This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Intermec Reports Preliminary First Quarter 2012 Results

Intermec, Inc. (NYSE:IN) today announced preliminary financial results for its first quarter ended April 1, 2012.

First quarter 2012 revenues were $179.7 million, with preliminary net (loss) on a GAAP basis of ($16.4) million or ($0.27) per diluted share. That compares to 2011 first quarter revenues of $178.5 million and net loss on a GAAP basis of ($6.1) million or ($0.10) per diluted share. Excluding acquisition-related costs and other adjustments totaling $3.7 million (detailed below), the Adjusted Non-GAAP operating loss for the quarter was $($12.7) million or ($0.21) per diluted share, as compared with Non-GAAP operating loss of ($0.1) million or ($0.01) per diluted share, for the 2011 quarter.

The following table presents the Company’s preliminary GAAP operating income (loss), net earnings (loss) and earnings (loss) per share reported for the first quarters of 2012 and 2011, and as adjusted excluding the impact of restructuring costs, acquisition-related costs and acquisition-related accounting adjustments:

                           
PRELIMINARY
INTERMEC, INC.
RECONCILIATION OF GAAP TO NON-GAAP OPERATING INCOME,
NET EARNINGS AND EARNINGS PER SHARE
(In millions, except per share amounts)
(Unaudited)
 
Quarter Ended April 1, 2012 Quarter Ended April 3, 2011
Operating Net earnings

Earnings (loss) per

Operating

Net earnings Earnings (loss)
Income (loss) (loss)

share

Income (loss)

(loss) per share
 
Loss as reported $ (18.6 ) $ (16.4 ) $ (0.27 ) $ (8.6 ) $ (6.1 ) $ (0.10 )
Acquisition related adjustments 4.8 3.0 0.05 7.8 5.7 0.09
Income taxes - increase in valuation allowance   -     0.7     0.01     -     0.3     -  
Non-GAAP loss as adjusted $ (13.8 ) $ (12.7 ) $ (0.21 ) $ (0.8 ) $ (0.1 ) $ (0.01 )
 

The acquisition-related adjustments reflect amortization of acquisition intangibles of $4.8 million related to acquisitions closed in March 2011. Adjusted operating income for the first quarter of 2012 was ($13.8) million and adjusted net loss was ($0.21) per share as described in the Non-GAAP Financial Measures section of this release.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs