Harris Interactive® (NASDAQ:HPOL) reported its final pre-tax goodwill impairment charge in its annual report filed today with the SEC.
For its fiscal year ended June 30, 2008, the Company conducted its annual impairment evaluation using a discounted cash-flow analysis to compare the fair market value of its single reporting unit to its carrying value. Since the carrying amount exceeded the fair value, the second step of the impairment evaluation was undertaken to calculate impairment. Based upon a preliminary valuation, the Company reported an estimated $123.0 million goodwill impairment charge in its media release issued on August 22, 2008. After completing its valuation, the Company recorded a final pre-tax goodwill impairment charge of $86.5 million as reported in its annual report filed on Form 10-K with the SEC on September 15, 2008. Finalizing the goodwill impairment charge resulted in a change in the diluted net loss per share for the fiscal year ended June 30, 2008 from $(2.27) to $(1.60), and from $(2.28) to $(1.61) for the three months ended June 30, 2008.
About Harris Interactive
Harris Interactive is a global leader in custom market research. With a long and rich history in multimodal research, powered by our science and technology, we assist clients in achieving business results. Harris Interactive serves clients globally through our North American, European and Asian offices and a network of independent market research firms. For more information, please visit http://www.harrisinteractive.com/.
Contacts:
Dan Hucko, 585-214-7470
SVP, Corporate
Communications – Investor Relations
800-866-7655
x7470
dhucko@harrisinteractive.com
