Company Quick10K Filing
Cato
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 24 $404
10-Q 2019-11-26 Quarter: 2019-11-02
10-Q 2019-08-30 Quarter: 2019-08-03
10-Q 2019-05-30 Quarter: 2019-05-04
10-K 2019-03-27 Annual: 2019-02-02
10-Q 2018-11-30 Quarter: 2018-11-03
10-Q 2018-08-30 Quarter: 2018-08-04
10-Q 2018-05-31 Quarter: 2018-05-05
10-K 2018-03-27 Annual: 2018-02-03
10-Q 2017-11-21 Quarter: 2017-10-28
10-Q 2017-08-25 Quarter: 2017-07-29
10-Q 2017-05-24 Quarter: 2017-04-29
10-K 2017-03-23 Annual: 2017-01-28
10-Q 2016-11-22 Quarter: 2016-10-29
10-Q 2016-08-26 Quarter: 2016-07-30
10-Q 2016-06-03 Quarter: 2016-04-30
10-K 2016-03-24 Annual: 2016-01-30
10-Q 2015-11-24 Quarter: 2015-10-31
10-Q 2015-08-28 Quarter: 2015-08-01
10-Q 2015-05-28 Quarter: 2015-05-02
10-K 2015-03-30 Annual: 2015-01-31
10-Q 2014-12-02 Quarter: 2014-11-01
10-Q 2014-08-29 Quarter: 2014-08-02
10-Q 2014-06-03 Quarter: 2014-05-03
10-K 2014-04-02 Annual: 2014-02-01
10-Q 2013-08-30 Quarter: 2013-08-03
10-Q 2013-05-31 Quarter: 2013-05-04
10-K 2013-04-02 Annual: 2013-02-02
10-Q 2012-12-05 Quarter: 2012-10-27
10-Q 2012-09-05 Quarter: 2012-07-28
10-Q 2012-06-06 Quarter: 2012-04-28
10-K 2012-03-27 Annual: 2012-03-27
10-Q 2011-12-07 Quarter: 2011-10-29
10-Q 2011-09-08 Quarter: 2011-09-07
10-Q 2011-06-08 Quarter: 2011-06-08
10-K 2011-03-30 Annual: 2011-03-29
10-Q 2010-12-08 Quarter: 2010-12-08
10-Q 2010-09-08 Quarter: 2010-09-08
10-Q 2010-06-09 Quarter: 2010-06-09
10-K 2010-03-30 Annual: 2010-01-30
8-K 2019-11-22 Earnings, Exhibits
8-K 2019-08-03 Earnings, Exhibits
8-K 2019-05-04 Earnings, Exhibits
8-K 2019-02-02 Shareholder Vote
8-K 2019-02-02 Earnings, Exhibits
8-K 2018-11-03 Earnings, Exhibits
8-K 2018-08-04 Earnings, Exhibits
8-K 2018-05-05 Earnings, Exhibits
8-K 2018-03-03 Officers, Exhibits
8-K 2018-02-03 Shareholder Vote
8-K 2018-02-03 Earnings, Exhibits
CATO 2019-11-02
Part I Financial Information
Item 1. Financial Statements
Note 1 - General:
Note 2 - Earnings per Share:
Note 3 - Accumulated Other Comprehensive Income:
Note 4 - Financing Arrangements:
Note 5 - Reportable Segment Information:
Note 6 - Stock-Based Compensation:
Note 7 - Fair Value Measurements:
Note 8 - Recent Accounting Pronouncements:
Note 9 - Income Taxes:
Note 10 - Commitments and Contingencies:
Note 11 - Revenue Recognition:
Note 12 - Leases:
Item 3. Quantitative and Qualitative Disclosures About Market Risk:
Item 4. Controls and Procedures:
Part II Other Information
Item 1. Legal Proceedings:
Item 1A. Risk Factors:
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds:
Item 3. Defaults Upon Senior Securities:
Part II Other Information
Item 4. Mine Safety Disclosures:
Item 5. Other Information:
Item 6. Exhibits:
Part II Other Information
EX-31 exhibit311.htm
EX-31 exhibit312.htm
EX-32 exhibit321.htm
EX-32 exhibit322.htm

