Schawk Shares Tumble On Losses

The company also reported goodwill impairment charges of $48 million during the quarter and $5.3 million in charges related to acquisition, integration and restructuring expenses, among other charges.

Schawk also amended its debt agreements with bank groups and private lenders, the company said.

Robert W. Baird & Co. analyst Craig R. Kennison wrote in a note that the new agreement reduces the firm's capacity and regulates financing and investing activities, but raises the company's leverage ratio for the next several quarters.

Still, he wrote that "we continue to advise investors to avoid the stock," due to a previously announced Securities and Exchange Commission investigation related to restatements of the company's 2005 to 2007 financial results and unknown first-quarter 2009 results.

Schawk officials did not immediately respond to requests seeking comment.

For the full year, Schawk's earnings fell to a loss of $60 million, or $2.24 cents a share, compared with net income of $30.6 million, or $1.10 a share, in the prior year.

Shares fell 43 cents, or 5.5 percent, to $7.41 in afternoon trading.