| The company is required to report an additional $1.3 million non-cash adjustment to interest expense for its third quarter ended September 30. The Company also expects to report a $1.2 million non-cash adjustment during the fourth quarter associated with the recent retirement of its remaining structured debt. These amounts represent the incremental number of shares issued multiplied by the share price on the settlement date. This is a non-cash adjustment and has no impact on the Company's base business. In particular, it does not change either historical operating earnings or forward looking statements for the fourth quarter of 2009. As a result of this correction, GAAP pre-tax net loss is now $2.2 million, compared to a GAAP pre-tax net income of $202,000 in the third quarter of 2008. GAAP pre-tax basic/diluted loss per share was ($0.15) for the quarter ended September 30. :theflyonthewall.com |
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