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Quotes & Info
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| MMS > SEC Filings for MMS > Form 8-K/A on 13-Nov-2009 | All Recent SEC Filings |
13-Nov-2009
Other Events
On November 12, 2009, the Company announced, with its earnings release, its decision to sell its ERP division, which had previously been part of the Company's Consulting segment. Beginning in the fourth quarter of fiscal 2009, the Company will classify the results of operations of the ERP division as discontinued operations. As a result of this transaction, the Company has recorded a charge of $1.3 million relating to the write-down of the long-term fixed assets and goodwill of this division.
We are filing this Current Report on Form 8-K on November 12, 2009 to reclassify prior periods' financial information to conform to discontinued operations reporting. The reclassifications have no impact on the previously reported consolidated net income or cash flows of the Company. This information is being provided for informational purposes only.
The Company reports its financial results in accordance with generally accepted accounting principles (GAAP). However, the Company uses certain non-GAAP performance measures including pro forma income before income taxes from continuing operations and pro forma diluted earnings per share from continuing operations to provide both management and investors a more complete understanding of the Company's underlying operational trends and results. The non-GAAP performance measures are reconciled to the corresponding GAAP measures in the schedule titled "Supplemental Pro Forma Income before Income Taxes and Diluted Earnings per Share from Continuing Operations."
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