Schawk Posts Record-High Net Income
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Net income for the full year of 2009 was positively impacted by the receipt of $9.2 million in cash as part of an indemnity claim settlement in connection with the Company's 2005 acquisition of Seven Worldwide Holdings, Inc., of which $5.0 million was reported as income. The favorable after-tax impact was $0.20 per share for the period ended Dec. 31, 2009. On a non-GAAP basis, adjusting for financial impacts relating to the indemnity claim settlement and certain other items as further detailed in this release, 2010 full-year Adjusted net income was $31.1 million, or $1.20 per diluted share, compared to $23.1 million, or $0.93 per diluted share, during the prior-year period, on a comparable basis.
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