US: Molson Coors Q1 losses revised downwards
First quarter losses announced last week by Molson Coors are wider than originally reported, according to a recent filing. The newly-merged company posted its first financial results since Molson and Coors joined forces last Thursday, saying that quarterly losses, excluding one-time items, totalled US$5.1m.
In a document filed yesterday (2 May) with the Securities and Exchange Commission, however, Molson Coors said that losses were actually US$8.4m for the three-month period.
On a pro-forma basis and before charges, the company said that losses hit US$7m, or 9 cents per share, and not the initial US$4m, or 4 cents a share.
Reasons for the revision were not immediately disclosed.
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