GVHR » Topics » Item 2.06. Material Impairments.

This excerpt taken from the GVHR 8-K filed Feb 26, 2008.

Item 2.06. Material Impairments.

On February 25, 2008, the Company's management determined, in consultation with the Board, that a charge for impairment was required under relevant accounting principles with respect to the Company’s valuation of goodwill, intangibles and fixed assets associated with the Company's February 2007 acquisition of HRAmerica's client portfolio and service platform. The Company will record a non-cash charge of $8.5 million, or $0.22 per diluted share, in the fourth quarter of 2007 related to the impairment of goodwill, intangibles and fixed assets associated with the acquisition.

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