My Bead Therapy’s earthy and soulful fine artisan jewelry showcases her richly textured wire and metalwork, and a range of materials from gemstones to feathers. Created in Heidi’s Davis County studio, My Bead Therapy designs can be found on-line and at area art fairs.

To learn more about My Bead Therapy or our participation in The Artisan Group’s celebrity gifting initiatives, visit http://www.mybeadtherapy.com, call 801-923-8743, or email heidi @ mybeadtherapy dot com.

These awards to Utah State University and the University of Utah are part of the Department’s Nuclear Energy University Program and Integrated University Program that will support nuclear energy R&D and student investment at 46 colleges and universities nationwide.

According to the DOE’s release, these efforts at the Department of Energy build on President Obama’s commitment to work with Congress to help keep college education affordable for America’s students by keeping interest rates low on student loans.

“We must invest in the next generation of American scientists and engineers in order to fulfill our commitment to restarting America’s nuclear industry and making sure that America stays competitive in the 21st century,” said Secretary Chu. “The awards announced today – from scholarships and fellowships to university-led nuclear research projects – are part of the Obama Administration’s efforts to keep college affordable for students nationwide. These investments in Utah will help train and educate our future energy leaders, while developing the innovations we need to create new jobs and export opportunities for American-made nuclear technologies.”

Awards under the Nuclear Energy University Program are divided into multiple categories, including undergraduate scholarships, graduate fellowships, university-led research and development projects, and upgrades at university research reactors.

At the Utah State University, researchers will receive $690,000 to conduct experiments that generate data on natural convection through a fuel assembly. The data will be used to validate the computational models being developed for nuclear safety and design.

Through the Integrated University Program, the Department is also awarding two Utah State University students $310,000 in graduate fellowships, in addition to a summer internship at a DOE National Laboratory. Four students will also receive $5,000 each in scholarship awards. With the support of this program, the students will receive financial support to pursue a degree in the nuclear field and gain the skills and experiences they need to succeed in a nuclear science and engineering career. The selected students will study a breadth of critical nuclear energy issues, from fuel cycle sustainability to reactor efficiency and design.

The University of Utah will receive $29,000 to will upgrade and improve its TRIGA (UUTR) facilities including its fuel handling tool. The tool which is used for research, services, training of students will be used for a variety of experiments. One student will receive a $5,000 scholarship award through the Integrated University Program.

Nationally, the Energy Department is awarding 143 awards for a total of $47 million as part of the Nuclear Energy University Program and Integrated University Program. Find a full list of projects selected for award HERE.

For more information the Nuclear Energy University Programs and the Integrated University Program visit www.neup.gov.

Los Angeles, CA – May 08, 2012 – An accomplished author and prominent film maker have teamed up to explore the issue of being gay and gay marriage in conservative Utah. They hope to change the conversation about gay issues with OUTSIDE: GAY IN UTAH, an even-handed documentary that will examine the searing contradictions and controversies surrounding homosexuality in a state known for being the center of the LDS Mormon Church.

Hollywood Producer/Director Ken Aguado and author Dr. Stephen Seager have joined forces on the project, with a target premiere at the Sundance Film Festival in early 2013. Production is set to begin this summer.

“The objective of our film is to turn down the volume on a very volatile, hot button issue,” says Dr. Seager, a native of Utah who brings a very personal connection to the documentary. “We’ll talk to those on both sides, from the openly supportive community in Salt Lake City to the hierarchy of the Mormon Church. The purpose of the film is to take an even handed look at this polarizing debate on what constitutes marriage and, just as importantly, how the two sides can find common ground.

“Utah is quite a dichotomy in that it’s conservative on the legalities of what constitutes a legal marriage and yet is also home to one of the country’s more accepting gay communities in Salt Lake City. Our film will talk to the man on the street, the students, parents of gay children, professors, clergy and others who have experienced this firsthand in the state.”

(OUTSIDE: GAY IN UTAH is raising funds through Kickstarter, an innovative funding platform for creative projects.)

