Champion Industries Inc. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended April 30, 2013
June 14, 2013 at 04:00 pm EDT
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Champion Industries Inc. announced unaudited earnings results for the second quarter and six months ended April 30, 2013. For the quarter, the company reported total revenues continuing operations of $21,784,000 against $27,294,000 a year ago. Net loss from continuing operations was $724,000 against $21,041,000 a year ago. Net loss was $825,000 against $21,016,000 a year ago. Basic and diluted net loss from continuing operations was $0.06 against $1.86 a year ago. Basic and diluted total loss per common share was $0.07 against $1.86 a year ago.
For the six months, the company reported total revenues continuing operations of $44,394,000 against $53,819,000 a year ago. Net loss from continuing operations was $3,968,000 against $21,124,000 a year ago. Net loss was $4,366,000 against $21,102,000 a year ago. Basic and diluted net loss from continuing operations was $0.35 against $1.87 a year ago. Basic and diluted total loss per common share was $0.39 against $1.87 a year ago. The results for fiscal year to date 2013 over 2012 reflected a substantial improvement, primarily as a result of pre-tax non-cash impairment charges associated with goodwill of $9.5 million associated with the newspaper segment in the second quarter of 2012 and an increase in the deferred tax asset valuation allowance of $15.2 million in the second quarter of 2012. At April 30, 2013, the company had approximately $36.5 million of interest bearing debt, of which $33.7 million is syndicated (both totals net of unamortized debt discount of $0.3 million).
Champion Industries, Inc. is a business solutions provider. The Company provides solutions in commercial printing, business forms manufacturing, office products, office furniture supply, and mailing solutions. Its two lines of business segments are commercial printing; and office products, office furniture and office design. It offers warehousing and fulfillment of prints and supplies goods in regional markets of the Mississippi River. Its printing services include business cards, books, tags, labels, brochures, posters, multi-part, continuous and snap-out business forms. Its office products, office furniture and office design segment provide a range of product offerings in two categories, which include supplies, such as file folders, paper products, pens and pencils, computer paper and laser cartridges, and furniture, including budget and middle price range desks, chairs, file cabinets and computer furniture. Its promotional products include apparel, bags, drinkware, and others.
CHAMPION INDUSTRIES, INC. 
