Or lack thereof, wow. There goes a bunch of that newly acquired cash.
stock appears to be lower in afterhours, but on no real volume. tomorrow should be an interesting day. we may hang unchanged by the time the conference call is over.
Not as bad as it appears. Read the fine print:
1) September 30, 2013 included $11.6 million ($0.11 per diluted share) of non-cash asset impairment charges primarily related to a $10.7 million Le Cordon Bleu trade name impairment.
2) The $87.1 million net loss for the third quarter of 2013 included a $39.9 million ($0.60 per diluted share) discrete tax expense related to unremitted earnings of our foreign entities.
11.6 + 39.9 = 51.5 Million of the 87.1 million loss
Burning cash faster than I anticipated! Struggling to reduce expenses as quickly as revenue is falling. Management needs to put a positive spin on things during tomorrow's call (without making forward looking statements, of course).