Dr. Seager grew up in Utah and had relatives who were quite prominent in the community but spent their entire personal lives hiding the fact that they were gay.

Aguado is a veteran film and television producer and director. He produced THE SALTON SEA starring Val Kilmer, Vincent D’Onofrio and Debra Kara Unger for Castle Rock Entertainment/Warner Brothers; CRAZY AS HELL, starring Eriq La Salle and Michael Beach, distributed theatrically by Artistic License; SEXUAL LIFE, written and directed by Ken Kwapis, starring Anne Heche, Tom Everett Scott and Elizabeth Banks for Showtime.

Most recently Aguado completed the independent film THE GOATS, based on the famous novel by Brock Cole. The Goats is a topical drama about two kids who must grapple with the aftermath of a bullying incident.

When Dr. Seager learned that Aguado was developing a motion picture based on the anti-gay rights campaign of Anita Bryant, he suggested they team up to produce an even-handed examination of the strange plight of homosexuality in the predominantly Mormon state of Utah. Aguado expects to draw upon his substantial Hollywood relationships for both on and off camera celebrity interviews and input.

While a number of states have passed gay marriage laws in recent years (Connecticut, Iowa, Massachusetts, New Hampshire, New York, and Vermont, plus Washington, D.C. and Oregon’s Coquille and Washington State’s Suquamish Indian tribes), the vast majority of the country still adheres to the constricts of the Defense of Marriage Act, a federal law passed during the Clinton Administration in September of 1996.

California passed a law in June 2008 affirming the legality of gay marriage but it was struck down by voters on November 4 of that same year under the controversial Proposition 8, which was heavily backed by the Mormon Church.

About Stephen Seager
Dr. Stephen Seager is a staff psychiatrist at Napa State Hospital in Napa California. He is the author of five books, including Breathe, Little Boy, Breathe (1981 Prentice/Hall); Emergency! A Novel (1983 GP Putnam’s Sons); Psychward: A year behind locked doors (GP Putnam’s Sons); Street Crazy, America’s Mental Health Tragedy (2008 Westcom Press); and, The God Gene, a novel (2010 Westcom Press)

‘Psychward’ was optioned to Paramount Pictures (film), ABC Television and the BBC. Dr. Seager has appeared on more than 300 shows to talk about his work, including Good Morning America, The Oprah Winfrey Show and National Public Radio. His books have also been translated into German and Japanese.

Related Material: The “conversations” have already begun. To see what some LGBT youth are thinking about being gay in Utah, please click here.

PAYSON, Utah, May 8, 2012 – Liberty Safe and Security Products, Inc. (“Liberty” or the “Company”) today announced the promotions of Kim Waddoups and Steve Allred to new executive positions, effective immediately.
Jeff Talley, Chief Executive Officer of Liberty, commented, “We are pleased to strengthen our executive management team with the promotions of Kim Waddoups and Steve Allred. Each has made numerous contributions over the years to the growth of our Company, demonstrating exceptional leadership and an unwavering commitment to Liberty along the way. By expanding the strategic roles of these two highly talented professionals, we expect to realize significant benefits as we remain focused on strengthening Liberty’s leading industry brand for premium home and gun safes.”

Mr. Waddoups has been named President of Liberty, where he will be responsible for achieving the Company’s sales and marketing objectives. Mr. Waddoups joined Liberty in 2003 as Chief Financial Officer. During his nine-year tenure as CFO, he led numerous operational and financial reporting initiatives that increased the Company’s profitability and enhanced capital efficiency. Previously, he served 14 years in various senior-level positions at Easton Technical Products, a sports equipment manufacturer and division of Jas D. Easton, Inc.

Mr. Allred was appointed Senior Vice President and Chief Operations Officer. Mr. Allred joined Liberty in 1994 as Operations Manager and was promoted to Vice President of Operations in 2007. In his new capacity, he will manage the development and implementation of advanced manufacturing processes aimed at increasing the Company’s production capabilities. Prior to Liberty, Mr. Allred worked for eight years as the Manager of Operations and Programs for Teleflex Defense Systems, a division of Teleflex, Inc.

