iParty Corp. operates as a retailer of party goods in New England and Florida, the United States. Its stores feature approximately 20,000 products comprising paper party goods, Halloween costumes, greeting cards, and balloons, as well as merchandise, such as piñatas, tiny toys, masquerade, and Hawaiian Luau items. The company also operates e-commerce site that offers costume and related merchandise, as well as adults and kids birthday, graduation, and other merchandise categories. It serves consumers seeking party goods, party planning advice, and information. The company operates 54 retail stores, including 7 stores in Connecticut, 7 in New Hampshire, 3 in Rhode Island, 3 in Maine, 1 in Ver...
270 Bridge Street
Dedham, MA 02026
Founded in 1998
iParty Corp. announced delayed 10-Q filing
May 15 13
On 05/15/2013, iParty Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
iParty Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
Mar 6 13
iParty Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the thirteen week fourth quarter of 2012, consolidated revenues were $26.89 million, a 9.5% decrease compared to $29.71 million for the fourteen week fourth quarter in 2011, or a 3.4% decrease compared to the 13 week fourth quarter of fiscal 2011. Comparable store sales in the fourth quarter of 2012 decreased 5.7% compared to the year-ago period. Consolidated net income for the fourth quarter of 2012 was $1.8 million, compared to $3.0 million for the 14 week fourth quarter of 2011. Net income per basic and diluted share were $0.05 and $0.05, respectively, compared to $0.08 and $0.08 per basic and diluted share, for the fourth quarter in 2011. On a non-GAAP basis, net income for the 13 week fourth quarter of 2012 before interest, taxes, depreciation and amortization (EBITDA) was $2.7 million, compared to $3.4 million for the 14 week fourth quarter in 2011. Operating income was $2,412,878 against $3,059,799 a year ago. Income before income taxes was $2,368,888 against $3,003,026 a year ago.
For the fifty-two week fiscal year ended December 29, 2012, consolidated revenues were $79.09 million, a 2.2% decrease compared to $80.88 million for fifty-three week fiscal year 2011. Consolidated revenues for 2012 included a 0.1% decrease in comparable store sales from the year-ago period. Consolidated net loss for the fiscal year 2012 was $1.5 million, or $0.06 per basic and diluted share, compared to $1.3 million, or $0.05 per basic and diluted share for fiscal year 2011. Consolidated net loss for fiscal 2012 was affected by a non-cash charge related to the write-off of a deferred tax asset of $588,000. On a non-GAAP basis, EBITDA was $539,000 for fiscal year 2012, compared to EBITDA of $494,000 for 2011. Operating loss was $763,896 against $1,007,012 a year ago. Loss before income taxes was $948,680 against $1,295,295 a year ago.
iParty Corp. and Iparty Retail Stores Corp. Enters Second Amendment to Second Amended and Restated Credit Agreement
Mar 1 13
iParty Corp. and iParty Retail Stores Corp., as borrowers, (the Borrowers), entered into that certain Second Amendment (the Amendment) to the Second Amended and Restated Credit Agreement (the Credit Facility) by and among the Borrowers and Wells Fargo Bank, National Association, as administrative agent and collateral agent (Wells Fargo). Under the Credit Facility, the company must maintain a minimum excess availability of 7.5%. The Amendment allows the company to request that the minimum excess availability be reduced to zero for a period of not more than sixty days in the aggregate during the period beginning February 28, 2013 and ending April 30, 2014. The company may make the request twice during this period.