LMI Aerospace Posts Q4 Loss On Charges - Quick Facts

(RTTNews) - LMI Aerospace, Inc. (LMIA) reported a fourth-quarter net loss of $67.1 million, or $5.31 per share, compared to net income of $1.0 million, or $0.08 per share, in the fourth quarter of 2012. The company noted that its fourth-quarter 2013 results included several unusual items, including a $73.5 million charge related to goodwill impairment at Valent, a $17.6 million income tax charge for a valuation allowance and $3.1 million in charges for previously announced restructuring activities.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.04 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $96.4 million, compared to $71.9 million in the fourth quarter of 2012. Analysts expected revenue of $104.47 million for the quarter.

The company withdrew its previously issued 2014 guidance, and said will suspend providing annual guidance.