Joe's Jeans completes purchase of earn-out with accretive transaction Joe's Jeans announced that it has entered into a new agreement with its founder, Joe Dahan, to remove the contingencies related to the contingent consideration payments that were to be made to him. The new agreement fixes the overall amount to be paid to Dahan at $9,168,000 over an accelerated time period. Excluding this charge and the expense paid to date prior to entering into this new agreement, the resulting savings in earn out expense is expected to contribute earnings of 3c per share for the FY13. The Company expects to record the full amount of the buy-out payment in the first quarter of fiscal 2013. Excluding this charge and the expense paid to date, the Company expects the transaction to be 3c accretive to earnings per share for the FY13 with further accretion in 2014 through 2017, the original period for the earn-out.
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