Champion Industries Posts a Net Loss for Its Third Quarter

Marshall T. Reynolds, chairman of the board and CEO of Champion, said, “Our first nine months of 2012 were negatively impacted by two charges associated with certain non-cash events. When we step back and look at the fundamental operations of the company, we have grown sales for the year to date period to $80.2 million from $76.6 million in the previous year, or 4.6 percent, and when we look at the third quarter of 2012 compared to the prior year, we have grown sales 2.9 percent. We believe this is indicative of our ability to successfully operate our businesses while devoting substantial efforts, funds and resources to identify an appropriate deleveraging path with our secured lenders.