This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

IParty Corp. Announces Third Quarter 2012 Financial Results

iParty Corp. (NYSE MKT: IPT - news), a party goods retailer, today reported financial results for its third quarter of fiscal year 2012, which ended on September 29, 2012.

Third Quarter 2012 Highlights

  • Consolidated revenues of $16.9 million for the third quarter of 2012, a 2.6% increase compared to the third quarter of 2011.
  • Comparable store sales increase of 1.2% for the third quarter of 2012, and 2.9% for the nine month period then ended, as compared to the applicable prior year periods.
  • Net loss of $2.2 million for the third quarter of 2012, compared to net loss of $2.8 million for the third quarter of 2011, which included a loss of $393 thousand related to a flood casualty from Tropical Storm Irene.
  • Adjusted EBITDA net loss for the third quarter of 2012 of $1.8 million, compared to Adjusted EBITDA net loss in the third quarter of 2011 of $2.0 million (See accompanying schedule for reconciliation of non-GAAP Adjusted EBITDA to net loss for the period).
  • The opening of one new full line party store in August and one new full line party store immediately after the close of the third quarter.
  • The opening of 10 temporary Halloween stores in September, bringing the number of iParty storefronts this Halloween season to 64 from 63 last year.

Sal Perisano, iParty’s Chairman and Chief Executive Officer, stated, "Historically our third quarter is a loss quarter as we prepare for the Halloween and holiday seasons. We are however pleased with the trends for the quarter which reflect an overall improvement in our business. Our sales, margins and operating expenses were all well within our expectations and our year to date net loss through the third quarter improved by approximately $1 million compared to last year. With our two new store fronts and what we believe to be a strong group of temporary Halloween stores, we have 64 storefronts open this Halloween, leaving us very well positioned entering into the all important Halloween season and fourth quarter."

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs