Alloy, Inc. (the �Company�) (NASDAQ: ALOY), one of the country�s
largest providers of media and marketing programs reaching targeted
consumer segments, today reported financial results for its full
fiscal year ended and fourth quarter ended January 31, 2008.
Results for Fiscal 2007 Revenue in the fiscal year ended January
31, 2008 (�fiscal 2007�) increased $3.0 million, or 2%, to $199.1
million from $196.1 million in the fiscal year ended January 31,
2007 (�fiscal 2006�). Adjusted EBITDA, defined as operating income
(loss) plus depreciation and amortization, special charges and
non-cash stock-based compensation, for fiscal 2007 was $10.4
million, compared with $19.0 million for fiscal 2006, a decrease of
$8.6 million. The decrease was primarily due to lower profitability
in the Media segment related to the Channel One acquisition and
reduced display board business. Commenting on Alloy�s performance
and outlook, Matt Diamond, the Company�s Chairman and Chief
Executive Officer stated, �Alloy took critical steps in fiscal 2007
to drive growth of our high margin Media segment. Specifically, we
acquired and integrated Channel One and Frontline, expanded our
Teen.com interactive advertising network and raised the creative
presence of our Alloy Entertainment business. These strategic
initiatives, together with a strong book of contracted business
with AMP Agency, which is part of our Promotions segment, support
our expectation of substantial revenue and earnings growth in
fiscal 2008.� Fiscal 2007 free cash flow, defined as net income
(loss) before extraordinary items plus depreciation and
amortization, special charges, stock-based compensation, debt
conversion expense and amortization of deferred financing costs
less capital expenditures, decreased approximately $21.6 million to
$(6.7) million, or $(0.50) per diluted share, compared with $14.9
million, or $1.19 per diluted share, in fiscal 2006. The decrease
was primarily due to higher capital expenditures for upgrades to
Channel One�s infrastructure as discussed in previous earnings
releases and net cash used in operating assets and liabilities.
Operating income decreased approximately $82.8 million to a loss of
$70.1 million in fiscal 2007, from income of $12.7 million in
fiscal 2006. This decrease is primarily due to a non-cash goodwill
and a long-lived asset impairment charge of $71.6 million in the
Company�s Media ($48.8 million) and Placement ($22.8 million)
segments and lower Adjusted EBITDA. The Company is required to
evaluate, at least annually, its goodwill and other long-lived
assets for impairments. These impairments are included as part of
special charges. In fiscal 2006, the Company recorded a $17.9
million expense related to the conversion of $67.9 million of its
convertible debentures. There was no debt conversion expense
recorded in fiscal 2007. Fiscal 2007 interest expense decreased
$2.8 million, to $0.1 million from $2.9 million in fiscal 2006,
primarily due to the conversion of convertible debentures to the
Company�s common stock during fiscal 2006. Income tax expense
decreased approximately $0.2 million, to $0.5 million in fiscal
2007, from $0.7 in fiscal 2006 as a result of lower state income
tax. During fiscal 2007, the Company recorded an extraordinary gain
of $5.7 million, net of tax, related to its acquisition of the
operating assets of Channel One, as a result of liabilities being
lower than initially estimated. Net loss increased $57.2 million to
$64.4 million, or $(4.82) per basic share for fiscal 2007, from a
net loss of $7.2 million, or $(0.58) per basic share for fiscal
2006, primarily due to higher special charges which were partially
offset by the extraordinary gain during fiscal 2007 and the absence
of debt conversion expense. Fiscal 2008 Outlook The Company is
reaffirming its fiscal year ending January�31, 2009 (�fiscal 2008�)
guidance, projecting revenue to be in the range of $225.0 million
to $240.0 million and Adjusted EBITDA to be in the range of $20.0
million to $24.0 million. The projections are based on a full year
of results from Frontline, a successful transition of the Channel
One business and improved sales efforts in the Company�s Promotion
and Media segments. Stock Repurchase Program During fiscal 2007,
under the Company�s stock repurchase plan, the Company spent
approximately $0.5 million repurchasing its common stock in the
open market. The Company will continue to monitor market conditions
and repurchase shares from time to time in the open market at
prevailing market prices or in privately negotiated transactions.
Results for the Fourth Quarter Ended January�31, 2008 Revenue for
the fourth quarter of fiscal 2007 was $43.1 million compared with
$40.9 million for the fourth quarter of fiscal 2006, an increase of
$2.2 million. The increase was primarily due to higher revenue in
the Media segment. Adjusted EBITDA for the fourth quarter of fiscal
2007 decreased $2.7 million, or 91%, to $0.3 million from $3.0
million in the comparable period of fiscal 2006. The decrease was
primarily due to lower profitability in the Promotion and Placement
segments. Free cash flow in the fourth quarter of fiscal 2007 was
approximately $(8.6) million, or $(0.64) per diluted share,
compared with $2.1 million, or $0.16 per diluted share in the
fourth quarter of fiscal 2006. This decrease was primarily due to
higher capital expenditures for upgrades to Channel One�s
infrastructure and the impact of lower Adjusted EBITDA. Operating
loss for the fourth quarter of fiscal 2007 was $73.8 million,
compared to operating income of $1.4 million in fiscal 2006. This
decrease was primarily due to lower profitability in the Media and
Placement segments due to a non-cash goodwill and long-lived asset
impairment charge of $71.6 million. Debt conversion expense was
$2.1 million in fiscal 2006. There was no debt conversion expense
recorded in fiscal 2007. Interest expense increased less than $0.1
million from the fourth quarter of fiscal 2006, due to the
conversion of the Company�s convertible debentures to common stock
in fiscal 2006. Income tax expense decreased approximately $0.6
million, to a benefit of $0.3 million, from $0.3 million in fiscal
2006. The amount expensed in the fourth quarter of fiscal 2007 was
due to lower state income tax. Net loss increased $72.9 million, to
$73.6 million, or $(5.44) per basic share, for the fourth quarter
of fiscal 2007, from a net loss of $0.7 million, or $(0.05) per
basic share in the fourth quarter of fiscal 2006. The net loss
increase was primarily due to lower Adjusted EBITDA, higher special
charges partially offset by the absence of debt conversion expense
and the extraordinary gain during fiscal 2007. Consolidated and
Segment Results The tables below present the Company�s revenue,
Adjusted EBITDA and operating income (loss) for the three-month
periods ended January 31, 2008 and 2007, respectively: Three Months
Ended January 31, � � Change (In thousands) 2008 � 2007 $ � %
Revenue Promotion $ 15,687 $ 17,259 $ (1,572) (9) % Media 16,699
10,765 5,934 55 Placement � 10,739 � 12,833 � (2,094) (16) Total
Revenue $ 43,125 $ 40,857 $ 2,268 6 % Adjusted EBITDA Promotion $
1,425 $ 2,956 $ (1,531) (52) % Media 1,259 1,710 (451) (26)
Placement (8) 899 (907) NM Corporate � (2,398) � (2,544) � 146 6
Total Adjusted EBITDA $ 278 $ 3,021 $ (2,743) (91) % Operating
Income (Loss) Promotion $ 1,049 $ 2,536 $ (1,487) (59) % Media
(49,005) 1,008 (50,013) NM Placement (22,840) 848 (23,688) NM
Corporate � (2,980) � (3,040) � 60 2 Total Operating Income (Loss)
$ (73,776) $ 1,352 $ (75,128) NM % NM � Not meaningful Promotion
segment revenue for the three months ended January 31, 2008, was
$15,687, a decrease of $1,572 or 9% from revenues of $17,259 for
the three months ended January 31, 2007. The decrease was primarily
due to revenue decreases in the Company�s AMP Agency and sampling
businesses, offset by an increase in revenue in the Company�s
on-campus marketing business. Adjusted EBITDA decreased 52%,
primarily due to lower profitability in the Company�s sampling and
AMP Agency businesses. Operating income decreased $1.5 million, to
$1.0 million, from $2.5 million primarily due to lower Adjusted
EBITDA. Media segment revenue for the three months ended January
31, 2008 was $16,699, an increase of $5,934 or 55 % from revenues
of $10,765 for the three months ended January 31, 2007. The fiscal
2007 acquisitions of Channel One and Frontline contributed to the
increase as well as increases in the Company�s entertainment
business. Adjusted EBITDA decreased 26% primarily due to increased
spending to upgrade the interactive properties infrastructure and
lower profitability in the Company�s display board business.
Operating income decreased $50.0 million to a loss of $49.0
million, from $1.0 million, due to higher special charges, lower
Adjusted EBITDA and increased depreciation and amortization and
stock-based compensation. Placement segment revenue for the three
months ended January 31, 2008 was $10,739, a decrease of $2,094, or
16% from revenues of $12,833 for the three months ended January 31,
2007. The decrease was primarily due to decreases in multicultural
and college newspaper revenues. Adjusted EBITDA decreased primarily
due to the impact of lower revenue and higher selling expenses.
Operating income decreased $23.6 million, to a loss of $22.8
million, from $0.8 million primarily due to higher special charges
and lower Adjusted EBITDA. Corporate Adjusted EBITDA increased 6%
to $(2.4) million for the fourth quarter of fiscal 2007, from
$(2.5) million in the prior year�s fourth fiscal quarter, primarily
due to lower medical benefit costs. Operating loss decreased 2%,
primarily as a result of higher Adjusted EBITDA. The tables below
present the Company�s revenue, Adjusted EBITDA and operating income
(loss) for the fiscal year ended January 31, 2008 and 2007,
respectively: Fiscal Year Ended January 31, � � Change � (In
thousands) 2008 � 2007 $ � % � Revenue � Promotion $ 83,405 $
95,979 $ (12,574) (13) % Media 62,780 46,287 16,493 36 Placement �
52,911 � 53,838 � (927) � (2) Total Revenue $ 199,096 $ 196,104 $
2,992 � 2 % Adjusted EBITDA Promotion $ 10,764 $ 12,431 $ (1,667)
(13) % Media 4,313 9,413 (5,100) (54) Placement 5,086 5,797 (711)
(12) Corporate � (9,774) � (8,638) � (1,136) � (13) Total Adjusted
EBITDA $ 10,389 $ 19,003 $ (8,614) � (45) % Operating Income (Loss)
Promotion $ 9,228 $ 11,077 $ (1,849) (17) % Media (49,462) 6,638
(56,100) NM Placement (17,889) 5,629 (23,518) NM Corporate �
(11,942) � (10,658) � (1,284) � (12) Total Operating Income (Loss)
$ (70,065) $ 12,686 $ (82,751) � NM % NM � Not meaningful Promotion
segment revenue for the fiscal year ended January 31, 2008 was
$83,405, a decrease of $12,574 or 13% from revenues of $95,979 for
the fiscal year ended January 31, 2007. The decrease was primarily
due to decreases in revenue in the Company�s AMP Agency and
sampling businesses, which were partially offset by increased
on-campus marketing sales. Adjusted EBITDA decreased 13%, primarily
due to lower profitability in the Company�s sampling and
promotional businesses offset by the profitability of its on campus
marketing business. Operating income decreased $1.9 million, to
$9.2 million, from $11.1 million, due to lower Adjusted EBITDA and
increased depreciation and amortization and stock-based
compensation. Media segment revenue for the fiscal year ended
January 31, 2008 was $62,780, an increase of $16,493 or 36% from
revenues of $46,287 for the fiscal year ended January 31, 2007. The
fiscal 2007 acquisitions of Channel One and Frontline contributed
to the increase as well as increases in the Company�s entertainment
business. Adjusted EBITDA decreased 54%, primarily due to the loss
at Channel One, increased spending to upgrade the Company�s
interactive properties infrastructure and lower profitability in
the display board business. Operating income decreased $56.1
million, to an operating loss of $49.5 million, from operating
income of $6.6 million, due to higher special charges, lower
Adjusted EBITDA and increases in depreciation and amortization and
stock-based compensation. Placement segment revenue for the fiscal
year ended January 31, 2008 was $52,911, a decrease of $927, or 2%,
from revenues of $53,838 for the fiscal year ended January 31,
2007. The decrease was primarily due to decreases in multicultural
and college newspaper revenues. Adjusted EBITDA decreased 12%,
primarily due to lower profitability of the multicultural and
college newspaper businesses. Operating income decreased $23.5
million to a loss of $17.9 million from $5.6 million due to higher
special charges and lower Adjusted EBITDA. Corporate Adjusted
EBITDA decreased 13% to $(9.8) million in the year ended
January�31, 2008, from $(8.6) million in the fiscal year ended
January�31, 2007. The decrease in Adjusted EBITDA was primarily due
to increased medical benefit costs, rent charges and accounting
fees. Operating loss increased 12% primarily as a result of lower
Adjusted EBITDA and an increase in stock-based compensation. About
Alloy Alloy, Inc. (NASDAQ: �ALOY�) is one of the country�s largest
providers of media and marketing programs reaching targeted
consumer segments. Alloy manages a diverse array of assets and
