Champion Industries Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2012
January 29, 2013 at 10:33 am EST
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Champion Industries Inc. reported unaudited earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported total revenues of $24,254,000 against $27,908,000 for the same period last year. Net loss from continuing operations was $1,428,000 or $0.13 per basic and diluted share against $5,453,000 or $0.48 per basic and diluted share for the same period last year.
For the year, the company reported total revenues of $104,414,000 against $104,512,000 for the same period last year. Net loss from continuing operations was $23,548,000 or $2.09 per basic and diluted share against $4,226,000 or $0.41 per basic and diluted share for the same period last year. The results for 2012 over 2011 reflected a substantial decrease in earnings, primarily as a result of pre-tax non-cash impairment related charges associated with goodwill of $9.5) million and trade name and masthead in the amount of $1.6 million and an increase in the deferred tax asset valuation allowance of approximately $15.6 million primarily related to taxes associated with continuing operations. The 2012 results were also unfavorably impacted by various costs associated with legal fees and costs and professional fees, resulting in part from provisions related to the various forbearance and credit agreements with the company's secured lenders.
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. 
