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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