services in interactive, display, direct mail, content production
and educational programming. Alloy works with over 1,500 companies
including half of the Fortune 200. For further information
regarding Alloy, please visit our corporate website at
www.alloymarketing.com. Forward-Looking Statements This
announcement contains forward-looking statements within the meaning
of Section�27A of the Securities Act of 1933 and Section�21E of the
Securities Exchange Act of 1934, including statements regarding the
Company�s expectations and beliefs regarding the Company�s future
results or performance. Because these statements apply to future
events, they are subject to risks and uncertainties. When used in
this announcement, the words �anticipate�, �believe�, �estimate�,
�expect�, �expectation�, �project� and �intend� and similar
expressions are intended to identify such forward-looking
statements. The Company�s actual results could differ materially
from those projected in the forward-looking statements.
Additionally, you should not consider past results to be an
indication of the Company�s future performance. Factors that might
cause or contribute to such differences include, among others, the
Company�s ability to: increase revenues; generate high margin
sponsorship and multiple revenue streams; increase visitors to our
Web sites (www.alloy.com, www.delias.com and www.ccs.com) and build
customer loyalty; develop its sales and marketing teams and
capitalize on these efforts; develop commercial relationships with
advertisers and the continued resilience in advertising spending to
reach the teen market; manage the risks and challenges associated
with integrating newly acquired businesses; and identify and take
advantage of strategic, synergistic acquisitions and other revenue
opportunities. Other relevant factors include, without limitation:
its competition; seasonal sales fluctuations; the uncertain
economic and political climate in the United States and throughout
the rest of the world and the potential that such climate may
deteriorate further; and general economic conditions. For a
discussion of certain of the foregoing factors and other risk
factors see the �Risk Factors That May Affect Future Results�
section included in the Company�s annual report on Form 10-K for
the year ended January�31, 2007 and in subsequent filings that the
Company makes with the Securities and Exchange Commission. The
Company does not intend to update any of the forward-looking
statements after the date of this announcement to conform these
statements to actual results, to changes in management�s
expectations or otherwise, except as may be required by law. ALLOY,
INC. SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL
INFORMATION (Unaudited; in millions) A. Adjusted EBITDA The
following tables set forth the Company�s Adjusted EBITDA for the
three-month periods and years ended January�31, 2008 and 2007
respectively. The Company defines Adjusted EBITDA as net income
(loss) adjusted to exclude the following line items and amounts
presented in its Statements of Operations: extraordinary gain,
income taxes, interest income and other, interest expense, debt
conversion expense, depreciation and amortization, special charges,
and stock-based compensation. The Company uses Adjusted EBITDA,
among other things, to evaluate the Company�s operating performance
and to value prospective acquisitions. The measure is also one of
several components of incentive compensation targets for certain
management personnel and is among the primary measures used by
management for planning and forecasting future periods. The Company
believes that this measure is an important indicator of the
Company�s operational strength and performance of its business,
because it provides a link between profitability and operating cash
flow. The Company believes the presentation of this measure is
relevant and useful for investors because it allows investors to
view performance in a manner similar to the method used by the
Company�s management, helps improve investors� ability to
understand the Company�s operating performance and makes it easier
to compare the Company�s results with other companies that have
different financing and capital structures or tax rates. In
addition, this measure is also among the primary measures used
externally by the Company�s investors, analysts and peers in its
industry for purposes of valuation and comparing the operating
performance of the Company to other companies in the industry.
