Dealnet Capital Corp. Announces Earnings Results for the Third Quarter Ended September 30, 2017; Announces Impairment Loss for the Third Quarter Ended September 30, 2017
For the third quarter ended September 30, 2017, the company recognized an impairment loss of CAD 10.6 million for these dealer relationships and CAD 0.6 million for the brand and trademarks. In addition, as part of its annual impairment testing of goodwill, the company determined that the carrying value of its Live Engagement segment exceeded its fair value. As a result, during the period the company recognized an impairment loss of CAD 1.8 million for its goodwill, CAD 0.5 million for its computer software intangible asset and CAD 0.2 million for its Customer relationships intangible asset in this segment.