To: Joe Copia who wrote (12 ) 2/25/2004 9:29:04 PM From: Skywatcher Respond to of 29 It doesn't get much better than this for a little guy!!!!! iParty Corp. Reports Net Income for Fiscal Year 2003 4th Quarter Net Income up 118% Wednesday February 25, 9:00 am ET DEDHAM, Mass.--(BUSINESS WIRE)--Feb. 25, 2004--iParty Corp. (AMEX: IPT - News), a party goods retailer which operates 38 iParty retail stores and licenses the operation of an Internet site for party goods and party planning at www.iparty.com, today reported financial results for its fourth quarter and fiscal year 2003. ADVERTISEMENT For the quarter, iParty Corp. reported consolidated revenues of $20.7 million, a 17.7% increase compared to $17.6 million for the fourth quarter of 2002. This year's fourth quarter revenues included a 12.6% increase in comparable store sales, defined as sales from those stores open for at least one full year, and the impact of three stores opened in the second half of 2003. Consolidated gross profit margin for the quarter was 48.8% compared to a margin of 46.2% for the fourth quarter of 2002. The Company reported a consolidated net income of $2.6 million, or $0.07 per basic share and $0.06 per diluted share for the quarter, compared to a consolidated net income of $1.2 million, or $0.03 per basic and diluted share, in the fourth quarter of 2002. For the fiscal year ended December 27, 2003, iParty Corp. reported consolidated revenues of $56.7 million, an 8.7% increase compared to $52.2 million for 2002. This fiscal year's revenues included a 4.8% increase in comparable store sales. Consolidated gross profit margin for the fiscal year was 44.0% compared to a margin of 41.7% for same period in 2002. The Company reported a consolidated net income of $0.8 million, or $0.02 per basic and diluted share, compared to a consolidated net loss of $0.7 million, or $0.04 per basic and diluted share, for fiscal year 2002.