Addressing its outlook for continuing operations, the Company stated that based on current trends, second quarter revenues are expected to be down in the high single-digits on a percentage basis compared to the same quarter a year ago and that it expects to generate earnings per share on a diluted basis in the low-single-digit range. The Company indicated that longer term visibility into revenues and earnings remains somewhat limited at the present time.
The Company had approximately $148 million of availability under its credit lines in addition to approximately $150 million of unrestricted cash at the end of the first quarter.