Cato Earnings 2019-11-02

CATO 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Comparables ($MM TTM)
Ticker M Cap Assets Liab Rev G Profit Net Inc EBITDA EV G Margin EV/EBITDA ROA
CHS 497 1,626 1,077 2,051 699 -10 86 447 34% 5.2 -1%
SCVL 481 693 390 1,026 305 39 74 443 30% 6.0 6%
LE 456 1,110 797 1,405 595 10 65 759 42% 11.7 1%
CATO 404 657 323 863 346 51 72 376 40% 5.2 8%
DLTH 322 434 281 593 318 12 40 344 54% 8.6 3%
TLYS 286 540 366 609 183 24 56 224 30% 4.0 4%
TLRD 258 2,675 2,670 3,169 1,318 62 276 1,393 42% 5.0 2%
CTRN 215 448 260 764 0 15 38 188 0% 5.0 3%
EXPR 184 2,053 1,494 2,067 580 -13 81 30 28% 0.4 -1%
VNCE 175 325 257 288 140 1 15 227 49% 15.5 0%

34

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Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

[X]

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended November 2, 2019

OR

 

[ ]

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________________to__________________

Commission file number                1-31340

 

THE CATO CORPORATION

(Exact name of registrant as specified in its charter)

 

Delaware

56-0484485

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

 

8100 Denmark Road, Charlotte, North Carolina28273-5975

(Address of principal executive offices)

(Zip Code)

 

(704)554-8510

(Registrant's telephone number, including area code)

 

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A - Common Stock, par value $.033 per share

CATO

New York Stock Exchange

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes

X

No

 

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes

X

No

 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer Accelerated filer Non-accelerated filer Smaller reporting company Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes

 

No

X

 

As of November 2, 2019, there were 22,873,215 shares of Class A common stock and 1,763,652 shares of Class B common stock outstanding.

 


 

THE CATO CORPORATION

 

FORM 10-Q

 

Quarter Ended November 2, 2019

Table of Contents

 

Page No.

 

PART I – FINANCIAL INFORMATION (UNAUDITED)

 

 

 

 

 

Item 1.

Financial Statements (Unaudited):

 

 

 

 

Condensed Consolidated Statements of Income and Comprehensive Income

3

 

 

For the Three Months and Nine Months Ended November 2, 2019 and November 3, 2018

 

 

 

 

 

 

Condensed Consolidated Balance Sheets

4

 

 

At November 2, 2019 and February 2, 2019

 

 

 

 

 

 

Condensed Consolidated Statements of Cash Flows

5

 

 

For the Nine Months Ended November 2, 2019 and November 3, 2018

 

 

 

 

 

 

Condensed Consolidated Statements of Stockholders’ Equity

6 - 7

 

 

For the Nine Months Ended November 2, 2019 and November 3, 2018

 

 

 

 

 

 

Notes to Condensed Consolidated Financial Statements

8 – 23

 

 

For the Three Months and Nine Months Ended November 2, 2019 and November 3, 2018

 

 

 

 

 

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

24 – 30

 

 

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

31

 

 

 

 

Item 4.

Controls and Procedures

31

 

 

 

 

PART II – OTHER INFORMATION

 

 

 

 

 

 

Item 1.

Legal Proceedings

32

 

 

 

 

 

Item 1A.

Risk Factors

32

 

 

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

32

 

 

 

 

 

Item 3.

Defaults Upon Senior Securities

32

 

 

 

 

 

Item 4.

Mine Safety Disclosures

33

 

 

 

 

 

Item 5.

Other Information

33

 

 

 

 

 

Item 6.

