American Apparel Inc. Reports First Quarter 2013 Financial Results and Reiterates Outlook for Full Year 2013
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Other expense for the first quarter 2013 was $35.6 million as compared with other income of $2.2 million in the prior year quarter. The $37.8 million change in non-operating expenses was primarily the result of an increase in the market value of our outstanding warrants: the unrealized losses on the change in fair value of our warrants were $23.6 million and $0.7 million for the 2013 and 2012 quarters, respectively. Additionally, during the first quarter 2012, we recognized a gain on extinguishment of debt of $11.6 million.
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