Results included a $66.4 million charge for amortization of excess reorganization value and a $3.3 million charge related to early retirement of debt
. In the prior-year period the retailer recorded a net loss of $48.5 million, burdened by $66.3 million in amortization of excess reorganization value that was only partially offset by a $7.4 million credit for reorganization items.
Including the $618,000 gain from the early retirement of debt
Pharmhouse registered a $518,000 net loss in the prior-year period.
Early retirement of debt
pulled down HSI's earnings for 1992.
These notes have a fixed conversion price of USD0.52 per share and upon retirement of debt
and payment of certain expenses associated with the closing of the second tranche, the net proceeds to Cytomedix were approximately USD22.1m.
In last year's third quarter Kroger had net earnings of $14.5 million, despite a $2.08 million extraordinary loss on the retirement of debt
M2 EQUITYBITES-January 29, 2014-3DIcon announces retirement of debt
The reduced deficit reflected a $16.6 million net gain realized earlier in the year on early retirement of debt
, a 7.4% decrease in interest expenses to $168.2 million and the third quarter gain.
These factors were partially negated by an extraordinary loss related to the early retirement of debt
, which net of the income tax benefit pinched Safeway's bottom line by $12.7 million.
Also, Q1 GAAP EPS is expected to be approximately USD0.28 lower than adjusted EPS, as a result of losses, recognised in interest expense, related to the early retirement of debt
of approximately USD445m, or USD0.41 per share; expected EPS dilution related to the Canadian Segment of approximately USD0.23 and net accounting gains of approximately USD0.36 associated with the sale of Target's entire consumer credit card receivables portfolio to TD Bank Group.
The half-year net loss was cut to $5.29 million, thanks to a $16.6 million extraordinary gain on early retirement of debt
that was taken in the first quarter.
Nara intends to use the net proceeds of this offering for general corporate purposes, including enhancement of its capital position to support the pending merger with Center Financial Corporation, supporting internal growth in its banking business, funding working capital requirements and the possible retirement of debt
, preferred stock or other securities.
(*)Net income was reduced by $1.24 million extraordinary charge related to early retirement of debt
. (**)CDR estimate.