Vitamin Shoppe, Inc. Announces First Quarter 2019 Results

Wednesday, May 8, 2019 General News
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First Quarter 2019 Highlights:

TABLE 5

VITAMIN SHOPPE, INC. AND SUBSIDIARY

ADJUSTED EBITDA RECONCILIATION

(In thousands)

(Unaudited)

Three Months Ended

March 30,

March 31,

2019

2018

Net income from continuing operations

$                     3,497

$                     9,657

Additions:

Provision for income taxes

1,728

4,215

Interest expense, net

1,066

2,441

Depreciation and amortization

9,853

10,478

EBITDA

16,144

26,791

Adjustments:

Management realignment costs (1)

1,023

-

Store closure costs (2)

1,012

-

Gain on extinguishment of debt (3)

-

(12,502)

Distribution center closing costs (4)

-

2,240

Nutri-Force transaction (5)

-

129

Adjusted EBITDA

$                   18,179

$                   16,658

(1) Costs related to management turnover, including severance charges and related professional fees.

(2) Store closure costs primarily include lease termination fees.

(3) Gain recognized on the repurchase of a portion of Convertible Notes.

(4) Costs related to the closing of the North Bergen, New Jersey distribution center.

(5) Costs related to the pending sale of Nutri-Force.



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