Champion Reports Bigger Loss on Lower Revenues in Third Quarter

On a pro forma basis, adjusted for the restructuring charge, the company would have reported net income of approximately $0.4 million for the three months ended July 31, 2010, compared to a pro forma loss of $0.2 million for the three months ended July 31, 2009.

Net loss for the nine months ended July 31, 2010 was $450,000. This compares to a loss of $646,000 for the same period in 2009. On a pro forma basis, adjusted for the restructuring charge, the company would have reported net income of approximately $0.6 million for the nine months ended July 31, 2010, compared to a pro forma loss of $0.5 million for the nine months ended July 31, 2009.