Broder Bros. Co. Announces First Quarter 2010 Results
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For the first quarter, the company reported earnings before interest, taxes, depreciation and amortization (EBITDA) of $0.9 million compared to an EBITDA loss of ($2.3) million for the first quarter 2009. A reconciliation of EBITDA to net loss is set forth at the end of this press release.
Results include the impact of certain restructuring and other highlighted charges discussed below. Excluding these highlighted charges, EBITDA was $1.4 million for the first quarter compared to an EBITDA loss of ($1.2) million for the first quarter 2009. The improvement in EBITDA was driven by higher gross margins and higher unit volumes.
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