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November 2010
October 2010
July 2010
June 2010
June 2010
May 2010
May 2010
April 2010
February 2010
September 2009
American Achievement Corporation
(in millions) | |||
Fiscal Year Ended | |||
August 29, 2009 |
August 30, 2008 | ||
Net sales |
$ 288 – $ 293 |
$ 313.4 | |
Operating income from continuing operations (a) |
35 – 37 |
40.2 | |
EBITDA from continuing operations (a)(b)(d) |
60 – 63 |
65.1 | |
Adjusted EBITDA from continuing operations (a)(c)(d) |
72 – 75 |
74.2 |
(a) |
Operating income from continuing operations, EBITDA from continuing operations and Adjusted EBITDA from continuing operations do not reflect the impact, if any, of the Company’s annual evaluation for impairment of goodwill and indefinite-lived intangible assets, which has not yet been completed as of the date of the preliminary estimated results. |
(b) |
EBITDA from continuing operations represents operating income from continuing operations plus depreciation and amortization. EBITDA from continuing operations includes a $3.6 million non-cash fixed asset impairment charge incurred during the fiscal year ended August 29, 2009. |
(c) |
Adjusted EBITDA from continuing operations represents EBITDA from continuing operations plus the following adjustments: (i) annual management fees and expenses incurred pursuant to the management agreement entered into in connection with the March 2004 acquisition of the Company; (ii) consulting and professional fees incurred by the Company relating to
streamlining its business and improving operational efficiencies and software implementation; (iii) non-cash fixed asset impairment charge of $3.6 million incurred during fiscal year 2009; (iv) professional fees incurred to amend the Company’s credit facility; (v) severance and plant closing costs; and (vi) expenses incurred in the re-branding and marketing of certain products. |
(d) |
The Company considers EBITDA and Adjusted EBITDA to be key indicators of operating performance. These and similar measures are instrumental in the determination of compliance with certain financial covenants in its senior secured credit facility, in the calculation of the aggregate fee payable under the Company’s management agreement and
in the determination of a portion of compensation for certain employees. The Company also believes that EBITDA and Adjusted EBITDA are useful to investors in assessing the value of companies in general and in evaluating the liquidity of companies with debt service obligations and their ability to service their indebtedness. |
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Aac Group Holding Corp. provided additional information to their SEC Filing as exhibits
CIK: 1311835
Form Type: 10-K Annual Report
Accession Number: 0001311835-09-000034
Submitted to the SEC: Tue Nov 17 2009 6:34:32 PM EST
Accepted by the SEC: Wed Nov 18 2009
Period: Saturday, August 29, 2009
Industry: Jewelry Precious Metal