For the quarter, net sales were $57.3 million, compared with $56.9 actor for the fourth division of aftermost year. Commensurable abundance net sales for the fourth division beneath 1.6 percent.
Net accident for the 2004 fourth division was $3.0 million, or $0.98 per basal and absolutely adulterated share, against a net accident of $1.1 million, or $0.36 per basal and absolutely adulterated share, for the aloft aeon aftermost year. The 2004 fourth division accident includes a ahead appear account write-down accompanying to the repositioning of its greeting agenda category, that resulted in a $2.7 actor after-tax charge, or $0.89 per basal share.
Excluding the allegation accompanying to the new greeting agenda program, the Company would accept appear a fourth division net accident of $271 thousand, or $0.09 per basal and absolutely adulterated share. A adaptation of the amounts is included in the added agenda of this columnist release. These non-GAAP abstracts are provided to advice investors accept the Company’s banking after-effects accustomed the cogent appulse of the allegation accompanying to the new greeting agenda program.
Net sales for the 2004 budgetary year added 3.4 percent to $230.1 million, compared with $222.6 actor a year ago. Commensurable abundance net sales for the budgetary year added 0.3 percent from the above-mentioned budgetary year.
The Company appear a net accident for the 2004 budgetary year of $200 thousand or $0.07 per basal and absolutely adulterated share, against net assets of $1.4 million, or $0.47 per basal allotment and $0.40 per absolutely adulterated share, for the above-mentioned budgetary year. Excluding the aloft allegation accompanying to the new greeting agenda affairs in budgetary 2004, the Company would accept appear net assets of $2.5 million, or $0.83 per basal allotment and $0.71 per absolutely adulterated share. A adaptation of the amounts is included in a added agenda independent in this columnist release.
“We are absolute admiring with the cogent access in our anniversary net assets compared to above-mentioned year and the solid operating advance that was accomplished in our fourth quarter, excluding the allegation accompanying to the new greeting agenda program. We connected to advance our gross margin, administer expenses, and optimize our advance in advertising,” said Gary W. Rada, President and Chief Executive Officer of Factory Agenda & Affair Outlet. He added, “We are able-bodied positioned for the graduation division and attending advanced to the abounding accomplishing of our new band of greeting cards from Premier Greetings in aboriginal May.”
In accession to the appear GAAP after-effects provided throughout this document, the Company has provided non-GAAP abstracts that present balance excluding defined items affecting comparability. Details of the items are presented in the tables aural this columnist release. Reconciliations from GAAP appear after-effects to non-GAAP appear abstracts declared in this columnist absolution are provided in the banking tables absorbed to this document.
The Company has provided these non-GAAP abstracts as a way to advice investors accept balance and enhance comparisons of our balance from aeon to period. Among added things, our administration uses the balance results, excluding items affecting compatibility, to appraise the achievement of its businesses. There are inherent limitations in the use of earnings, excluding items affecting comparability, because absolute after-effects do accommodate the appulse of these items. The non-GAAP measures are advised alone as a supplement to the commensurable GAAP measures and we atone for the limitations inherent in the use of non-GAAP measures by application GAAP measures in affiliation with the non-GAAP measures. As a result, investors should accede these non-GAAP measures in accession to, and not in barter for, or as aloft to, measures of banking achievement able in accordance with GAAP.
About Factory Agenda
Factory Agenda & Affair Outlet, (www.factorycard.com) based in Naperville, Illinois, currently operates 184 Company-owned retail food in 20 states, alms an all-encompassing array of affair supplies, greeting cards, gift-wrap, and added appropriate break commodity at accustomed amount prices.
Assertive statements in this account absolution aggregate “forward-looking statements” aural the acceptation of the Private Securities Litigation Reform Act of 1995. Such advanced statements absorb accepted and alien risks, uncertainties, anniversary adjustments and added factors that may account the absolute results, achievement or achievements of the Company, or industry results, to be materially altered from any approaching results, achievement or achievements accurate or adumbrated by such advanced statements.
In general, the results, achievement or achievements of the Company and its stores, and the amount of the Company’s accepted stock, are abased aloft a cardinal of factors, including, after limitation: the assurance on key personnel; competition; adeptness to ahead commodity trends and customer demand; adeptness to advance relationships with suppliers; acknowledged accomplishing of advice systems; acknowledged administration of commodity logistics; account shrinkage; adeptness to accommodated approaching basal needs; authoritative regulations; and added factors both referenced and not referenced in the Company’s filings with the Securities and Exchange Commission.
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