Hot Topic, Inc. Reports 2nd Quarter Financial Results
Within this release, the Company has excluded the following items from its non-GAAP performance measures:
Second quarter of fiscal 2011:– $4.3 million of charges, comprising of $0.2 million in cost of goods sold and $4.1 million in selling, general and administrative expenses, related to the strategic business changes previously announced on March 28, 2011.– $0.2 million net recovery of charges in cost of goods sold related to the implementation of the cost reduction plan previously announced on November 16, 2010.
Year-To-Date (Six months ended July 30, 2011):– $17.2 million of charges, comprising of $6.2 million in cost of goods sold and $11.0 million in selling, general and administrative expenses, related to the strategic business changes previously announced on March 28, 2011.– $0.6 million net recovery of charges, comprising of $0.8 million recovery in cost of goods sold and $0.2 million charge in selling, general and administrative expenses, related to the implementation of the cost reduction plan previously announced on November 16, 2010.
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