extraordinary items

Extraordinary Item

A large gain or loss in a company's earnings due to a non-recurring event that is out of the company's control. For example, a water distribution company may have unusually high earnings from sales because a natural disaster required relief organizations to purchase large quantities of clean water. On the other hand, it may have low earnings from sales because all the relief organizations had previously stocked up on water and did not need to buy any more. Extraordinary items are reported separately from the company's other financial statements so as to give a clearer picture of how the company is actually performing. Publicly-traded companies must report extraordinary items to shareholders in quarterly and annual reports and explain why they do not constitute a substantial increase or decrease in the company's health.

extraordinary items

non-recurring items of expense or revenue which do not arise in the normal course of trading; for example, losses associated with a major reorganization of a company division which involves significant sales of assets. Such losses would be deducted directly from the company's RESERVES below the line rather than being charges against the profits of the trading period, to avoid affecting the results of routine trading operations with one-off non-trading losses.
References in periodicals archive ?
9 million in write-offs (loss on impairment of assets) and extraordinary items, resulted in a fourth quarter 1995 loss of $21.
For this same period last year the Company reported net income before extraordinary items of $548,000, or $0.
Earnings before extraordinary items for the quarter amounted to $3,790,000 ($0.
On a per share basis, fourth quarter earnings before extraordinary items were $.
45% before and after extraordinary items, respectively for the three month period in 1997 as compared to 12.
09 per share after one time charges, extraordinary items and preferred dividends for the fiscal year ending Jan.
Consolidated Condensed Statements of Operations (000s except per-share data) (Unaudited) Three Months Ended June 30, 1997 1996 Revenues $3,967 $9,952 Expenses 3,800 9,119 Income before provisions for taxes and extraordinary items 167 833 Provision for taxes 50 32 Income before extraordinary item 117 801 Extraordinary item 288 -- Net income $405 $801 Net income per common share before extraordinary item $0.
A) -- Earnings before interest, taxes, depreciation, amortization, pension costs, restructuring costs and extraordinary items.
For the fiscal year ended April 2, 1994, earnings before extraordinary items and accounting change were $3,457,000, or $.
For the year ended 31st March, 1998, both the audited net profit of AUK before and after taxation and extraordinary items amounted to 34,000 Pound Sterling (approximately HK$428,000).
On a comparative base of average common shares outstanding, pro forma earnings before extraordinary items per common share for the first quarter of fiscal 1994, computed as if the IPO and applications of net proceeds therefrom and refinancings had occurred on August 1, 1993, would have been $0.
and extraordinary items 55,781,000 36,862,000 Non-recurring charges (net of tax) 81,770,000 --

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