184
Shareholders' equity:
Common stock
85
82
Additional paid-in capital
10,951
10,718
Accumulated deficit
(2,084)
(3,155)
8,952
7,645
Less: Treasury stock, at cost
(1,408)
(1,408)
Total shareholders' equity
7,544
6,237
Total liabilities and shareholders' equity
$24,739
$24,421
CALLOWAY'S NURSERY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(Amounts in thousands)
Nine-Months Ended
September 30,
2012
2011
Cash flows from operating activities:
Net income
$1,014
$1,238
Adjustments to reconcile net income to net cash provided by operating activities:
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In this article, we’ll provide an overview of the Hyper-V enhancements in Windows Server 2012 R2. After you review these new capabilities, I’m sure you’ll see why the R2 release is a MAJOR RELEASE – so MUCH MORE than “just another” Service Pack release!
This month, we’ll be releasing ...
It certainly has been a wild ride thus far for 2013 as we head into the second half. Breaches, hacks, exposures, leaks, along with things like BYOD and SDN should make the next 6 months interesting. From the many headlines in 2012, you’d think organizations would be locked down tight...
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There are only two certainties in life – death and taxes, said Benjamin Franklin. What the theorist and founding father clearly meant was: There are only three certainties in life – death and taxes and information security changeability.
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