Exhibits

33

 

 

 

 

 

Signatures

34

 

2


 

Table of Contents

 

PART I FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

 

THE CATO CORPORATION

 

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND

COMPREHENSIVE INCOME

(UNAUDITED)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

November 2, 2019

 

November 3, 2018

 

November 2, 2019

 

November 3, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands, except per share data)

REVENUES

 

 

 

 

 

 

 

 

 

 

 

Retail sales

$

189,357

 

$

187,892

 

$

627,780

 

$

630,765

Other revenue (principally finance charges, late fees and

 

 

 

 

 

 

 

 

 

 

 

layaway charges)

 

2,166

 

 

2,120

 

 

6,676

 

 

6,464

Total revenues

 

191,523

 

 

190,012

 

 

634,456

 

 

637,229

 

 

 

 

 

 

 

 

 

 

 

 

COSTS AND EXPENSES, NET

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold (exclusive of depreciation shown below)

 

118,624

 

 

123,014

 

 

385,079

 

 

395,102

Selling, general and administrative (exclusive of depreciation

 

 

 

 

 

 

 

 

 

 

 

shown below)

 

64,681

 

 

61,765

 

 

196,737

 

 

196,616

Depreciation

 

3,844

 

 

4,094

 

 

11,523

 

 

12,470

Interest and other income

 

(1,662)

 

 

(1,374)

 

 

(4,491)

 

 

(3,559)

Cost and expenses, net

 

185,487

 

 

187,499

 

 

588,848

 

 

600,629

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

6,036

 

 

2,513

 

 

45,608

 

 

36,600

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

51

 

 

(1,287)

 

 

6,501

 

 

2,907

 

 

 

 

 

 

 

 

 

 

 

 

Net income

$

5,985

 

$

3,800

 

$

39,107

 

$

33,693

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

$

0.24

 

$

0.16

 

$

1.59

 

$

1.36

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

$

0.24

 

$

0.16

 

$

1.59

 

$

1.36

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

Net income

$

5,985

 

$

3,800

 

$

39,107

 

$

33,693

Unrealized gain (loss) on available-for-sale securities, net of

 

 

 

 

 

 

 

 

 

 

 

deferred income taxes of ($8) and $380 for the three and

 

 

 

 

 

 

 

 

 

 

 

nine months ended November 2, 2019 and ($117) and ($141) for

 

 

 

 

 

 

 

 

 

 

 

the three and nine months ended November 3, 2018, respectively

 

(25)

 

 

(373)

 

 

1,246

 

 

(451)

Comprehensive income

$

5,960

 

$

3,427

 

$

40,353

 

$

33,242

 

 

 

 

 

 

 

 

 

 

 

 

 

See notes to condensed consolidated financial statements (unaudited).

3


 

Table of Contents

THE CATO CORPORATION

 

CONDENSED CONSOLIDATED BALANCE SHEETS

 

(UNAUDITED)

 

 

 

 

 

 

 

 

 

 

 

 

 

November 2, 2019

 

February 2, 2019

 

 

 

 

 

 

ASSETS

(Dollars in thousands)

Current Assets:

 

 

 

 

 

Cash and cash equivalents

$

21,222

 

$

24,603

Short-term investments

 

203,309

 

 

182,711

Restricted cash

 

2,149

 

 

606

Restricted short-term investments

 

1,731

 

 

3,196

Accounts receivable, net of allowance for doubtful accounts of

 

 

 

 

 

$900 and $842 at November 2, 2019 and February 2, 2019, respectively

 

27,479

 

 

28,137

Merchandise inventories

 

114,049

 

 

119,585

Prepaid expenses and other current assets

 

4,301

 

 

11,750

Total Current Assets

 

374,240

 

 

370,588

Property and equipment – net

 

88,384

 

 

94,304

Noncurrent deferred income taxes

 

10,829

 

 

11,209

Other assets

 

23,475

 

 

21,805

Right-of-Use assets – net

 

154,235

 

 

-

Total Assets

$

651,163

 

$

497,906

LIABILITIES AND STOCKHOLDERS' EQUITY

 

 

 

 

 

Current Liabilities:

 

 

 

 

 

Accounts payable

$

69,094

 

$

84,282

Accrued expenses

 

47,488

 

 

