Seatrade Cruise News is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Steiner Leisure swings to loss on impairment charges

Steiner Leisure swings to loss on impairment charges
Spa provider Steiner Leisure swung to a fourth quarter loss of $185.8m, or $14.01 per share, on impairment charges of $212.4m related to its Ideal Image and schools units and an associated income tax benefit of $14.5m. Revenues decreased 1.4% to $217.8m from $221m a year ago.

Excluding the impairment charges and related tax benefit, Q4 profit was $12m.

In Q4 2013, Steiner posted a $13m profit, or 88 cents per share.

Net loss for the year was $158.1m, or $11.26 per share, compared to the $49.4m profit, or $3.34 per share, in 2013. Revenues for the year rose 1% to $863.5m from $855.5m in 2013.

Excluding the impairment charges and related tax benefit, the 2014 profit was $39.7m.

Steiner's board authorized a new share repurchase plan for up to $100m.

During the quarter, the company served an average of 144 cruise ships, down from 152 a year ago. Revenue per staff day was $398, up from $386.

 

TAGS: financial