Comdisco Holding reports $593,000 net loss for quarter ended Dec. 31

By Caroline Salls

Pittsburgh, Feb. 14 - Comdisco Holding Co., Inc. reported a net loss of $593,000, or $0.15 per common share for the quarter ended Dec. 31, according to a news release.

The company said the net loss was driven in large part by the selling, general and administrative expenses of the estate during the quarter. The per-share results were based on 4.03 million shares of common stock outstanding on Dec. 31.

Total revenue for the quarter was $142,000, compared to $133,000 for the quarter ended Dec. 31, 2011.

According to the release, net cash used in operating activities was $411,000 for the three months ended Dec. 31 as a result of payment of selling, general and administrative expenses, slightly offset by equity proceeds and bad debt recoveries.

Total assets were $39.27 million as of Dec. 31, including $33.36 million of unrestricted cash and short-term investments, compared to total assets of $39.77 million as of Sept. 30, including $33.85 million in unrestricted cash and short-term investments.

Comdisco said the decrease in cash was primarily a result of payment of selling, general and administrative expenses paid during the three months ended Dec. 31.

Comdisco emerged from Chapter 11 bankruptcy on Aug. 12, 2002. Comdisco Holding is a Rosemont, Ill., company formed to sell the assets of its predecessor Comdisco, Inc. and distribute the proceeds.

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