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General Nutrition Centers, Inc. Reports First Quarter 2008 Financial Results
Date:5/8/2008

PITTSBURGH, May 8 /PRNewswire/ -- General Nutrition Centers, Inc. ("GNC" or the "Company"), the largest global specialty retailer of nutritional supplements, today reported its financial results for the first quarter ended March 31, 2008.

The Company is an indirect wholly owned subsidiary of GNC Parent LLC which was acquired on March 16, 2007 by affiliates of Ares Management LLC ("Ares") and Ontario Teachers' Pension Plan Board ("Teachers"). As such, the financial results presented in this press release represent the aggregate of the financial results of General Nutrition Centers, Inc. from January 1, 2007 through March 15, 2007, predecessor, and the results from March 16, 2007 to March 31, 2007 and for the three months ended March 31, 2008, successor.

For the first quarter of 2008, the Company reported revenues of $428.1 million, a 9.2% increase over the same quarter in 2007. This increase was the result of increased revenues in each of the Company's business segments: Retail by 5.5%; Franchise by 10.4%; and Manufacturing/Wholesale by 47.5%. Same store sales improved 2.2% in domestic company-owned stores (including internet sales), and 2.6% in Canadian stores. Domestic same store sales were negatively impacted by approximately 0.6% due to the shift of the Easter holiday to the first quarter in 2008, compared to the second quarter in the prior year.

For the first quarter 2008, the Company reported earnings before interest, income taxes, depreciation and amortization (EBITDA) of $54.9 million compared to $(4.1) million for the same quarter in 2007. Included in the first quarter of 2007 was $51.3 million of transaction costs and related expenses resulting from the acquisition of the Company by Ares and Teachers. Also, included as part of compensation expense for the first quarters of 2008 and 2007 was $0.7 million and $0.5 million, respectively, of non-cash stock-based compensation expense. Excluding the non-cash stock compensation expense
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SOURCE General Nutrition Centers, Inc.
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