American Apparel, Inc 10-K Annual Report March 2013

LOS ANGELES, March 4, 2013 - American Apparel, Inc. (NYSE MKT: APP), a vertically integrated manufacturer, distributor, and retailer of branded fashion-basic apparel, announced financial results for its fourth quarter and year ended December 31, 2012. The Company also provided guidance with respect to expected 2013 performance.

Financial Performance Highlights for 2012 and the Fourth Quarter of 2012

Sales:


•	Net sales: Up 13% for year; 10% for the fourth quarter.


•	Comparable retail store sales: Up 13% for the year; 7% for the fourth quarter.


•	Online sales: Up 30% for the year; 42% for the fourth quarter.


•	Wholesale sales: Up 12% for the year; 19% for the fourth quarter.

Gross Profit:


•	For the year: Up 11% to $327.4 million in 2012 from $294.9 million in 2011.


•	For the fourth quarter: Up 11% to $93.1 million in 2012 from $83.8 million in 2011.

Operating Expenses as a Percentage of Sales:


•	For the year: Down 5.2 percentage points to 52.9% in 2012 from 58.1% in 2011.


•	For the fourth quarter: Down 4.9 percentage points to 49.8% in 2012 from 54.7% in 2011.

Cash Generated from Operating Activities:


•	For the year: Up $21.3 million to $23.6 million in 2012 from $2.3 million in 2011.


•	For the fourth quarter: Up $9.7 million to $22.0 million in 2012 from $12.3 million in 2011.

Operating Income:


•	For the year: Up $24.3 million to $1 million in 2012 from a loss of $23.3 million in 2011.


•	For the fourth quarter: Up $9.2 million to $6.8 million in 2012 from a loss of $2.4 million in 2011.

Adjusted EBITDA:


•	For the year: Up 150% to $36.6 million in 2012 from $14.5 million in 2011.


•	For the fourth quarter: Up 95% to $17.8 million in 2012 from $9.1 for in 2011.

Earnings (Loss) per Share, Diluted:


•	For the year: Up $0.07 per share to a loss of $0.35 in 2012 from a loss of $0.42 in 2011.


•	For the fourth quarter: Up $0.15 per share to $0.04 in 2012 from a loss of $0.11 in 2011.

Dov Charney, Chairman and CEO of American Apparel, Inc. stated, “We are pleased with our fourth quarter results that again show solid growth and continuing momentum in all business segments and almost all major geographies. Significant sales growth, operating expense control and the acceleration of leverage of our fixed costs allowed us to increase EBITDA performance to $17.8 million for the fourth quarter of 2012 from $9.1 million for the fourth quarter of 2011. For the full year, EBITDA increased to $36.6 million from $14.5 million in the prior year. Although we are pleased with this growth, we are focused on continuing to improve our financial performance. During this past year, we have carefully invested in systems and infrastructure to facilitate future growth.

The following information was filed by American Apparel, Inc on Monday, March 4, 2013 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

American Apparel, Inc provided additional information to their SEC Filing as exhibits

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

CIK: 1336545
Form Type: 10-K Annual Report
Accession Number: 0001336545-13-000009
Submitted to the SEC: Tue Mar 05 2013 4:14:04 PM EST
Accepted by the SEC: Tue Mar 05 2013
Period: Monday, December 31, 2012
Industry: Blank Checks

External Resources:
SEC.gov

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American Apparel, Inc (APP) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

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