Mr. Waddoups stated, “It is an honor to work with a great management and ownership team that has maintained a steadfast approach to financially growing our Company. I am also proud to be a part of an incredible workforce dedicated to manufacturing high-quality products right here in the USA. This is an exciting time at Liberty. We continue to execute our strategy aimed at supporting and expanding our diverse group of accounts, and remain committed to delivering a valuable, comprehensive solution that surpasses our customers’ expectations.”

Mr. Allred commented, “Liberty’s industry leadership and attractive growth prospects provide for a bright future. With the advanced manufacturing processes we continue to implement combined with the addition of a new product line, we expect to significantly increase our current output in order to meet the robust demand for our premium products. It is great to be part of a knowledgeable and diligent staff that continues to meet and exceed our objectives, enabling Liberty to support job growth and enhance its reputation for operational excellence.”

About Liberty Safe and Security Products, Inc.
Based in Payson, Utah and founded in 1988, Liberty is the premier designer, manufacturer and marketer of home and gun safes in North America. From its over 200,000 square foot manufacturing facility, the Company produces a wide range of home and gun safe models in a broad assortment of sizes, features and styles. Products are marketed under the Liberty brand, as well as a portfolio of licensed and private label brands, including Remington, Cabela’s and John Deere. The Company’s products are the market share leader and are sold in various sporting goods, farm and fleet, and home improvement retailers. Liberty also has the largest independent dealer network in the industry. For more information, please visit the Company’s website at www.libertysafe.com.

Liberty is a subsidiary of Compass Diversified Holdings (NYSE: CODI), an owner of leading middle market businesses. For more information on CODI, please visit www.compassdiversifiedholdings.com.

This press release may contain certain forward-looking statements, including statements with regard to the future performance of the Company. Words such as “believes,” “expects,” “projects,” and “future” or similar expressions, are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and some of these factors are enumerated in the risk factor discussion in the Form 10-K filed by CODI with the Securities and Exchange Commission for the year ended December 31, 2011 and other filings with the Securities and Exchange Commission. CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Liberty Safe and Security Products, Inc.

From the moment you walk through the doors, you will be immersed in the underwater world of Sami and Lizi Seamonster. Based upon the storybooks written and illustrated by Owners/Directors Dr. Alan and Karen Seamons, this program provides an unwavering foundation for children to enable them to adapt, adjust, and flourish in our ever-changing world. This child-centered, experiential-based learning environment promotes character development and performing arts as children discover themselves and the world around them.

For more information call the Seamons(ters) at 385-212-3896 or visit:
www.discoverybaydaycare.com
www.childofvirtue.com
www.discoverybaydaycare.blogspot.com

Media Contact: Dr. Alan Seamons
Business Phone #385-212-3896
Cell Phone #801-244-3010
Email: discoverybaydaycare@gmail.com

“As we build on another record quarter and continue to generate strong results from the global roll out of our ageLOC anti-aging products, we are optimistic about the future of our business,” said Ritch Wood, chief financial officer. “We have used our financial strength in the past to repurchase shares, and it makes sense to increase share repurchase activity at this point in time to benefit our shareholders.”
About Nu Skin Enterprises, Inc.

Nu Skin Enterprises, Inc. demonstrates its tradition of innovation through its comprehensive anti-aging product portfolio, independent business opportunity and corporate social responsibility initiatives. The company’s scientific leadership in both skin care and nutrition has established Nu Skin as a premier anti-aging company, evidenced in its unique ageLOC® science that addresses aging at its source. The company’s anti-aging products feature the new ageLOC suite of products including the ageLOC R2 nutritional supplement, ageLOC Galvanic Spa System and ageLOC Galvanic Body Spa, as well as the ageLOC Transformation daily skin care system. A global direct selling company, Nu Skin operates in 52 markets worldwide and has more than 860,000 independent distributors. Nu Skin is traded on the New York Stock Exchange under the symbol “NUS.” More information is available at http://www.nuskin.com.

