National Vision Holdings, Inc.
For the period ended Mar 29, 2025. Filed May 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 29, 2025 · Filed May 8, 2025
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2. Discontinued Operations
- Discontinued Operations
We previously recorded a net expense of $2.8 million during the three months ended March 30, 2024 associated with our discontinued operations, which consisted of severance benefits, early termination fees, and other exit-related costs. These charges were recorded in both Selling, general, and administrative expenses and Costs applicable to revenue for discontinued operations. The plan has been substantially completed and we do not anticipate additional material costs related to this plan.
The following table presents loss from discontinued operations, net of tax:
| Three Months Ended | |
|---|---|
| In thousands | March 30, 2024 |
| Revenue: | |
| Net product sales | $73,599 |
| Net sales of services and plans | 4,514 |
| Total net revenue | 78,113 |
| Costs applicable to revenue (exclusive of depreciation and amortization): | |
| Products | 59,627 |
| Services and plans | 2,755 |
| Total costs applicable to revenue | 62,382 |
| Operating expenses: | |
| Selling, general and administrative expenses | 16,624 |
| Depreciation and amortization | 960 |
| Other expense (income), net | (12) |
| Total operating expenses | 17,572 |
| Loss from discontinued operations before income taxes | (1,841) |
| Income tax (benefit) from discontinued operations | (1,773) |
| Loss from discontinued operations, net of tax | $(68) |
The following table presents significant non-cash items and cash flows from investing activities related to discontinued operations:
| Three Months Ended | |
|---|---|
| In thousands | March 30, 2024 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |
| Depreciation and amortization | 960 |
| Stock-based compensation expense | 51 |
| Inventory adjustments | 377 |
| Other | (1,592) |
| Cash flows from investing activities: | |
| Other | 1,728 |
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