Henley Group Posts Another Big Loss

Again downplaying the significance of its unbroken string of huge quarterly losses, Henley Group Inc. reported a $37 million loss on $913 million in revenue for the second quarter ended June 30. So far this year, Henley has lost $120 million on sales of $1.8 billion.

In a prepared statement, Henley Chairman Michael Dingman said it is “impossible” to judge Henley’s performance on the basis of its earnings because of non-operating merger costs, which include the ongoing amortization of hundreds of millions of dollars in good will.

The company, however, would not say whether Henley posted a profit or loss on operations for the quarter, nor would it specify the amounts of the non-operating merger costs. A Henley spokesman said those details would not be available until Henley files its 10-Q statement with the Securities and Exchange Commission on or before Aug. 15.

The recent quarter’s performance compares with a loss of $19 million on sales of $805 million for the same period a year ago. For the corresponding six-month period last year, Henley lost $42 million on revenue of $1.5 billion.