Since Adjusted EBITDA is not a measure of performance calculated in
accordance with Generally Accepted Accounting Principles (�GAAP�),
it should not be considered in isolation from, nor as a substitute
for, net income as an indicator of operating performance. Adjusted
EBITDA, as the Company calculates it, may not be comparable to
similarly titled measures employed by other companies. In addition,
this measure does not necessarily represent funds available for
discretionary use and is not necessarily a measure of the Company�s
ability to fund its cash needs. As Adjusted EBITDA excludes certain
financial information compared to net income, the most directly
comparable GAAP financial measure, users of this financial
information should consider the types of events and transactions
that are excluded. As required by the Securities and Exchange
Commission, the Company provides below a reconciliation of net
income (loss) to Adjusted EBITDA and operating income (loss) to
Adjusted EBITDA by segment. Three Months Ended January 31, � �
Fiscal Year Ended January 31, 2008 � 2007 2008 � 2007 � Net Income
(loss) $ (73.6) $ (0.7) $ (64.4) $ (7.2) Plus (minus) Extraordinary
gain (0.2) � (5.7) � Income taxes (0.3) 0.3 0.5 0.7 Interest income
& Other 0.2 (0.4) (0.6) (1.6) Interest expense 0.1 � 0.1 2.9
Debt conversion expense � 2.1 � 17.9 � Operating Income (loss) $
(73.8) $ 1.3 $ (70.1) $ 12.7 Plus Depreciation and amortization 1.3
0.9 5.1 3.4 Special Charges 71.6 � 71.6 0.1 Stock based
compensation 1.2 0.8 3.8 2.8 � Adjusted EBITDA $ 0.3 $ 3.0 $ 10.4 $
19.0 � � Three Months Ended January 31, 2008 Operating Income
(loss) � Depreciation and Amortization � � Stock-based Compensation
� Special Charges � Adjusted EBITDA Promotion $ 1.0 $ 0.2 $ 0.2 � $
1.4 Media (49.0) 0.9 0.5 48.8 1.2 Placement (22.8) � 0.1 22.8 0.1
Corporate � (3.0) � 0.2 � 0.4 � � (2.4) Total $ (73.8) $ 1.3 $ 1.2
71.6 $ 0.3 � � � Three Months Ended January 31, 2007 Operating
Income (loss) Depreciation and Amortization Stock-based
Compensation Special Charges Adjusted EBITDA Promotion $ 2.5 $ 0.3
$ 0.2 � $ 3.0 Media 1.0 0.4 0.3 � 1.7 Placement 0.9 � � � 0.9
Corporate � (3.1) � 0.2 � 0.3 � � (2.6) Total $ 1.3 $ 0.9 $ 0.8 � $
3.0 � � � Fiscal Year Ended January 31, 2008 Operating Income
(loss) Depreciation and Amortization Stock-based Compensation
Special Charges Adjusted EBITDA Promotion $ 9.2 $ 0.9 $ 0.7 � $
10.8 Media (49.5) 3.3 1.6 48.8 4.2 Placement (17.9) � 0.2 22.8 5.1
Corporate � (11.9) � � 0.9 � � � 1.3 � � � � � (9.7) Total $ (70.1)
$ 5.1 $ 3.8 71.6 $ 10.4 � � � � � Fiscal Year Ended January 31,
2007 Operating Income (loss) Depreciation and Amortization
Stock-based Compensation Special Charges Adjusted EBITDA Promotion
$ 11.1 $ 0.8 $ 0.5 $ � $ 12.4 Media 6.6 1.8 1.0 � 9.4 Placement 5.6
� 0.2 � 5.8 Corporate � (10.6) � � 0.8 � � � 1.1 � � 0.1 � � (8.6)
Total $ 12.7 $ 3.4 $ 2.8 $ 0.1 $ 19.0 B. Free Cash Flow Free cash
flow is defined by the Company as net income (loss) before
extraordinary items plus depreciation and amortization, special
charges, stock-based compensation, debt conversion expense and
amortization of deferred financing costs less capital expenditures.
