American Apparel Inc. Reports First Quarter 2013 Financial Results and Reiterates Outlook for Full Year 2013
Net loss for the first quarter of 2013 was $46.5 million, or $0.42 per common share, compared to net loss for the first quarter of 2012 of $7.9 million, or $0.07per common share. The 2013 first quarter includes a non-cash/non-operating income statement charge of $23.6 million ($0.22 per common share) associated with an increase in the fair value of outstanding warrants. The 2012 first quarter includes a similar non-cash/non-operating charge of $0.7 million ($0.01 per common share) for the increase in the fair value of such warrants and a non-cash/non-operating gain of $11.6 million on the extinguishment of debt. Excluding these non-cash/non-operating charges from both periods, net loss for the first quarter 2013 would have been $22.9 million, or $0.21 per share, compared to$18.8 million, or $0.18 per share, in the first quarter 2012.
- Companies:
- American Apparel