Avis Budget (CAR) to Take $120M Non-Cash Charge in Q4 on Avis Europe Acquisition
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Price: $146.61 +1.83%
Financial Fact:
Basic (in dollars per share): 2.32
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Basic (in dollars per share): 2.32
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Avis Budget Group, Inc. (Nasdaq: CAR) announced today that it plans to report its fourth quarter and full-year 2011 results after the market close on February 15, 2012 and to host a conference call to discuss such results on February 16, 2012 at 9:00 a.m. Eastern time.
Fourth quarter 2011 will be the first reporting period for which the Company has consolidated the results of Avis Europe plc, which the Company acquired on October 3, 2011. In conjunction with the acquisition, the Company expects to record a non-cash charge of approximately $120 million related to the unfavorable license rights reacquired by the Company. This charge is required under generally accepted accounting principles (GAAP).
Fourth quarter 2011 will be the first reporting period for which the Company has consolidated the results of Avis Europe plc, which the Company acquired on October 3, 2011. In conjunction with the acquisition, the Company expects to record a non-cash charge of approximately $120 million related to the unfavorable license rights reacquired by the Company. This charge is required under generally accepted accounting principles (GAAP).
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