45,658

Accrued bonus and benefits

 

15,079

 

 

11,146

Accrued income taxes

 

1,568

 

 

-

Current lease liability

 

53,536

 

 

-

Total Current Liabilities

 

186,765

 

 

141,086

Other noncurrent liabilities

 

21,741

 

 

39,984

Lease liability

 

110,948

 

 

-

 

 

 

 

 

 

Stockholders' Equity:

 

 

 

 

 

Preferred stock, $100 par value per share, 100,000 shares

 

 

 

 

 

authorized, none issued

 

-

 

 

-

Class A common stock, $0.033 par value per share, 50,000,000

 

 

 

 

 

shares authorized; issued 22,873,215 shares and 22,838,149 shares

 

 

 

 

 

at November 2, 2019 and February 2, 2019, respectively

 

768

 

 

767

Convertible Class B common stock, $0.033 par value per share,

 

 

 

 

 

15,000,000 shares authorized; issued 1,763,652 shares and 1,763,652 shares

 

 

 

 

 

at November 2, 2019 and February 2, 2019, respectively

 

59

 

 

59

Additional paid-in capital

 

109,543

 

 

105,580

Retained earnings

 

220,170

 

 

210,507

Accumulated other comprehensive income/(loss)

 

1,169

 

 

(77)

Total Stockholders' Equity

 

331,709

 

 

316,836

Total Liabilities and Stockholders' Equity

$

651,163

 

$

497,906

 

See notes to condensed consolidated financial statements (unaudited).

4


 

Table of Contents

THE CATO CORPORATION

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

 

 

Nine Months Ended

 

 

November 2, 2019

 

November 3, 2018

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

Operating Activities:

 

 

 

 

 

 

Net income

$

39,107

 

$

33,693

 

Adjustments to reconcile net income to net cash provided

 

 

 

 

 

 

by operating activities:

 

 

 

 

 

 

Depreciation

 

11,523

 

 

12,470

 

Provision for doubtful accounts

 

539

 

 

301

 

Purchase premium and premium amortization of investments

 

(380)

 

 

420

 

Share-based compensation

 

3,450

 

 

3,697

 

Deferred income taxes

 

-

 

 

1,556

 

Loss on disposal of property and equipment

 

555

 

 

530

 

Changes in operating assets and liabilities which provided

 

 

 

 

 

 

(used) cash:

 

 

 

 

 

 

Accounts receivable

 

119

 

 

(9,288)

 

Merchandise inventories

 

5,536

 

 

8,489

 

Prepaid and other assets

 

37,447

 

 

11,115

 

Accrued income taxes

 

1,568

 

 

99

 

Accounts payable, accrued expenses and other liabilities

 

(50,158)

 

 

(8,855)

 

Net cash provided by operating activities

 

49,306

 

 

54,227

 

 

 

 

 

 

 

 

Investing Activities:

 

 

 

 

 

 

Expenditures for property and equipment

 

(4,946)

 

 

(3,224)

 

Purchase of short-term investments

 

(177,807)

 

 

(122,819)

 

Sales of short-term investments

 

160,858

 

 

58,113

 

Purchase of other assets

 

(332)

 

 

(143)

 

Sales of other assets

 

13

 

 

4

 

Net cash (used)/provided in investing activities

 

(22,214)

 

 

(68,069)

 

 

 

 

 

 

 

 

Financing Activities:

 

 

 

 

 

 

Dividends paid

 

(24,461)

 

 

(24,455)

 

Repurchase of common stock

 

(5,032)

 

 

(13,344)

 

Proceeds from employee stock purchase plan

 

563

 

 

518

 

Proceeds from stock options exercised

 

-

 

 

189

 

Net cash (used) in financing activities

 

(28,930)

 

 

(37,092)

 

 

 

 

 

 

 

 

Net increase/(decrease) in cash, cash equivalents, and restricted cash

 

(1,838)

 

 

(50,934)

 

 

 

 

 

 

 

 

Cash, cash equivalents, and restricted cash at beginning of period

 

25,209

 

 

81,264

 

Cash, cash equivalents, and restricted cash at end of period

$

23,371

 

$

30,330

 

 

 

 

 

 

 

 

Non-cash activity:

 

 

 

 

 

 

Accrued other assets and property and equipment

$

1,538

 

$

360

 

 

See notes to condensed consolidated financial statements (unaudited).

