Brief: Patriot Transportation says expects $2.5 mln asset impairment charge in FY ended September

Patriot Transportation Holding

25/03/2015 20:24

March 25 (Reuters) - Patriot Transportation Holding Inc  PATI.O : 
 * Expects to record non-cash intangible asset impairment charge of about $2.5 
   million in FY ended September 30, 2015 
 * Says non-cash impairment charge will not result in any future cash 
   expenditures 
 * Concluded charge is necessary due to of loss of business at locations 
   previously served by pipeline transportation 
 * Non-cash impairment charge not impact co's liquidity, cash flows, compliance 
   with its debt covenants-SEC filing 
 * Continues to add new business and expects to replace the lost business with 
   new business at more favorable rates 
 
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