EX-99.1 2 misc1.htm MISCELLANEOUS EXHIBITS Unassociated Document

THE WALKING COMPANY HOLDINGS, INC. AND SUBSIDIARIES
(FKA BIG DOG HOLDINGS, INC. AND SUBSIDIARIES)
CONSOLIDATED STATEMENTS OF OPERATIONS


   
YEARS ENDED DECEMBER 31
  
   
2008
    
2007
  
             
NET SALES
   $ 229,930,000 )   $ 206,335,000 )
COST OF GOODS SOLD
     117,455,000 )     98,432,000 )
GROSS PROFIT
     112,475,000 )     107,903,000 )
                 
OPERATING EXPENSES:
                
Selling, marketing and distribution
     107,342,000 )     95,063,000 )
General and administrative
     10,513,000 )     10,799,000 )
Total operating expenses
     117,855,000 )     105,862,000 )
                 
(LOSS) INCOME FROM OPERATIONS
     (5,380,000 )     2,041,000  
                 
INTEREST INCOME
     (2,000 )     (10,000 )
                 
INTEREST EXPENSE (Notes 5 and 6)
     4,157,000       4,255,000  
                 
LOSS BEFORE BENEFIT FROM INCOME TAXES
     (9,535,000 )     (2,204,000 )
                 
BENEFIT FROM INCOME TAXES (Note 7)
     (2,288,000 )     (849,000 )
                 
LOSS FROM CONTINUING OPERATIONS
     (7,247,000 )     (1,355,000 )
                 
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX BENEFIT (Note 8)
     (2,926,000 )     (2,101,000 )
                 
NET LOSS
   $ (10,173,000 )   $ (3,456,000 )
                 
NET LOSS PER SHARE:
                
Continuing operations
     (0.76 )     (0.15 )
Discontinued operations
     (0. 31 )     (0.22 )
BASIC AND DILUTED
   $ (1.07 ))   $ (0.37 ))