Please note: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the company’s current expectations and beliefs regarding stock repurchases, the company’s launch of new products and development of future products and the company’s other plans and strategies. These forward-looking statements are based on current information and expectations, and are subject to risks and uncertainties discussed in company filings with the U.S. Securities and Exchange Commission, which could cause the company’s actual results to differ materially from expected results. The company undertakes no obligation to publicly update any forward-looking statement contained in this press release, whether as a result of new information, future developments or otherwise, except as may be required by law.

First Quarter Highlights (Q1 2012 vs. Q1 2011)

— Net sales increased 47.9% to $53.3 million, with domestic net sales
increasing 46.5%, international net sales increasing 44.1% and online
net sales increasing 69.4%
— Gross profit increased 41.9% to $26.0 million
— GAAP net income was $1.1 million, or $0.04 per diluted share
— Adjusted net income increased 42.3% to $1.5 million, or $0.05 per
diluted share. Adjusted net income excludes $418 thousand of after-tax
expenses ($667 thousand before tax benefit) related to a lawsuit settled
with Monster Cable Products, Inc. during the quarter

Jeremy Andrus, Skullcandy’s President and CEO stated, “We are proud of our record first quarter results and achievements. In the first quarter we delivered a 47.9% net sales increase while laying the groundwork for the launch of the next generation of Skullcandy products and packaging — the biggest product conversion in the Company’s history. In line with expectations, we began shipping the new 2012 products and packaging. Early sell-through on the new Hesh and feedback on our Supreme Sound positioning and new packaging has been extremely positive. Over the next several months, we plan to further reinforce our evolved brand message with the rollout of a new global fixture and merchandising program that will include our award winning interactive listening displays and a series of new freestanding product fixtures.”

First Quarter Results

Net sales in the first quarter of 2012 increased 47.9% to $53.3 million from $36.0 million in the same quarter of the prior year. In the first quarter of 2012, domestic net sales increased 46.5% to $37.2 million, international net sales increased 44.1% to $10.9 million, and online net sales increased 69.4% to $5.2 million.

Gross profit in the first quarter of 2012 increased 41.9% to $26.0 million from $18.3 million in the same quarter of the prior year. Gross margin was 48.8% in the first quarter of 2012 compared to 50.8% in the first quarter of 2011. The decrease in gross margin was due primarily to lower margin sales in the closeout channel in connection with the transition to an updated product and packaging collection, which will launch in retail stores in the second quarter of 2012 and be rolled out over the course of 2012.

Selling, general and administrative (SG&A) expenses in the first quarter 2012 increased 70.2% to $24.5 million from $14.4 million in the same quarter of the prior year. The increase was primarily the result of $4.1 million in additional payroll-related expenses, $1.8 million in additional marketing and advertising expenses and $1.0 million in additional depreciation and amortization based on increased investments in property and equipment and the acquisition of certain intangible assets in August 2011. The Company continues to make critical investments in the business to support long-term growth. These investments include additional personnel in key areas of the business, product development, point-of-sale merchandising, international expansion and development of the Company’s gaming platform. The first quarter 2012 SG&A expenses also increased due to $0.7 million of legal expenses related to a lawsuit with Monster Cable Products, Inc. (“Monster”) that was settled on February 15, 2012. No further expenses related to the Monster lawsuit will be incurred in subsequent periods.

Income tax expense in the first quarter of 2012 decreased $0.6 million to $0.3 million from $0.9 million in the same quarter of the prior year. The Company’s effective tax rate decreased to 19.3% as a result of disqualifying dispositions of incentive stock options as well as the impact of earnings in countries that have lower statutory rates than the United States. All earnings in the first quarter 2011 were from the United States for tax purposes.

