Amscan Holdings, Inc Announces Revenues for First Quarter 2006.ELMSFORD N.Y. -- Amscan Holdings, Inc, a leading designer, manufacturer and distributor of decorative party goods in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the world's largest manufacturer of metallic balloons and, through its recent acquisition of Party City Corporation, America's largest party goods chain, today announced its revenues for the first quarter ended March 31, 2006, as compared to the prior year quarter ended March 31, 2005. For the quarter ended March 31, 2006, total revenue was $208.3 million, including net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight at wholesale of $107.3 million, retail net sales of $96.9 million and franchise-related revenue of $4.1 million. Assuming the December December: see month. 23, 2005 acquisition of Party City Corporation had occurred on January January: see month. 1, 2005, total pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma revenue for the quarter ended March 31, 2005 was $186.5 million, including net sales at wholesale of $91.7 million, retail net sales of $91.0 million and franchise-related revenue of $3.8 million. The Company's total revenues include the revenues of all majority-owned and controlled subsidiaries for the calendar quarters ended March 31, 2006 and 2005, except for the revenues of Party City Corporation, which are included for the thirteen-week period ended April 1, 2006 and, on a pro forma basis, for the thirteen-week period ended the April 2, 2005. Wholesale Operations Net sales at wholesale for the quarter ended March 31, 2006, after the elimination of $15.9 million of inter-company sales to Party City company-owned stores, totaled $107.3 million or 16.9% higher than the pro forma net sales for the first quarter of 2005 of $91.7 million. The pro forma net sales for the first quarter of 2005 assume the elimination of $15.3 million of historical sales from the Company to Party City company-owned stores during the quarter. Retail Operations Same-store net sales for company-owned stores during the first quarter 2006 totaled $95.9 million, or 6.0% higher than during the first quarter of 2005. This improvement reflects an increase of 9.5% in same-store net sales of non-seasonal merchandise, partially offset by an 8.4% decrease in same-store net sales of seasonal merchandise. The decrease in same-store net sales of seasonal merchandise reflects a sales shift as Easter Easter [A.S. Eastre, name of a spring goddess], chief Christian feast, commemorating the resurrection of Jesus after his crucifixion. In the West, Easter is celebrated on the Sunday following the full moon next after the vernal equinox (see calendar); thus, it Sunday Sunday: see Sabbath; week. fell in April 2006 as compared to in March 2005. Same-store net sales for franchise stores of $102.6 million increased 7.4%, comparing the first quarters of 2006 and 2005. Total net sales for company-owned stores were $96.9 million for the first quarter of 2006, increasing 6.5% as compared with pro forma sales of $91.0 million in the first quarter of 2005. Total chain-wide net sales (which include aggregate sales for company-owned and franchise stores) were approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $201.2 million for the first quarter of 2006, an increase of 5.8% compared with pro forma sales of $190.2 million for the first quarter of 2005.
Retail - Summary Information
($ in millions) Quarter Ended
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April 1, 2006 April 2, 2005
Pro Forma
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Total chain-wide sales $201.2 $190.2
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Company-owned stores:
Net sales 96.9 91.0
Same store sales 6.0% (7.1%)
Number of company-owned, end of period 250 247
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Franchise stores:
Same store sales 7.4% (7.4%)
Number of franchise-owned, end of period 255 259
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Except for historical information contained herein, the statements in this release are forward-looking for·ward-look·ing adj. Concerned with or making provision for the future: forward-looking educators; a forward-looking corporate plan. Adj. 1. and made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. Those risks and uncertainties include, among other things, the effect of price and product competition in the party goods industry in general and in our specific market areas, our ability to anticipate customer demand for products and to design and develop products that will appeal to our customers, our ability to identify and realize acquisition synergies, the availability and terms of capital to fund capital improvements, acquisitions and ongoing operations, the effect of fluctuation Fluctuation A price or interest rate change. in interest rates and foreign currency, our ability to manage successfully our franchise program, our ability to attract and retain qualified personnel, the effect of changes in raw material and other costs of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. and economic conditions in general. Please see our filings with the Securities and Exchange Commission for a more complete discussion and analysis of these and other risks and uncertainties. You are cautioned not to place undue reliance on such forward-looking statements, which are made as of the date of this release, and we have no obligation or intention to update or revise such forward-looking statements. |
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