The Company uses free cash flow, among other measures, to evaluate
its operating performance. Management believes free cash flow
provides investors with an important perspective on the Company�s
cash available to service debt and the Company�s ability to make
strategic acquisitions and investments, maintain its capital
assets, repurchase its common stock and fund ongoing operations. As
a result, free cash flow is a significant measure of the Company�s
ability to generate long-term value. The Company believes the
presentation of free cash flow is relevant and useful for investors
because it allows investors to view performance in a manner similar
to the method used by management. In addition, free cash flow is
also a primary measure used externally by the Company�s investors,
analysts and peers in its industry for purposes of valuation and
comparing the operating performance of the Company to other
companies in its industry. Free cash flow per weighted average
shares outstanding is defined by the Company as free cash flow
divided by the weighted average shares outstanding used in the
computation of net income (loss) per share. As free cash flow is
not a measure of performance calculated in accordance with GAAP,
free cash flow should not be considered in isolation from, nor as a
substitute for, net income as an indicator of operating performance
or net cash flow provided by operating activities as a measure of
liquidity. Free cash flow, as the Company calculates it, may not be
comparable to similarly titled measures employed by other
companies. In addition, free cash flow does not necessarily
represent funds available for discretionary use and is not
necessarily a measure of operating cash flow to remove the impact
of cash flow timing differences to arrive at a measure which the
Company believes more accurately reflects funds available for
discretionary use. Specifically, the Company adjusts operating cash
flow (the most directly comparable GAAP financial measure) for
capital expenditures, non-recurring expenditures and certain other
non-cash items in addition to removing the impact of sources and or
uses of cash resulting from changes in operating assets and
liabilities. Accordingly, users of this financial information
should consider the types of events and transactions which are not
reflected in this financial measure. The Company provides below a
reconciliation of net cash flow provided by operating activities, a
GAAP measure, to free cash flow. Three Months Ended January 31, � �
Fiscal Year Ended January 31, (In millions, except per share
amounts) 2008 � 2007 2008 � 2007 � Net cash provided by operating
activities $ 5.4 $ 8.9 $ 7.9 $ 7.4 Plus (minus) Changes in
operating assets and liabilities (4.5) (8.0) 3.1 (7.2) Spinoff
costs included in Special Charges � � � 0.1 Debt conversion costs �
2.1 � 17.0 Capital expenditures (9.5) (0.9) (17.7) (2.4) � Free
Cash Flow $ (8.6) $ 2.1 $ (6.7) $ 14.9 Weighted average shares
outstanding - Diluted 13.5 13.6 13.4 12.5 Free Cash Flow per
Diluted Share $ (0.64) $ 0.16 $ (0.50) $ 1.19 � ALLOY, INC.
CONSOLIDATED BALANCE SHEETS (In thousands, except per share
amounts) � � � � January 31, 2008 2007 � ASSETS Current assets:
Cash and cash equivalents $12,270 $6,366 Marketable securities
9,030 21,145 Accounts receivable, net of allowance for doubtful
accounts of $1,971 and $2,680, respectively 40,694 29,534 Inventory
3,242 3,225 Other current assets 4,987 4,862 � Total current assets
70,223 65,132 Fixed assets, net 20,199 4,403 Goodwill 50,111
119,218 Intangible assets, net 7,389 7,424 Other assets 494 389 �
Total assets $148,416 $196,566 � LIABILITIES AND STOCKHOLDERS'
EQUITY Current liabilities: Accounts payable $10,715 $7,246
Deferred revenue 11,956 10,542 Bank loan payable 4,000 0 Accrued
expenses and other current liabilities 14,615 13,887 � Total
current liabilities 41,286 31,675 Senior convertible debentures
1,397 1,397 Other long-term liabilities 2,400 823 Total liabilities
45,083 33,895 � Stockholders' equity: Common stock; $.01 par value:
authorized 200,000 shares; issued and outstanding, 15,377 and
14,698, respectively 152 147 Additional paid-in capital 445,407
438,428 Accumulated deficit (327,097) (261,692) 118,462 176,883