GAAP net income in the first quarter of 2012 was $1.1 million, or $0.04 per diluted share, based on 28.0 million diluted weighted average common shares outstanding. Net income in the same quarter of the prior year was $1.1 million, or $0.05 per diluted share, based on 19.7 million diluted weighted average common shares outstanding.

Excluding $418 thousand of after-tax expenses related to the Monster litigation, adjusted net income in the first quarter of 2012 was $1.5 million, or $0.05 per diluted share, based on 28.0 million diluted weighted average common shares outstanding. Adjusted net income in the same quarter of the prior year was equal to GAAP net income.

EBITDA in the first quarter of 2012 decreased to $2.8 million from $4.2 million in the same quarter of the prior year. Adjusted EBITDA decreased to $3.4 million from $4.2 million in the same quarter of the prior year. For a reconciliation of EBITDA and adjusted EBITDA to net income, see the accompanying tables at the end of this release.

Outlook

For the full year 2012, the Company expects net sales of $280 million to $300 million and adjusted diluted earnings per share of $1.10 to $1.20. The expected adjusted diluted earnings per share excludes $0.4 million of after-tax expenses related to the Monster litigation. The expected 2012 adjusted diluted earnings per share range assumes an effective tax rate of approximately 35% and diluted weighted average shares outstanding of approximately 28.7 million.

Call Information

A conference call to discuss the first quarter 2012 results is scheduled for today, May 2, 2012, at 4:30 PM Eastern Time/2:30 PM Mountain Time. A broadcast of the call will be available on the Company’s website, www.skullcandy.com . Analysts and investors can participate in the live call by dialing (800) 967-7184 or (719) 325-2289. In addition, a replay of the call will be available shortly after the conclusion of the call and remain available through May 9, 2012. To access the telephone replay, listeners should dial (877) 870-5176 or (858) 384-5517 and enter ID #4893351.

About Skullcandy, Inc.

Skullcandy became one of the world’s most distinct audio brands by bringing color, character and performance to an otherwise monochromatic space and helped revolutionize the audio arena by introducing headphones, earbuds and other audio and wireless lifestyle products that possess unmistakable style and exceptional performance. From the award-winning, optic-inspired Roc Nation Aviator headphones to the evolutionary fitting FIX earbuds and a roster of some of the world’s finest athletes, musicians and artists, Skullcandy continues to redefine world-class audio performance and style. Visit skullcandy.com, or join us at facebook.com/skullcandy or on Twitter @skullcandy.

Forward-Looking Statements

Certain statements in this press release and oral statements made from time to time by representatives of the Company are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements regarding the Company’s guidance, future financial and operating results and any other statements about the Company’s future expectations, beliefs or prospects expressed by management are forward-looking statements. These forward-looking statements are based on management’s current expectations and beliefs, but they involve a number of risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to, the Company’s ability to extend the recognition and reputation of its brand, to continue to develop innovative and popular products, to respond to changes in consumer preferences, to grow its international business, to implement new sourcing initiatives and other factors that are detailed in the Company’s annual report on Form 10-K for its most recent fiscal year and in other reports the Company files with the SEC, including the Risk Factors contained in the Company’s annual and other reports, which are available at www.sec.gov . Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

SKULLCANDY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands of dollars, except share and per
share information)
(unaudited)

Three Months Ended
March 31,
———————-

2012 2011
———- ———-
Net sales $53,280 $36,018

Cost of goods sold 27,296 17,703
———- ———-
Gross profit 25,984 18,315
Selling, general and
administrative expenses 24,500 14,399
———- ———-
Income from operations 1,484 3,916
Other income (48) (13)
Interest expense 124 274
Interest
expense–related party — 1,724
———- ———-
Income before income
taxes and
noncontrolling
interests 1,408 1,931

Income taxes 267 852
———- ———-

Net income 1,141 1,079
———- ———-
Net income attributable
to noncontrolling
interests (24) –

