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General Nutrition Centers, Inc. Reports Fourth Quarter and Full Year 2007 Results
Date:3/6/2008

PITTSBURGH, March 6 /PRNewswire/ -- General Nutrition Centers, Inc. ("GNC" or the "Company"), the largest global specialty retailer of nutritional supplements, today reported its financial results for the quarter and year ended Dec. 31, 2007.

General Nutrition Centers, Inc. is an indirect wholly-owned subsidiary of GNC Parent LLC, which was acquired on March 16, 2007 by affiliates of Ares Management LLC and Ontario Teachers' Pension Plan Board. As such, the financial results presented in this press release represent the aggregate of the financial results of General Nutrition Centers, Inc. from Jan. 1, 2007 through March 15, 2007, predecessor, and the results from March 16, 2007 to Dec. 31, 2007, successor.

For the fourth quarter of 2007, the Company reported consolidated revenues of $376.1 million, an increase of 7.6% over the consolidated revenues of $349.7 million for the same quarter of 2006. Revenue increased in each of the Company's business segments: retail by 3.6%; franchise by 9.1% and manufacturing/wholesale by 41.6%. Same store sales improved 0.2% in domestic company-owned stores and 3.8% in Canadian company-owned stores.

Earnings before income taxes, depreciation and amortization (EBITDA) was $45.6 million for the fourth quarter of 2007, compared to $18.3 million for the same quarter of 2006, an increase of $27.3 million. Included in EBITDA for the fourth quarter of 2006 was $17.8 million of discretionary payments made to stock option holders in conjunction with a distribution made to shareholders in Dec. 2006, and a loss of $0.1 million related to the sale of the Company's Australian manufacturing facility. Excluding these one-time expenses, adjusted EBITDA increased $9.4 million or 26.0% over the adjusted EBITDA of $36.2 million in the same quarter of 2006. Also included in EBITDA for each of the fourth quarters of 2007 and 2006 was $0.6 million of non-cash, stock-based compensation expense.

For the year ended Dec. 31,
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SOURCE General Nutrition Centers, Inc.
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