TORONTO, May 29, 2012 /CNW/ - Indigo Books & Music Inc. announces a correction to its press release issued this afternoon at 4:01 pm (Eastern Time), entitled "Indigo Reports Record Net Earnings".
In the table entitled "Consolidated Statements of Earnings (Loss) and Comprehensive Earnings (Loss)" the basic and diluted net loss per common share from continuing operations and the basic and diluted net loss per common share from discontinued operations were inadvertently transposed. The basic and diluted net earnings (loss) per common share from continuing operations should read $(0.47) and not $(0.31) and the basic and diluted net earnings (loss) per common share from discontinued operations should read $(0.31) and not $(0.47).
The corrected table is as follows:
Consolidated Statements of Earnings (Loss) and Comprehensive Earnings (Loss) | |||||
13-week | 13-week | 52-week | 52-week | ||
period ended | period ended | period ended | period ended | ||
March 31, | April 2, | March 31, | April 2, | ||
(thousands of Canadian dollars, except per share data) | 2012 | 2011 | 2012 | 2011 | |
Revenues | 195,879 | 200,160 | 933,990 | 956,449 | |
Cost of sales | 113,889 | 116,393 | 544,924 | 543,008 | |
Gross profit | 81,990 | 83,767 | 389,066 | 413,441 | |
Operating and administrative expenses | 97,710 | 97,577 | 418,701 | 387,927 | |
Operating earnings (loss) | (15,720) | (13,810) | (29,635) | 25,514 | |
Interest on long-term debt and financing charges | 36 | 97 | 153 | 212 | |
Interest income on cash and cash equivalents | (420) | (220) | (460) | (515) | |
Earnings (loss) before income taxes | (15,336) | (13,687) | (29,328) | 25,817 | |
Income tax expense (recovery) | |||||
Current | 71 | 1,214 | 71 | 1,214 | |
Deferred | (4,681) | (3,156) | (1,572) | 10,211 | |
(4,610) | (1,942) | (1,501) | 11,425 | ||
Earnings (loss) and comprehensive earnings (loss) for the period from continuing operations | (10,726) | (11,745) | (27,827) | 14,392 | |
Earnings (loss) and comprehensive earnings (loss) for the period from discontinued operations (net of tax) | 135,695 | (12,625) | 94,016 | (33,776) | |
Net earnings (loss) and comprehensive earnings (loss) for the period | 124,969 | (24,370) | 66,189 | (19,384) | |
Net earnings (loss) and comprehensive earnings (loss) attributable to: | |||||
Shareholders of the Company | 131,527 | (19,441) | 92,664 | (5,742) | |
Non-controlling interest | (6,558) | (4,929) | (26,475) | (13,642) | |
Total net earnings (loss) and comprehensive earnings (loss) for the period | 124,969 | (24,370) | 66,189 | (19,384) | |
Net earnings (loss) per common share from continuing operations | |||||
Basic | $(0.43) | $(0.47) | $(1.10) | $ 0.58 | |
Diluted | $(0.43) | $(0.47) | $(1.10) | $ 0.57 | |
Net earnings (loss) per common share from discontinued operations | |||||
Basic | $ 5.64 | $(0.31) | $ 4.78 | $(0.81) | |
Diluted | $ 5.58 | $(0.31) | $ 4.73 | $(0.81) | |
Net earnings (loss) per common share | |||||
Basic | $ 5.21 | $(0.78) | $ 3.68 | $(0.23) | |
Diluted | $ 5.16 | $(0.78) | $ 3.64 | $(0.23) |
Janet Eger
Vice President, Public Relations
416 342 8561
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