Preferred dividends — (9)
———- ———-
Net income attributable
to Skullcandy, Inc. $1,117 $1,070
========== ==========
Net income per common
share attributable to
Skullcandy, Inc.
Basic $0.04 $0.08
Diluted 0.04 0.05
Weighted average common
shares outstanding
Basic 27,281,753 14,177,352
Diluted 27,942,313 19,676,916

SKULLCANDY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands of dollars)
(unaudited)

As of As of As of
March March December
31, 31, 31,

2012 2011 2011
——– ——– ——–
Assets
Current assets:
Cash and cash equivalents $10,913 $5,965 $23,302
Accounts receivable, net 39,162 25,654 50,616
Inventories 51,075 28,867 43,975
Prepaid expenses and other
current assets 4,846 5,301 8,499

Deferred taxes 3,097 3,711 3,978
——– ——– ——–
Total current assets 109,093 69,498 130,370
Property and equipment, net 10,636 4,749 10,294
Intangibles 13,392 635 13,678
Goodwill 13,867 — 13,867
Deferred financing fees 341 4,811 402

Deferred taxes — 693 –
——– ——– ——–

Total assets $147,329 $80,386 $168,611
======== ======== ========
Liabilities, redeemable
convertible preferred stock
and stockholders’ equity
(deficit)
Current liabilities:
Accounts payable $21,794 $11,341 $23,206
Accrued liabilities 14,054 10,407 25,100

Bank line of credit 1 9,029 9,884
——– ——– ——–
Total current liabilities 35,849 30,777 58,190
Deferred taxes 1,878 — 3,609
Long term debt — 4,128 –
Long term debt, related party — 63,157 –
Commitments and contingencies
Redeemable convertible
preferred stock — 2,534 –
Stockholders’ equity
(deficit):
Common stock 3 1 3
Treasury stock (43,294) (43,294) (43,294)
Additional paid-in capital 121,041 10,274 119,042
Accumulated other
comprehensive income (loss) (232) — 118

Retained earnings 31,456 12,809 30,339
——– ——– ——–
Total Skullcandy
stockholders’ equity
(deficit) 108,974 (20,210) 106,208
Noncontrolling interests 628 — 604
Total stockholders’ equity
(deficit) 109,602 (20,210) 106,812
——– ——– ——–
Total liabilities, redeemable
convertible preferred stock
and stockholders’ equity
(deficit) $147,329 $80,386 $168,611
======== ======== ========

SKULLCANDY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands of dollars)
(unaudited)

Three Months
Ended

March 31,
—————–

2012 2011
——– ——-
Operating activities
Net income $1,141 $1,079
Adjustments to reconcile net income
to net cash provided by (used in)
operating activities:
Depreciation and amortization 1,302 248
Provision for doubtful accounts 143 519
Deferred income taxes (867) (262)
Noncash interest expense 60 1,159
Stock-based compensation expense 1,601 779
Changes in operating assets and
liabilities:
Accounts receivable 11,346 20,504
Inventories (7,069) (6,307)
Prepaid expenses and other current
assets 3,199 (1,228)
Accounts payable (1,462) (2,116)
Income taxes payable (5,860) 239

Accrued liabilities (5,177) (5,122)
——– ——-
Net cash provided by (used in)
operating activities (1,643) 9,492
Investing activities
Purchase of property and equipment (1,314) (1,030)

Purchase of intangible assets (36) (75)
——– ——-
Net cash used in investing
activities (1,350) (1,105)
Financing activities
Net repayments on bank line of
credit (9,883) (1,773)
Repayment of long-term debt — (7,161)
Proceeds from exercise of stock
options 390 50
——– ——-
Net cash used in financing
activities (9,493) (8,884)
——– ——-
Effect of exchange rate changes on
cash and cash equivalents 97 –
Net decrease in cash and cash
equivalents (12,389) (497)
Cash and cash equivalents,
beginning of period 23,302 6,462
——– ——-
Cash and cash equivalents, end of
period $10,913 $5,965
======== =======
Supplemental cash flow information:
Cash paid for interest 41 821
Cash paid for income tax 6,927 –

SKULLCANDY, INC.
RECONCILIATION OF NET INCOME TO ADJUSTED NET
INCOME
(in thousands of dollars)
(unaudited)

Three months

ended March
31,
————–

2012 2011
—— ——
Net income $1,141 $1,079
Net income attributable to
noncontrolling interests (24) –
Legal and settlement expenses
associated with Monster
litigation, net of tax
benefit (1) 418 –
—— ——

Adjusted net income $1,535 $1,079
====== ======

(1) This item is recorded in selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. It is reflected in the schedule above net of tax benefit of $249 thousand for the three months ended March 31, 2012.

Non-GAAP Measures

Adjusted net income, for the periods presented, represents net income excluding expenses associated with legal expenses associated with the Monster litigation. These expenses relate to one-time legal expenses and management believes they do not correlate to the underlying performance of the business. As a result, the Company believes that adjusted net income provides important additional information for measuring its performance, provides consistency and comparability with the Company’s past financial performance, facilitates period to period comparisons of the Company’s operations, and facilitates comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results. The Company’s management team uses this metric to evaluate the Company’s business and believes it is a measure used frequently by securities analysts and investors. Adjusted net income does not represent, and should not be used as a substitute for net income, as determined in accordance with GAAP. The Company’s definition of adjusted net income may differ from that of other companies.

SKULLCANDY, INC.
RECONCILIATION OF DILUTED NET INCOME PER COMMON SHARE ATTRIBUTABLE TO SKULLCANDY, INC. ON
A GAAP BASIS TO ADJUSTED DILUTED NET INCOME PER SHARE ATTRIBUTABLE TO SKULLCANDY, INC.
(in thousands of dollars)
(unaudited)

Three months

ended March
31,
————-

2012 2011
—— —–
Diluted net income per common share attributable to Skullcandy, Inc. $0.04 $0.05

Legal and settlement expenses associated with Monster litigation 0.01 –
—— —–
Adjusted diluted net income per common share attributable to Skullcandy,
Inc. $0.05 $0.05
====== =====

SKULLCANDY, INC.
RECONCILIATION OF NET INCOME TO EBITDA
AND ADJUSTED EBITDA
(in thousands of dollars)
(unaudited)

Three months
ended March 31,

——————

2012 2011

——– ——–

Net income $ 1,141 $1,079
Net income
attributable to
noncontrolling
interests (24) –
Income taxes 267 852
Interest expense 124 1,998
Other expense (48) (13)
Depreciation and
amortization 1,302 248
——– ——–
EBITDA 2,762 4,164

Legal and settlement
expenses associated
with Monster
litigation 667 –
——– ——–

Adjusted EBITDA $ 3,429 $ 4,164
======== ========

Non-GAAP Measures

EBITDA, for the periods presented, represents net income before interest expense, income taxes, other expenses and depreciation and amortization. Adjusted EBITDA for the three months ended March 31, 2012 gives further effect to the recording of one-time legal expenses associated with the Monster litigation of $667 thousand. These expenses were associated with one-time legal expenses and management believes they do not correlate to the underlying performance of the Company’s business. As a result, the Company believes that adjusted EBITDA provides important additional information for measuring the Company’s performance, provides consistency and comparability with the Company’s past financial performance, facilitates period to period comparisons of the Company’s operations, and facilitates comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results. The Company’s management team uses this metric to evaluate the Company’s business and believes it is a measure used frequently by securities analysts and investors. Adjusted EBITDA does not represent, and should not be used as a substitute for income from operations or net income, as determined in accordance with GAAP. The Company’s definitions of EBITDA and adjusted EBITDA may differ from that of other companies.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Skullcandy, Inc.

CONTACT: Media:
Alecia Pulman/Janet Reinhardt
203-682-8200
Alecia.Pulman@icrinc.com
Investors:
John Rouleau
203-682-8342
John.Rouleau@icrinc.com

Salt Lake City, UT – May 1, 2012 – To show their support, the team from West Family Dental in Murray Utah, will be holding a ‘Best Smile in Utah’ contest from May 1 through May 30, 2012 that aims to put the smile into National Smile Month. By holding the contest on their facebook page, the team hope to raise awareness of how important oral health is. The grand prize is $4000 worth of free dental procedure(s) for the winner’s friend, family member, or themselves.
Dr West from West Family Dental said: “National Smile Month is an excellent opportunity to bring an element of fun to a serious issue.”

“Good oral health is vital for a healthy smile as well as a healthy body, and we’ll be spreading that message on our facebook page via the contest.”

The Foundation’s Chief Executive Dr Nigel Carter said: “I’m delighted that West Family Dental has joined the many schools, colleges, health professionals and other dental practices in engaging with National Smile Month. It is a great reflection of local community spirit and an excellent way to promote good oral health.

“Taking place from May 1 to May 30, the campaign is an ideal opportunity to learn about oral health in a fun and positive way.”

“By making an event as fun and imaginative as possible, we hope it will inspire more people to join in the fun than ever before while delivering the Foundation’s three key messages for good oral health of brush for two minutes twice a day with a fluoride toothpaste, cut down on how often you have sugary foods and drinks and visit the dentist regularly – as often as they recommend.” For more information visit danwestdmd.com and to enter the contest visit facebook.com/bestsmileutah

Media Contact Name Adam Torkildson
Business Phone # 8016029873
Cell Phone # 8016029873
Email adam@customerhook.com
Twitter/Facebook Profile facebook.com/bestsmileutah

Moab, UT – It’ll be a wild ride–run with your best friend, your mom, your daughter, or new friends through the intense, gorgeous landscape of the outlaw heroines’ journey. The inaugural Thelma & Lousie Half Marathon will inspire, challenge…and give back. Proceeds go to two organizations that support women and girls: Girls on the Run and Seekhaven Family Crisis Center. Runners receive short sleeve tech shirt, tote-style race bag, and belt buckle finisher medal!

Moab Half Marathon, Inc., a presenter of premier road races, will present an all-women’s half marathon on May 12th, 2012.

Mother’s Day weekend will be a fitting date for an event that will celebrate how far women have come both on and off the roads. The race was conceived in the spirit of Thelma & Louise, the 1991 award-winning film about two good friends who find themselves on the run—literally and figuratively—and end up in the desert. The downhill point to point course descends from near Canyonlands National Park (a few miles from where the final scenes of the movie were shot) on a scenic highway affording views of sandstone buttes and canyons, snowcapped mountains and Arches National Park. “We wanted a course that evoked the film,” says race director Ranna Bieschke.

While Thelma and Louise had a dusty, hot experience in redrock country, runners can expect considerably kinder treatment. Goodie bags stocked with treats and technical apparel will be given to all participants at the pre-race expo on Friday. Runners will be greeted along the course by enthusiastic volunteers at well-provisioned aid stations and by friends, family and other runners at the finish line. Swag includes softtech race shirts, tote-style race bags, and belt buckle finisher medals.

Just like the leading ladies in the movie, this race has style and substance. Behind the gorgeous landscape and fun, runners will be supporting two organizations that support women in different ways. Girls On The Run seeks to develop confidence and positive self-image in pre-teen girls through running. Seekhaven Family Crisis Center in Moab provides services for victims of domestic violence and sexual assault.

Additionally, the event aspires to be as low-impact as possible. Says Bieschke, “Positively affecting the environment and our community is an important part of our mission.” All waste generated by the event will be sorted into trash, recycle and compost; race bags are sturdy, attractive and reusable; plastic water bottles have been eliminated from the start, course, and finish and replaced with compostable cups.

About Moab Half Marathon, Inc.
Moab Half Marathon presents exceptional events in an exceptional landscape. Our staff and volunteers are committed to facilitating races that are logistically flawless and environmentally sound, and to generate and distribute financial assets to not-for-profit and charitable organizations. Find out more at www.moabhalfmarathon.org