Compass Diversified Holdings reported that cash flow available for distribution and reinvestment more than doubled in the third quarter of 2010, compared to last year’s third quarter. Management attributed the increase to improved business at the company’s subsidiary businesses.
Compass Diversified Holdings reported $23.8 million in cash flow available for distribution and reinvestment in the third quarter of 2010. The company generated $11.7 million in the same quarter of 2009.
Compass Diversified Holdings also paid its regular cash distribution of $0.34 per share last month, and has now paid out cumulative cash distributions of $5.65 per share since the company went public in 2006.
Compass Diversified Holdings reported a net loss of $29.4 million, or $0.72 per share, in the third quarter of 2010. The company earned net income of $2.7 million, or $0.06 per share, in the comparable quarter of 2009. Compass Diversified Holdings said that the large GAAP loss in the most recent quarter was caused by a non-cash impairment charge of $42.4 million due to the write down in value of the company’s furniture subsidiary.
Compass Diversified Holdings owns interests in eight subsidiary businesses – American Furniture Manufacturing, Anodyne Medical Device, Advanced Circuits, Fox Racing Shox, Halo Lee Wayne, Liberty Safe, ERGO Baby Carrier and Staffmark.
For more information on the company, go to www.compassdiversifiedholdings.com
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