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TheStreet Open House

Moduslink Global Solutions Concludes Restatement Process

Stock quotes in this article: MLNK

Operating loss for the third quarter of fiscal 2012 was $11.0 million, compared to operating loss of $2.2 million in the third quarter of fiscal 2011.

Other income for the third quarter of fiscal 2012 was $3.7 million, compared to $5.1 million in the third quarter of fiscal 2011. Other income for the third quarter of fiscal 2012 included a $2.8 million impairment charge associated with the Company’s @Ventures portfolio, which was offset by a gain of $7.5 million as a result of the derecognition of accrued pricing liabilities. Other income for the third quarter of fiscal 2011 included foreign exchange transaction losses of $1.5 million, offset by a gain of $7.2 million as a result of the derecognition of accrued pricing liabilities.

Net loss for the third quarter of fiscal 2012 was $6.1 million, or $(0.14) per share, compared to net income of $1.5 million, or $0.03 per share, for the same period in fiscal 2011.

Excluding net charges related to depreciation, amortization of intangible assets, impairment of goodwill and intangible assets, share-based compensation, and restructuring, the Company reported a non-GAAP operating loss of $4.2 million for the third quarter of fiscal 2012, compared to non-GAAP operating income of $3.7 million for the same period in fiscal 2011.

Conference Call Information

ModusLink Global Solutions, Inc. will hold a conference call to discuss today’s announcement at 5:00 p.m. ET on January 14, 2013. To access the conference call, please dial (877) 212-4894 from the United States or (312) 429-0467 for international access.

A live webcast of the call will be available on the Investor Relations section of the Company’s web site, www.ir.moduslink.com. To listen to the live call, go to the web site at least 15 minutes prior to the start time to download and install the necessary audio software.

For those who cannot listen to the live broadcast, a replay of the call will be available from January 14, 2013 at 7:00 p.m. until January 21, 2013 at 5:00 p.m. The replay can be accessed by dialing (800) 633-8284 or (402) 977-9140, using access code 21645682.

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