American Apparel Inc. Reports Fourth Quarter and Full Year 2012 Financial Results 

American Apparel Inc., the Los Angeles-based manufacturer, distributor and retailer of branded fashion-basic apparel, announced financial results for its fourth quarter and year ended Dec. 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 percent for year; 10 percent for the fourth quarter.
• Comparable retail store sales: Up 13 percent for the year; 7 percent for the fourth quarter.
• Online sales: Up 30 percent for the year; 42 percent for the fourth quarter.
• Wholesale sales: Up 12 percent for the year; 19 percent for the fourth quarter.

Gross Profit:

• For the year: Up 11 percent to $327.4 million in 2012 from $294.9 million in 2011.
• For the fourth quarter: Up 11 percent 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 percent in 2012 from 58.1 percent in 2011.
• For the fourth quarter: Down 4.9 percentage points to 49.8 percent in 2012 from 54.7 percent 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 percent to $36.6 million in 2012 from $14.5 million in 2011.
• For the fourth quarter: Up 95 percent to $17.8 million in 2012 from $9.1 for in 2011.

Earnings (Loss) per Share, Diluted: