TLYS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-09-03

• Based on the improvement in our recent operating results, we currently anticipate our estimated annual effective income tax rate to be in the range of approximately 17% to 21% of pre-tax income while continuing to maintain a full valuation allowance on our deferred tax assets.

• Operating income (loss) equals gross profit less SG&A expenses. Operating income (loss) excludes interest income, interest expense and income taxes. Operating income (loss) percentage measures operating income (loss) as a percentage of our net sales.

• 0.9%$1.5Increase in incentive bonus accrual associated with achieving improved operating performance

• Operating income was $8.2 million, or 5.0% of net sales, compared to $2.7 million, or 1.8% of net sales, last year primarily as a result of the combination of the factors noted above.

• Income tax expense was $0.1 million, or 1.0% of pre-tax income, compared to an income tax benefit of $41 thousand, or (1.3%) of pre-tax income, last year. Both period's income tax results include the continuing impact of a full, non-cash deferred tax asset valuation allowance.

Text removed vs the prior filing · source: 10-Q · 2026-06-04

• We expect our effective income tax rate to be near zero on an annual basis until such time that we are able to return to generating operating profits on a consistent basis due to maintaining a full valuation allowance on all deferred tax assets as a result of our recent operating losses.

• Operating loss equals gross profit less SG&A expenses. Operating loss excludes interest income, interest expense and income

• taxes. Operating loss percentage measures operating loss as a percentage of our net sales.

• Total selling, general and administrative expenses44,170 43,974

• Total selling, general and administrative expenses35.4 %40.9 %