5


 

Table of Contents

THE CATO CORPORATION

 

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(UNAUDITED)

 

 

 

 

Convertible

 

 

 

 

Accumulated

 

 

 

Class A

Class B

Additional

 

 

Other

Total

 

Common

Common

Paid-in

Retained

Comprehensive

Stockholders'

 

Stock

Stock

Capital

Earnings

Income

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance — February 2, 2019

$

767

$

59

$

105,580

$

210,507

$

(77)

$

316,836

Comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

-

 

-

 

-

 

21,256

 

-

 

21,256

Unrealized gain (loss) on available-for-sale securities, net of

 

 

 

 

 

 

 

 

 

 

 

 

deferred income tax liability of $126

 

-

 

-

 

-

 

-

 

412

 

412

Dividends paid ($0.33 per share)

 

-

 

-

 

-

 

(8,118)

 

-

 

(8,118)

Class A common stock sold through employee stock purchase

 

 

 

 

 

 

 

 

 

 

 

 

plan — 20,676 shares

 

1

 

-

 

307

 

-

 

-

 

308

Class B common stock sold through stock option plans —

 

 

 

 

 

 

 

 

 

 

 

 

- shares

 

-

 

-

 

-

 

-

 

-

 

-

Class A common stock issued through restricted stock grant plans —

 

 

 

 

 

 

 

 

 

 

 

 

355,609 shares

 

11

 

-

 

624

 

10

 

-

 

645

Repurchase and retirement of treasury shares – 208,041 shares

 

(7)

 

-

 

-

 

(2,827)

 

-

 

(2,834)

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance — May 4, 2019

$

772

$

59

$

106,511

$

220,828

$

335

$

328,505

Comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

-

 

-

 

-

 

11,866

 

-

 

11,866

Unrealized gain (loss) on available-for-sale securities, net of

 

 

 

 

 

 

 

 

 

 

 

 

deferred income tax liability of $262

 

-

 

-

 

-

 

-

 

859

 

859

Dividends paid ($0.33 per share)

 

-

 

-

 

-

 

(8,173)

 

-

 

(8,173)

Class A common stock sold through employee stock purchase

 

 

 

 

 

 

 

 

 

 

 

 

plan — 5,402 shares

 

-

 

-

 

67

 

-

 

-

 

67

Class B common stock sold through stock option plans —

 

 

 

 

 

 

 

 

 

 

 

 

- shares

 

-

 

-

 

-

 

-

 

-

 

-

Class A common stock issued through restricted stock grant plans —

 

 

 

 

 

 

 

 

 

 

 

 

(9,170) shares

 

-

 

-

 

1,479

 

15

 

-

 

1,494

Repurchase and retirement of treasury shares – -shares

 

-

 

-

 

-

 

-

 

-

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance — August 3, 2019

$

772

$

59

$

108,057

$

224,536

$

1,194

$

334,618

Comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

-

 

-

 

-

 

5,985

 

-

 

5,985

Unrealized gain (loss) on available-for-sale securities, net of

 

 

 

 

 

 

 

 

 

 

 

 

deferred income tax liability of $8

 

-

 

-

 

-

 

-

 

(25)

 

(25)

Dividends paid ($0.33 per share)

 

-

 

-

 

-

 

(8,170)

 

-

 

(8,170)

Class A common stock sold through employee stock purchase

 

 

 

 

 

 

 

 

 

 

 

 

plan — 18,252 shares

 

-

 

-

 

287

 

-

 

-

 

287

Class B common stock sold through stock option plans —

 

 

 

 

 

 

 

 

 

 

 

 

- shares

 

-

 

-

 

-

 

-

 

-

 

-

Class A common stock issued through restricted stock grant plans —

 

 

 

 

 

 

 

 

 

 

 

 

(18,327) shares

 

-

 

-

 

1,199

 

13

 

-

 

1,212

Repurchase and retirement of treasury shares – 129,339 shares

 

(4)

 

-

 

-

 

(2,194)

 

-

 

(2,198)

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance — November 2, 2019

$

768

$

59

$

109,543

$

220,170

$

1,169

$

331,709

 

See notes to condensed consolidated financial statements (unaudited).

