This excerpt taken from the DDRX 8-K filed Oct 14, 2008.
Diedrich Coffee Reports Fiscal 2008 Results
Irvine, California, October 8, 2008 Diedrich Coffee, Inc. (NASDAQ:DDRX) today announced operating results for its fiscal year ended June 25, 2008. For the fiscal year 2008, after recording a non-cash charge for goodwill and asset impairment, the Company reported a net loss of $13,776,000, or $2.52 loss per share, compared to a net loss of $1,765,000, or $0.33 loss per share, in fiscal year 2007. Including the impairment adjustments, the net loss in the fourth quarter of fiscal year 2008 was $10,194,000, or $1.86 loss per share, compared to a net loss of $2,344,000, or $0.42 loss per share, for the fourth quarter of fiscal 2007.
Results from the fiscal year 2008 include a non-cash charge of $7,161,000, or $1.31 loss per share, and include an impairment of $6,832,000 of the Companys goodwill associated with the 1999 acquisition of Coffee People, Inc., and an asset impairment charge of $329,000 related to Gloria Jeans retail stores. Results from fiscal year 2008 also include an after-tax gain of $771,000, or $0.14 per share, from escrow proceeds received in the first quarter of fiscal year 2008 from the sale of the majority of the Companys Diedrich Coffee and Coffee People company-operated locations in the prior fiscal year. Results from the fiscal year 2007 include net income from Discontinued Operations of $1,984,000, or $0.37 per share.