This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IParty Corp Reports Financial Results For First Quarter 2012

iParty Corp. (NYSE Amex: IPT - news), a leading party goods retailer, today reported financial results for its first quarter of fiscal year 2012, which ended on March 31, 2012.

First Quarter 2012 Highlights
  • Comparable store sales increase for the first quarter of 2012 of 8.6%.
  • Consolidated revenues of $15.8 million for the first quarter of 2012, a 4.4% increase compared to the first quarter of 2011.
  • Reopening of flood damaged store in West Lebanon, New Hampshire.
  • Net loss of $1.2 million for the first quarter of 2012, compared to a net loss of $1.5 million for the first quarter of 2011.

Sal Perisano, iParty’s Chairman and Chief Executive Officer, stated, “The first quarter of 2012 was a strong one for iParty with significantly improved same store sales. Good weather, two regional teams in the Super Bowl, a Saturday St Patrick’s Day and an early Easter contributed to a comparable store sales increase of 8.6%, despite not having the benefit of a sales run up for New Year’s Eve that occurred in the first quarter of 2011. The net result of our strong sales performance this quarter, along with effective expense control, was the improvement of our net loss for the first quarter by approximately $300 thousand compared to last year’s net loss.”

Mr. Perisano further stated, “With regard to our more recent store additions, our Boston stores on Boylston Street and in South Bay and our new store in Manchester, Connecticut are seeing very strong comparative sales. The sales performance of these new stores is exceeding our expectations and we believe that they will deliver an enhanced profit contribution for 2012. Also, we expanded our e-commerce offering in the first quarter beyond Halloween and related merchandise and continue to see improved e-commerce sales. Consistent with our plan and on the strength of our first quarter, we are actively exploring new locations to add to our base this year.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs