Champion reports third-quarter loss - Beckley, Bluefield & Lewisburg News, Weather, Sports

Champion reports third-quarter loss

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • 5 Arrested after Shots Fired in Princeton

    5 Arrested after Shots Fired in Princeton

    Wednesday, August 20 2014 11:34 PM EDT2014-08-21 03:34:52 GMT
    Shots fired in PrincetonShots fired in Princeton
    Several people are arrested on Wednesday night, after dozens of shots are fired on Courthouse Road near Crestview Drive in Princeton.
    Several people are arrested on Wednesday night, after dozens of shots are fired on Courthouse Road near Crestview Drive in Princeton.
  • Suspect Connected to Murder Investigation is Captured

    Suspect Connected to Murder Investigation is Captured

    Wednesday, August 20 2014 6:49 PM EDT2014-08-20 22:49:27 GMT
    Murder Suspect Desean Farley CapturedMurder Suspect Desean Farley Captured
    Desean Farley, a suspect in a Beckley murder investigation, was captured by the U.S. Marshal Service in Wisconsin. Farley s believed to be the man who shot and killed a person at Willbrian Apartments on Saturday, July 12, 2014.
    Desean Farley, a suspect in a Beckley murder investigation, was captured by the U.S. Marshal Service in Wisconsin. Farley s believed to be the man who shot and killed a person at Willbrian Apartments on Saturday, July 12, 2014.
  • How to avoid the back-to-school plagues

    How to avoid the back-to-school plagues

    Wednesday, August 20 2014 6:43 PM EDT2014-08-20 22:43:26 GMT
    During the school year children seem to bring home every type of illness, but there are a few things you can do to prevent your child from catching all those pesky illnesses.Washing hands is the universal way to avoid the spread of germs but there are a few ways you can prevent your child from getting sick when they come in contact with those germs.
    During the school year children seem to bring home every type of illness, but there are a few things you can do to prevent your child from catching all those pesky illnesses.Washing hands is the universal way to avoid the spread of germs but there are a few ways you can prevent your child from getting sick when they come in contact with those germs.

HUNTINGTON, WV — Champion Industries on Aug. 13 reported a third quarter 2013 net loss from continuing operations of $1.3 million, compared to $1.5 million a year ago. The company reported net income from discontinued operations for the quarters ended July 31, 2013 and 2012, of $216,000 and $920,000, respectively.

Net loss from continuing operations for the nine months ended July 31 was $5.6 million, up from a loss of $13.9 million last year.

"We have expended considerable effort to effectuate the myriad of restructuring and asset sales activities required by our Secured Lenders and feel we have substantially accomplished our goals and requirements in this regard," Marshall T. Reynolds, Champion chairman and CEO, said in the earnings release.

"We intend to work with our secured creditors and advisors to address our debt maturities and liquidity to the best of our ability and, if successful, in stabilizing our funding platform going forward, we believe our core business has the opportunity to improve."