Less treasury stock, at cost; 1,243 and 1,151 shares (15,129)
(14,212) � Total stockholders' equity 103,333 162,671 � Total
liabilities and stockholders' equity $148,416 $196,566 � � � � �
ALLOY, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands,
except per share amounts) � � Three Months Ended Fiscal Year Ended
January 31, January 31, 2008 2007 2008 2007 (Unaudited) Revenues:
Services Revenue 37,259 35,380 159,129 159,953 Product Revenue
5,866 5,477 39,967 36,151 Revenue $43,125 $40,857 $199,096 $196,104
� Costs of Goods Sold (exclusive of depreciation shown separately
below): Costs of Goods Sold - Services 18,296 1,238 84,268 87,427
Costs of Goods Sold - Product 1,165 17,636 11,679 11,286 Total
Costs of Goods Sold 19,461 18,874 95,947 98,713 � � Expenses:
Operating 19,776 16,008 78,609 66,016 General and administrative
4,719 3,727 17,897 15,197 Depreciation and amortization 1,317 896
5,080 3,365 Special charges 71,628 0 71,628 127 Total expenses
97,440 20,631 173,214 84,705 � Operating (loss) income (73,776)
1,352 (70,065) 12,686 � Interest expense (90) (43) (154) (2,917)
Debt conversion expense 0 (2,069) 0 (17,904) Interest income and
other (203) 376 628 1,652 � � Income (loss) before income taxes
(74,069) (384) (69,591) (6,483) � Income taxes 329 (275) (481)
(750) � Income (loss) before extraordinary item (73,740) (659)
(70,072) (7,233) Extraordinary gain (net of tax) 180 0 5,680 0 Net
income (loss) ($73,560) ($659) ($64,392) ($7,233) � Basic net
earnings (loss) per share: Income (loss) before extraordinary item
($5.45) ($0.05) � ($5.24) � ($0.58) Extraordinary gain 0.01 0.00 �
0.43 � 0.00 Basic net earnings (loss) per share ($5.44) ($0.05) �
($4.82) � ($0.58) � Diluted net earnings (loss) per share: Income
(loss) before extraordinary item ($5.45) ($0.05) � ($5.24) �
($0.58) Extraordinary gain 0.01 0 � 0.43 � 0 Diluted net earnings
(loss) per share ($5.44) ($0.05) � ($4.82) � ($0.58) � Weighted
average shares outstanding: Basic 13,532 13,594 13,362 12,541
Diluted 13,532 13,594 13,362 12,541 Alloy, Inc. CONSOLIDATED
STATEMENTS OF CASH FLOWS (Amounts in Thousands) � � � � Fiscal Year
Ended January 31, 2008 � 2007 � � Net income (loss) $ (64,392) $
(7,233) Less net loss from discontinued operations -- � Net loss
from continuing operations (64,392) (7,233) Adjustments to
reconcile net loss from continuing operations to net cash provided
by (used in) operating activities: Extraordinary gain (net of tax)
(5,680) -- Depreciation and amortization of fixed assets 3,341
2,072 Amortization of debt issuance costs and other - 1,280
Amortization of intangible assets 1,739 1,294 Loss (gain) on
disposition of fixed assets 575 -- Impairment charges attributable
to goodwill, indefinite-lived assets and long-lived assets 71,628
-- Compensation charge for restricted stock and issuance of options
3,745 2,825 Changes in operating assets and liabilities: Accounts
receivable, net (5,025) 12,949 Other assets 587 19 Accounts
payable, accrued expenses, and other 1,361 (5,778) � Net cash
provided by (used in) operating activities 7,879 7,428 � Cash Flows
from Investing Activities Capital expenditures (17,088) (2,403)
Acquisition of companies 1,011 (995) Disposition of companies -- --
Purchases of marketable securities (20,675) (33,111) Proceeds from
the sales and maturity of marketable securities 32,790 13,166
Purchase of domain name / mailing list / marketing rights (1,737)
(163) � Net cash (used in) provided by investing activities (5,699)
(23,506) � Cash Flows from Financing Activities Cash payment to
dELiA*s, Inc. pursuant to spinoff -- (8,155) Proceeds from line of
credit 4,000 - Issuance of common stock 638 1,015 Repurchase of
common stock (917) (10,047) � Net cash (used in) provided by
financing activities 3,721 (17,187) � Net change in cash and cash
equivalents 5,901 (33,265) � Cash and cash equivalents: Beginning
of period (includes cash from discontinued operations of $0, $0,
and $6,503, respectively) 6,366 39,631 � End of period $12,267
$6,366
Grafico Azioni Alloy (MM) (NASDAQ:ALOY)
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Da Giu 2024 a Lug 2024
Grafico Azioni Alloy (MM) (NASDAQ:ALOY)
Storico
Da Lug 2023 a Lug 2024