Operating ResultsFor the third quarter of 2012, consolidated revenues were $16.9 million, a 2.6% increase compared to $16.5 million for the third quarter in 2011. Comparable store sales in the third quarter of 2012 increased 1.2% compared to the year-ago period. Consolidated gross profit margin was 34.8% for the third quarter of 2012 compared to a gross profit margin of 34.3% for the same period in 2011. Consolidated net loss for the third quarter of 2012 was $2.2 million, or $0.09 per basic and diluted share, compared to consolidated net loss of $2.8 million, or $0.12 per basic and diluted share, for the third quarter in 2011. On a non-GAAP basis, net loss for the third quarter of 2012 before interest, taxes, depreciation and amortization (“ EBITDA net loss”) was $1.8 million compared to EBITDA net loss of $2.4 million for the third quarter in 2011. EBITDA is calculated as net income (loss), as reported under United States generally accepted accounting principles (“ GAAP”), plus net interest expense, depreciation and amortization and income taxes. Adjusted EBITDA net loss, which adjusts the EBITDA net loss for the effect in 2011 of the Tropical Storm Irene flood loss, which was $393,036, was $1.8 million, compared to $2.0 million in the third quarter of 2011. The schedule accompanying this release provides the reconciliation of net loss for the third quarters of 2012 and 2011, and net loss for the nine-month periods then ended, under GAAP to a non-GAAP, EBITDA and Adjusted EBITDA bases.
IParty Corp. Announces Third Quarter 2012 Financial Results
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