Champion reports higher Q2 profit

Champion reports higher Q2 profit

HUNTINGTON, W.Va. — Office furniture seller, commercial printer and newspaper publisher Champion Industries says its second-quarter profit rose 13 percent compared with restated results from 2009.

Champion says it earned $333,000, or 3 cents per share, in the second quarter. The company now says it earned $295,000, or 3 cents per share, in second-quarter 2009.

Revenue dipped to $33.7 million, from $36.1 million, in 2009.

Champion says it restated the 2009 figures due to a $300,000 non-cash adjustment related to a fourth-quarter 2009 write-down of the value of The Herald-Dispatch newspaper.

Thomson Reuters says the lone analyst surveyed expected Champion to lose 1 cent per share.

Huntington-based Champion released its results Thursday.