Other income increased by $429,000, from $75,000 in the fourth quarter of 2007 to $504,000 in the fourth quarter of 2008. Other income in the fourth quarter of 2008 included $500,000 from the sale of an entity in Mexico.
Loss on equity method investment was $899,000 in the fourth quarter of 2008 or 2.4% of total net sales, compared to no such expense in the fourth quarter of 2007. The loss was the result of the disposition of our 45% membership interest in American Rag Cie LLC in connection with settlement of our litigation with American Rag Cie.
The net loss in the 2008 fourth quarter, including charges, was $5.8 million or $0.19 per share, compared to net income of $325,000 or $0.01 per share in the 2007 fourth quarter.
marketing@alchempro.com
