Gross profit for the fourth quarter of 2012 was $21.3 million, or 21.8% of revenue, compared to $24.2 million, or 21.8% of revenue in the fourth quarter of 2011. The lower gross profit dollars primarily reflect the lower automotive revenue above and increased costs in the industrial segment.
The Company recorded a fourth quarter 2012 non-cash goodwill and asset impairment charge of $22.0 million, comprised of a goodwill impairment of $9.9 million and a write-down of long-lived assets of $12.1 million relating to the US Automotive and AFS operations. Operating loss for the fourth quarter of 2012 totaled $20.8 million, or 21.2% of revenue, compared to operating income of $0.7 million, or 0.7% of revenue in the fourth quarter of 2011; excluding the abovementioned non-cash charge, the Company recorded fourth quarter 2012 operating income of $1.3 million, or 1.3% of revenue.
Adjusted EBITDA for the fourth quarter of 2012 was $3.1 million, or 3.2% of revenue, compared to $5.4 million, or 4.8% of revenue in the fourth quarter of 2011, primarily reflecting the abovementioned automotive revenue and industrial cost variances. Adjusted EBITDA is a non-GAAP measure. See "Non-GAAP Measures" below for a discussion of this metric.
Net loss for the fourth quarter of 2012 was $21.0 million, or $1.05 per diluted share, compared to net income of $1.4 million, or $0.07 per diluted share, in the fourth quarter of 2011; excluding the abovementioned non-cash charge and its associated tax benefit of $ 0.9 million, the Company recorded fourth quarter 2012 net income of $0.2 million or $0.01 per diluted share.A table presenting historical reclassified operating segment data can be found in the tables contained at the end of this release. FSS Automotive Operations FSS Automotive fourth quarter 2012 revenue was $68.2 million, compared to $81.7 million from the same quarter a year ago. The impact of foreign exchange on FSS Automotive was a negative $2.5 million; in constant currency, fourth quarter FSS Automotive revenue decreased 13.5%, reflecting decreases in the US automotive and Latin America markets. FSS Automotive fourth quarter 2012 operating loss was $16.2 million, including $16.4 of the non-cash goodwill and asset impairment charge, compared to an operating loss of $1.9 million in the same period a year ago. FSS Automotive fourth quarter 2012 Adjusted EBITDA was $2.0 million, compared to $2.3 million a year ago.
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