Smarty - Strange Behavior

gistfile1.tpl

{if $PF_SHOP_CART_HAS_GIFT}
  <PFForm:Hidden name="iGifts" value="{$PF_SHOP_CART_HAS_GIFT}" />
  <h4 class="checkout">Gift Membership(s) Information</h4>
  {section name="gift_memberships" loop=$PF_SHOP_CART_HAS_GIFT}
     <table class="form" cellpadding="2" border="0" width="100%">
       <tr>
        <td align="right" nowrap>
          <label for="sFirst_Gift{$smarty.section.gift_memberships.iteration}"><span class="required">*</span>First Name:</label>
        </td>
        <td align="left">
          <PFForm:String name="sFirst_Gift{$smarty.section.gift_memberships.iteration}" required="yes" size="24" maxlength="64" />
        </td>
        <td>&nbsp;</td>
        <td align="right" nowrap>
          <label for="sLast_Gift{$smarty.section.gift_memberships.iteration}"><span class="required">*</span>Last Name:</label>
        </td>
        <td align="left">
        <PFForm:String name="sLast_Gift{$smarty.section.gift_memberships.iteration}" required="yes" size="24" maxlength="64" />
        </td>
      </tr>
      <tr>
        <td align="right" nowrap>
          <label for="sPhone_Gift{$smarty.section.gift_memberships.iteration}">Phone Number:</label>
        </td>
        <td align="left">
          <PFForm:String name="sPhone_Gift{$smarty.section.gift_memberships.iteration}" size="24" maxlength="20" />
        </td>
        <td>&nbsp;</td>
        <td align="right" nowrap>
          <label for="sEmail_Gift{$smarty.section.gift_memberships.iteration}">Email:</label>
        </td>
        <td align="left">
          <PFForm:String name="sEmail_Gift{$smarty.section.gift_memberships.iteration}" size="24" maxlength="64" />
        </td>
      </tr>
      <tr>
        <td colspan="4">&nbsp;</td>
      </tr>
    </table>
  {/section}
{/if}