Under Armour's Sales Up 34% In FY Q2 Carmelo Gets Into Venture-Capital Industry Financials Detail Importance Of ESPN To Disney Nike Sees Q4 Profit Rise 5% Based On Soccer PokerStars Owner Set To Sell Company For $4.9B Bauer To List Shares On NYSE Under New Name Callaway Growing Global Brand In '14 WWE In Flux After TV Strategy Backfires Corbis Buys WSM Communications Stephen Ross Could Acquire YinzCam
Upcoming Conferences and Events
Centerplate Continues Search For Buyer, Reports $10M Net Loss
Published August 7, 2008
SECOND QUARTER NUMBERS: Centerplate reported a net sales increase of $37.5M for Q2 compared with the same period in '07, primarily due to the opening of Nationals Park in DC, a Centerplate account. The company reported a net loss of $10.1M, compared with a loss of $5.8M in Q2 '07, a decline due in part to the $3.3M in fees associated with amendments to the firm's credit agreement and higher interest expense. If a buyer is not found by October, Centerplate will need to secure a further amendment to its credit facility to continue paying interest on the bond portion of its income deposit security stock, which combines common stock with a bond. The company quit paying stock dividends in June.