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|Contact:||Gary J. Yusko|
|Chief Financial Officer|
For immediate release:
ALLOY REPORTS FULL YEAR AND FOURTH QUARTER FISCAL 2006
Full Year Free Cash Flow Up 12% to $14.9 Million; Fourth Quarter Free Cash Flow Down 4% to $2.1 Million
Full Year Adjusted EBITDA Up 10% to $19.0 Million; Fourth Quarter Adjusted EBITDA Flat at $3.0 Million
New York, NY March 13, 2007 - Alloy, Inc. (Nasdaq: ALOY), under the banner of Alloy Media + Marketing, a leading provider of media and marketing services connecting with targeted consumer segments, today reported strong growth in Operating Income, Adjusted EBITDA and free cash flow for the full fiscal year ended January 31, 2007 (fiscal 2006) and for the fourth quarter.
Results for Fiscal 2006
For fiscal 2006, Adjusted EBITDA, defined as Operating Income (Loss) plus depreciation and amortization, special charges and non-cash stock based compensation increased $1.8 million, or 10%, to $19.0 million compared with $17.3 million for the year ended January 31, 2006 (fiscal 2005). Promotion, Media, and Placement Adjusted EBITDA increased 13% to $12.4 million; 4% to $9.4 million; and 1% to $5.8 million, respectively, while Corporate Adjusted EBITDA decreased 1% to ($8.6) million.
Free cash flow in fiscal 2006, defined as net income (loss) from continuing operations plus depreciation and amortization, Special Charges, stock-based compensation, debt conversion expense and amortization of deferred financing costs less capital expenditures, was approximately $14.9 million, or $1.19 per share, compared with $13.3 million, or $1.15 per share, in fiscal 2005, an improvement of $1.6 million, or 12%. Capital expenditures for fiscal 2006 were $2.4 million compared with $0.7 million in fiscal 2005.
The following information was filed by Alloy Inc on Tuesday, March 13, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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