Regis Corporation (NYSE: RGS), the global leader in the haircare industry, whose primary business is owning, operating and franchising hair salons, announced today that the Company’s Form 10-Q for the quarter ended September 30, 2012 requires amendment. The Company determined that $24.0 million of non-cash foreign currency gain related to the sale of its investment in Provalliance during the three months ended September 30, 2012 was understated by $9.9 million.
Although this correction does impact the Company’s reported GAAP net income and earnings per share for the quarter ended September 30, 2012, it represents a non-cash gain, and has no impact on the Company’s previously reported operational or non-GAAP net income and operational earnings per share for the quarter then ended, and has no impact on total shareholders’ equity as of September 30, 2012. The Company filed a Form 8-K, Item 4.02, in connection with this amendment.
About Regis CorporationRegis Corporation (NYSE:RGS) is the beauty industry’s global leader in beauty salons, hair restoration centers and cosmetology education. As of September 30, 2012, the Company owned, franchised or held ownership interests in approximately 10,000 worldwide locations. Regis’ corporate and franchised locations operate under concepts such as Supercuts, Sassoon Salon, Regis Salons, MasterCuts, SmartStyle, Cost Cutters, Cool Cuts 4 Kids and Hair Club for Men and Women. Regis maintains ownership interests in Empire Education Group in the U.S. and the MY Style concepts in Japan. For additional information about the company, including a reconciliation of certain non-GAAP financial information and certain supplemental financial information, please visit the Investor Information section of the corporate website at
www.regiscorp.com. To join Regis Corporation’s email alert list, click on this link:
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV