Regis Corporation (NYSE: RGS), the global leader in the haircare
industry, whose primary business is owning, operating and franchising
hair salons, announced today that the Company’s Form 10-Q for the
quarter ended September 30, 2012 requires amendment. The Company
determined that $24.0 million of non-cash foreign currency gain related
to the sale of its investment in Provalliance during the three months
ended September 30, 2012 was understated by $9.9 million.
Although this correction does impact the Company’s reported GAAP net
income and earnings per share for the quarter ended September 30, 2012,
it represents a non-cash gain, and has no impact on the Company’s
previously reported operational or non-GAAP net income and operational
earnings per share for the quarter then ended, and has no impact on
total shareholders’ equity as of September 30, 2012. The Company filed a
Form 8-K, Item 4.02, in connection with this amendment.
About Regis Corporation
Regis Corporation (NYSE:RGS) is the
beauty industry’s global leader in beauty salons, hair restoration
centers and cosmetology education. As of September 30, 2012, the Company
owned, franchised or held ownership interests in approximately 10,000
worldwide locations. Regis’ corporate and franchised locations operate
under concepts such as Supercuts, Sassoon Salon, Regis Salons,
MasterCuts, SmartStyle, Cost Cutters, Cool Cuts 4 Kids and Hair Club for
Men and Women. Regis maintains ownership interests in Empire Education
Group in the U.S. and the MY Style concepts in Japan. For additional
information about the company, including a reconciliation of certain
non-GAAP financial information and certain supplemental financial
information, please visit the Investor Information section of the
corporate website at www.regiscorp.com.
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