Amscan Holdings, Inc. Announces First Quarter 2004 Results.Business Editors ELMSFORD, N.Y.--(BUSINESS WIRE)--April 23, 2004 Amscan Holdings, Inc. today announced its results for the quarter ended March 31, 2004. 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 for the first quarter of 2004 totaled $100.5 million, up from $99.8 million for the first quarter of 2003. Gross margin for the first quarter of 2004 was 34.3% or 140 basis points higher than for the first quarter of 2003. Income from operations totaled $14.6 million and was $2.2 million or 17.8% higher than for the first quarter of 2003. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become , or earnings before interest, income taxes, depreciation and amortization (as defined in the Company's credit facility), was $18.7 million and was $1.9 million or 11.6% higher than for the first quarter of 2003. During the quarter ended March 31, 2004, the Company made a $20.2 million prepayment Prepayment 1. The payment of a debt obligation prior to its due date. 2. The excess payment over a scheduled debt repayment amount. Notes: 1. Examples include deferred expenses such as rent and early loan repayments. 2. of its term loan based on its excess cash flows for the year ended December December: see month. 31, 2003. Asked to comment on the first quarter results, Gerry Rittenberg, the Company's Chief Executive Officer, stated "We are pleased with our first quarter results, which reflect the benefits of certain initiatives put into place during 2003." Amscan Holdings, Inc. designs, manufactures and distributes decorative party goods, including paper and plastic tableware, accessories and novelties A novelty is a small manufactured adornment, especially a personal adornment. In this sense, the word is usually used in the plural, novelties. The word is also used to denote novelty item. . Amscan also designs and distributes home, baby, wedding and other gift items. Any statements in this press release that may be considered 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. are subject to risks and uncertainties that could cause actual results to differ materially. Actual results may differ from such forward looking statements due to the factors discussed in periodic reports filed by the Company with the Securities and Exchange Commission which the Company urges bondholders to consider. |
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