According to the company, the non-cash charges
will not affect its 2013 adjusted financial results; however, 2013 reported GAAP earnings per share are now expected to be lower than the prior outlook of USD0.
In addition to the non-cash charges
Hydro would recognise unrealised losses of NOK1.
The net result of the restatement of the Company's interim statements for the quarter ended June 30, 2006 is the recording of a non-cash charge
of $78,000 to interest expense resulting in an increase in the net loss of $78,000, an increase in the basic and diluted loss per share of $(0.
The non-cash charge
includes deferred tax assets as of the beginning of the year and income tax benefits recorded during fiscal 2006.
As part of its focus on improved profitability and long-term growth, DFA closed two cheese plants in 2007, resulting in the one-time, non-cash charges
68 per share was the result of consolidated non-cash charges
, compared with a consolidated per share loss of $0.
The Company believes this presentation provides investors and LeCroy management with additional insight into its underlying results because of the materiality of certain significant non-cash charges
related to LeCroy's October 29, 2004 acquisition of Computer Access Technology Corporation ("CATC"), certain significant non-cash charges
related to LeCroy's October 3, 2006 acquisition of Catalyst Enterprises, Inc.
23 per share was the result of non-cash charges
The Company also announced at that time that, due solely to its expectation that it would recognize non-cash charges
for stock-based compensation expense that were likely to be material for certain periods covered in the review, the Company's financial statements and earnings releases for the years ended 1994 - 2005 and the interim quarters through September 30, 2006, as well as the related reports of the Company's independent registered public accounting firm, should no longer be relied upon.
04 per share, including $11,681,000 in non-cash charges
-- $13,256,000 in deferred financing costs associated with the $100 million SEDA and $4,948,000 in stock based compensation, which were offset by a net gain of $6,523,000 on transactions related to derivative financial instruments issued in connection with Series C convertible stock and convertible debenture financings completed during the year.
At this time, and based on the preliminary analysis available, the Company expects to record non-cash charges
for stock based compensation expense of approximately $24 million.
As such, additional non-cash charges
for stock-based compensation related to these grants may need to be recorded.