Rochester, NY 8/21/2009 9:33:36 AM
Regis Corp. RGS , $27.8 Million Noncash Write-Down Loss as Fiscal 4 Quarter Reports
Regis Corp.
Regis, based in Edina, reported a net loss of $4.6 million, or 11 cents per diluted share, for the quarter ending June 30, compared to a profit of $23.1 million, or 54 cents per share, for the same period last year. Paul Finkelstein Chairman and CEO said that as a result of the difficult economy, they continue to see frugal customer’s whose visitation patterns have lengthened and according to him it is the first time that companys 87 –year history ended this year with negative same-store sales.
The company’s fiscal fourth-quarter results included 70 cents per share in one-time items, including 65 cents in a write-down of its 30 percent ownership interest in Provalliance, a European hair salon company. Excluding the charges, earnings were up to 59 cents per share for the quarter compared to 55 cents per share for fourth-quarter 2008. Analysts polled by Thomson Reuters had expected earnings of 46 cents per share.
About WhisperFromWallStreet
WhisperFromWallStreet.com has a dedicated team uncovering stocks ready to break and run. We apply time tested criteria and when one of these stocks meets or exceeds our benchmarks, our subscribers are immediately notified.
This is a free service available only to subscribers. Scroll to the bottom of this page to signup for free stock alerts and visit our site.
Disclaimer: Full disclaimer at http://WhisperFromWallStreet.com/disclaimer.php
IMPORTANT: Never invest in any stock featured in any press release, email or website unless you can afford the loss of your entire investment. Stocks and particularly penny stocks have the possibility for dramatic gains, and also losses. Neither WhisperfromWallStreet, nor any of its affiliates are registered investment advisors or broker dealers.
