The improvement in Alabama bingo revenue and income is a welcome addition but it is offset by the writeoff
of bad debt associated primarily with Texas bingo halls.
EBITDA for the 2000 quarter excludes the debt refinancing cost writeoff
Excluding the noncash charges for goodwill impairment and debt cost writeoff
, and the effect of divested units not included in discontinued operations, net income from ongoing operations was $2,126,000 or $0.
In addition, it will reduce certain non cash charges to the income statement due to the writeoff
of debt discount and deferred financing costs which were approximately $1.
Later that day, while reviewing the analytical procedures, I noticed that the accounts receivable writeoff
percentages at the branch location were much higher than those of the main store.
Hallman said, "Equifax's operating income margin, before the asset writeoff
, for the second quarter was 16.
Although CATIC's operating revenue in 2002 was solid due to a favorable residential real estate market climate and continued low interest rates, operating income was depressed by the escrow discrepancy writeoff
Depending on grouping, unrealized gains of some assets could offset unrealized losses of others, resulting in no required writeoff
The Company's gross margin for the quarter was 66%, compared to 57% for the second quarter of 2001 (excluding writeoffs
as detailed in the Company's 2001 reports).
The Task Force also reached a consensus that a writeoff
of a preexisting deferred tax asset that an entity can no longer realize as a result of a transaction among or with its shareholders similarly should be charged to the income statement.
s vice president and controller said the charge is to provide for the writeoff
of goodwill capitalized as a result of the merger of VCS Industries, Inc.
Footnote To Condensed Consolidated Statements of Operations (Thousands except per share amounts) (Unaudited) (A) Proforma diluted net income (loss) per share calculations exclude the financial statement impact of the writeoff
of purchased research and development related to the acquisition of Elastic Networks, Inc.