6


 

Table of Contents

THE CATO CORPORATION

 

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(UNAUDITED)

 

 

 

Convertible

 

 

 

 

Accumulated

 

 

 

Class A

Class B

Additional

 

 

Other

Total

 

Common

Common

Paid-in

Retained

Comprehensive

Stockholders'

 

Stock

Stock

Capital

Earnings

Income

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance — February 3, 2018

$

774

$

58

$

99,948

$

225,894

$

(321)

$

326,353

Comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

-

 

-

 

-

 

23,410

 

-

 

23,410

Unrealized gain (loss) on available-for-sale securities, net of

 

 

 

 

 

 

 

 

 

 

 

 

deferred income tax benefit of ($122)

 

-

 

-

 

-

 

-

 

(392)

 

(392)

Dividends paid ($0.33 per share)

 

-

 

-

 

-

 

(8,186)

 

-

 

(8,186)

Class A common stock sold through employee stock purchase

 

 

 

 

 

 

 

 

 

 

 

 

plan — 19,763 shares

 

-

 

-

 

267

 

-

 

-

 

267

Class B common stock sold through stock option plans —

 

 

 

 

 

 

 

 

 

 

 

 

- shares

 

-

 

-

 

-

 

-

 

-

 

-

Class A common stock issued through restricted stock grant plans —

 

 

 

 

 

 

 

 

 

 

 

 

342,341 shares

 

11

 

-

 

534

 

8

 

-

 

553

Repurchase and retirement of treasury shares – 52,904 shares

 

(2)

 

-

 

-

 

(758)

 

-

 

(760)

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance — May 5, 2018

$

783

$

58

$

100,749

$

240,368

$

(713)

$

341,245

Comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

-

 

-

 

-

 

6,483

 

-

 

6,483

Unrealized gain (loss) on available-for-sale securities, net of

 

 

 

 

 

 

 

 

 

 

 

 

deferred income tax liability of $98

 

-

 

-

 

-

 

-

 

314

 

314

Dividends paid ($0.33 per share)

 

-

 

-

 

-

 

(8,152)

 

-

 

(8,152)

Class A common stock sold through employee stock purchase

 

 

 

 

 

 

 

 

 

 

 

 

plan — 2,791 shares

 

1

 

-

 

70

 

-

 

-

 

71

Class B common stock sold through stock option plans —

 

 

 

 

 

 

 

 

 

 

 

 

8,051 shares

 

-

 

-

 

190

 

-

 

-

 

190

Class A common stock issued through restricted stock grant plans —

 

 

 

 

 

 

 

 

 

 

 

 

13,224 shares

 

-

 

-

 

1,797

 

18

 

-

 

1,815

Repurchase and retirement of treasury shares – 423,200 shares

 

(14)

 

-

 

-

 

(10,635)

 

-

 

(10,649)

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance — August 4, 2018

$

770

$

58

$

102,806

$

228,082

$

(399)

$

331,317

Comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

-

 

-

 

-

 

3,800

 

-

 

3,800

Unrealized gain (loss) on available-for-sale securities, net of

 

 

 

 

 

 

 

 

 

 

 

 

deferred income tax liability of $117

 

-

 

-

 

-

 

-

 

(373)

 

(373)

Dividends paid ($0.33 per share)

 

-

 

-

 

-

 

(8,117)

 

-

 

(8,117)

Class A common stock sold through employee stock purchase

 

 

 

 

 

 

 

 

 

 

 

 

plan — 17,923 shares

 

-

 

-

 

275