On a GAAP basis, the Company reported a net loss of $55.6 million or $3.39 per diluted share, compared to reported net income of $2.6 million or $0.16 per diluted share for the same period of fiscal 2012. The results for the nine months ended December 31, 2012 were impacted by the previously described goodwill impairment charge of $78.6 million ($56.8 million after income tax benefit) and $1.1 million of professional fees ($0.7 million after income tax benefit) related to our renegotiated credit agreement. The results for the same period of fiscal 2012 benefitted from the aforementioned bonus accrual reduction of $1.8 million, net of applicable taxes, and an extraordinary gain of $0.4 million, net of applicable taxes, resulting from an insurance settlement associated with damaged inventories.On a non-GAAP basis, the Company generated non-GAAP net income (before a goodwill impairment charge and certain professional fees) of $2.0 million (1)or $0.12 (1) per diluted share for the nine months ended December 31, 2012 compared to non-GAAP net income (before bonus accrual reversal and extraordinary gain) of $0.4 million (1) or $0.03 (1) per diluted share for the first nine months of fiscal 2012. EBITDA, as adjusted, for the nine months ended December 31, 2012 was $14.1 million (2) compared to $12.2 million (2) for the first nine months of fiscal 2012.
Medical Action Industries Reports Third Quarter Fiscal 2013 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts