Guitar Center Reports $149,000 2nd-Quarter Loss
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Guitar Center Inc., reported a net loss of $149,000 for the second quarter ended June 30, compared with a net income of $2.3 million for the same period last year. Revenues totaled $139.2 million, compared to $114.5 million.
The company attributed the loss, in part, to the acquisition of Internet retailer Musician’s Friend Inc. in May. Guitar Center sells musical instruments through stores nationwide and the Internet.
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