Tuesday, August 4, 2009

MGM MIRAGE Reports Second Quarter Financial Results

LAS VEGAS, Aug 03, 2009 /PRNewswire-FirstCall via COMTEX/ -- MGM MIRAGE (NYSE: MGM) today announced its financial results for the second quarter of 2009. The Company reported a second quarter diluted loss per share of $0.60 compared to income per share of $0.40 in the prior year second quarter. The current year result was impacted by non-cash impairment charges of $188 million, or $0.34 per diluted share net of tax, primarily related to the Company's investment in a convertible note. The Company also recorded losses on the retirement of long-term debt of $58 million primarily related to the redemption of senior debentures required to permit the Company's recent secured note issuances - an impact of $0.11 per diluted share net of tax.

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http://phx.corporate-ir.net/phoenix.zhtml?c=101502&p=irol-newsArticle&t=Regular&id=1315638&

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