DMC expects to record $15M to $20M in non-cash charges
associated with the closure during the second half of 2019.
The firm posted loss attributable to shareholders at USD24.4m in the second quarter ended June 30, 2018, mainly due to several significant non-cash charges
tax reform, gains on asset sales of $1.44 billion, and impairments and other non-cash charges
of $840 million.
Excluding these non-cash charges
, adjusted net income was USD 12.1 million, or USD 0.35 per diluted share.
The first quarter 2017 results included USD 0.8m of non-cash income tax benefit, USD 8.9m of non-cash charges
for depreciation, amortization and compensation, USD 1.6m of amortization of retention and forgivable loans and USD 0.5m of interest expense.
The firm posted recorded GAAP net loss for the quarter at USD0.12 per share, which includes one-time non-cash charges
of around USD0.09 per share, compared to a net loss of USD0.30 for the year-ago period.
Excluding non-cash charges
, non-GAAP Software segment gross margin was 71 percent for the second quarter of 2015, versus 72 percent in the second quarter of 2014.
The EMS company will take charges of $5.5 million to $7.5 million as result, $2.5 million to $3.1 million in cash for severance and retention bonuses, $2.7 million to $3.7 million in non-cash charges
for asset impairment, and approximately $300,000 to $700,000 in cash payments for relocation and transition costs.
(1) See definition of earnings before non-cash charges
, a non-GAAP financial measure, and a reconciliation of net income to earnings before non-cash charges
"Net income was 5 cents a share before non-cash charges
. The company's fourth quarter 2008 loss per share of $1.19 included non-cash charges
triggered by the current equity market, including our own market capitalization, and general economic conditions."
Wednesday reported its fourth-quarter earnings from continuing operations fell 48% on write-downs on severance costs and non-cash charges
on the value of the International Herald Tribune and New England papers, including its stake in the free Boston Metro daily.