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February 8, 2013
09:56 EDTWINAWinmark incurrs impairment charges, Q4 EPS to be negatively impacted by 47c
Winmark announced that it recorded impairment charges relating to its' investments in Tomsten and BridgeFunds. The impact to Winmark's financial statements includes a $1.8M reduction to the carrying value of Winmark's investment in Archiver's; a $700,000 reduction to the carrying value of Winmark's investment in BridgeFunds; a reduction of Winmark's equity of $2.5M; a reduction of pre-tax income of $2.5M for the quarter ended December 29, 2012. The charges will negatively impact earnings per share by approximately 47c per share for the quarter. After these non-cash impairment charges, Winmark no longer has any carrying value for either of these investments.
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