Acme Holdings to Take Fourth-Quarter Charges

Acme Holdings Inc. of Irvine said it expects to take a charge of $2 million for the fourth quarter to cover reorganization costs, including future lease commitments and severance and relocation costs.

In a press release, the company said it also expects to report a fourth-quarter charge of about $3.5 million for the write-down of underutilized assets, adjustments to inventory, additional reserves for uninsured liability claims and bad debts.

Acme said it expects its quarterly results--before reorganization and other charges--to be “below third-quarter 1993 levels.”

The company reported losses of about $2.2 million for the third quarter and $5.13 million for the nine months ended Sept. 30. The nine months included a charge of $649,000.

Acme estimates that total revenue for the fourth quarter and the year ended Dec. 31 will be about $16.6 million and $63.5 million, respectively, compared to $17.7 million and $68.6 million a year earlier. The company said that audited fourth-quarter and year-end results will be released around March 1.