Chuck Taylor | firstname.lastname@example.org
Published: Thursday, May 17, 2012, 3:14 p.m.
Everett-based Intermec reports wider loss
Everett-based Intermec (IN) reported on Wednesday a first-quarter loss of $242.1 million, or $4.03 per diluted share. The maker of radio frequency identification and voice-recognition products widened the loss it had reported earlier this month. Intermec said it made two non-cash adjustments: a $14.9 million charge against its voice solutions business segment and valuation allowance of $206.9 million. A company takes a valuation allowance charge when it isn't likely go get back the value of the product or investment, according to generally accepted accounting principles. On May 1, Intermec's chief executive, Patrick Byrne, left the company.
Story tags » • Intermec Technologies