- Sales of $506.2 million, a decrease of 3.8 %. Same-store sales declined 1.9%.
- GAAP net loss of $12.3 million. GAAP net loss including discontinued operations per diluted share (Diluted EPS) of $0.22.
- Diluted EPS, as adjusted, of $0.03 compared to $0.27.
- Current year earnings were reduced by approximately $0.05 per share, representing increased labor costs, primarily associated with increased stylist hours, impacts of Hurricane Sandy and reduced equity in earnings of Empire Education Group, partly offset by reductions in general & administrative expenses.
- Prior year earnings were increased by $0.10 per share, representing equity in earnings of Provalliance (sold in the current year first quarter) and tax benefits primarily from the realization of employment tax credits.
- EBITDA, as adjusted, of $31.1 million compared to $43.7 million.
- Current year was reduced by approximately $8.9 million due to increased labor costs, primarily associated with increased stylist hours and impacts of Hurricane Sandy.
- Current year was improved by $6.1 million of reductions in general and administrative expenses, as adjusted, representing an 80 basis point decline as a percentage of revenues.
- The current year quarter includes net discrete after-tax expense of $14.0 million, primarily related to impairment of our investment in Empire Education Group, partly offset by earnings from discontinued operations. The prior year quarter includes $73.8 million of net discrete after-tax expense.
- All periods presented reflect the reclassification of our Hair Restoration segment to discontinued operations. During the current quarter, the Hair Restoration segment generated earnings of $0.07 per diluted share.
Regis Reports Second Quarter 2013 Results
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