Tatyana Designs Posts Results for Nine Months Ended September 30, 2012

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LAS VEGAS, Nov. 27, 2012 (GLOBE NEWSWIRE) -- Tatyana Designs, Inc. (the "Company") (OTC Pink:TATD), a growing retailer specializing in contemporary designs inspired by the iconic Bettie Page, today posted financial results for the nine months ended September 30, 2012. Represents first financial report following reverse capitalization completed in August 2012.

For the nine months ended September 30, 2012:

  • Net sales increased 35% to $7.2 million from the $5.3 million during the comparable nine months of 2011. Nine-month 2012 sales exceeded total sales for the twelve months of 2011.
  • Boutique sales increased 36%.
  • Comparable boutique sales increased 7.5%.
  • The number of Company owned boutiques increased from six to nine. The tenth boutique opened in Boston in October and the first New York City boutique opens this week.
  • Wholesale sales to other boutiques increased 43% to $1.67 million.
  • E-commerce sales increased 15% to $662,000.
  • Gross profit remains steady at 70% of sales.
  • Income from operations was $561,000 – during which Company absorbed startup expenses for four new boutiques.
  • Generated $230,000 in cash from operating activities -- increased inventories by $622,000 to support boutique openings and wholesale and e-commerce growth.
  • Net income was $677,000 or $0.07 per share. Included a deferred tax benefit of $159,000 upon becoming a corporate taxable entity in August 2012.

The Company ended the nine months at September 30, 2012 with $743,000 cash, working capital of $1.2 million and inventory of $1.6 million. The Company financed its growth during the period from operations along with $560,000 of working capital bank financing and $150,000 cash from the reverse capitalization. A total of $600,000 due the Company's majority stockholder for taxes prior to reverse capitalization has been retained to help finance growth.

"We are delivering on our announced growth strategy of expanding our boutique base, managing comparable boutique sales and growing our wholesale and e-commerce divisions," stated Jan Glaser, Co-CEO and Treasurer of Tatyana Designs. "We increased sales and maintained profitability for the nine months, while absorbing new boutique startup expenses, including a $212,000 non-cash increase in deferred rent. The performance of our new boutiques in the East is proving the success of our retro-themed contemporary design business model. We believe there are many prime 'street' or up-scale mall locations for boutique growth and we are focused on delivering against that opportunity while maintaining profitability."

About the Company - Based in Las Vegas, Nevada, Tatyana Designs, Inc. is a growing retailer specializing in contemporary designs inspired by the 50's and the iconic Bettie Page. The merchandise offered through ten boutiques and active e-commerce and wholesale divisions is a diverse mix of high-quality and attractively priced apparel, jewelry, accessories and gifts. Bettie Page collections target the 18-35 year-old, fashion conscious, female customer, but women of all ages are attracted to the unique retro look. New product styles are presented monthly. For more information on the company please visit the Web site at www.tatyanadesigns.com.

Trademark Information: Bettie Page is a trademark registered to Mark A. Roesler, dba Bettie Page LLC (www.BettiePage.com) and licensed for use by the Company. All other trade names are either trademarks or registered trademarks of their respective holders.

The Tatyana Designs, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=15348

Cautionary note on forward-looking statements:

This press release includes forward-looking information and statements. Except for historical information contained in this release, statements in this release may constitute forward-looking statements relating to future transactions, performance and developments that may affect future results and the future viability of the company. Actual results could be affected or differ materially from those projected in the forward-looking statements as a result of risks, uncertainties and other factors identified and discussed in the Company's most recent public corporate documents (www.otcmarkets.com/stock/TATD/filings). These forward-looking statements are based on information and management's expectations as of the date hereof. Future results may differ materially from the Company's current expectations.

Tatyana Designs, Inc. and Affiliates
Condensed Consolidated Balance Sheets
(000's omitted except per share amount)
September 30, December 31,
2012 2011
$ $
Cash 743 359
Inventories 1,686 1,064
Other 422 73
Total current assets 2,851 1,496
Property and equipment, net 490 421
Deferred income taxes 217 --
Deposits 317 126
Licenses and trademarks, net 50 53
Total assets 3,925 2,096
Accounts payable and accruals 809 169
Bank debt 234 --
Due stockholder 600 500
Total current liabilities 1,643 669
Deferred rent 507 295
Bank debt - long term 323 --
Stockhoder debt - long-term 500 --
Total liabilties 2,973 964
Stockholders' equity 952 1,132
Total liabilities and stockholders' equity 3,925 2,096
Tatyana Designs, Inc. and Affiliates
Condensed Consolidated Statements of Operations
(000's omitted except per share amount)
Nine Months Year
Ended Ended
September 30, December 31,
2012 2011
$ $
Net sales 7,248 7,236
Cost of revenues 2,158 2,204
Gross profit 5,090 5,032
Selling, general and administrative 4,529 4,009
Income from operatons 561 1,023
Other expenses 42 64
Income before income tax 519 959
Income tax benefit (159) --
Net income 678 959
Basic and diluted earnings per common share $0.07 $0.10
Weighted average shares outstanding:
Basic shares 10,381 10,000
Diluted shares 10,412 10,000
Pro forma net income data:
Income before income tax expense 519 959
Pro forma adjustments for income tax expense 203 355
Pro forma net income 316 604
Pro forma basic and diluted earnings per common share $0.03 $0.06

CONTACT: Jan Glaser 702.458.1632 Ext 5

Source:Tatyana Designs, Inc.