October 18, 2017 / 9:45 PM / a year ago

BRIEF-Global Eagle Entertainment posts unaudited financial results for Q4 2016

Oct 18 (Reuters) - Global Eagle Entertainment Inc

* Global Eagle Entertainment -audit committee concluded carrying value of goodwill of former maritime & land connectivity segment exceeded implied fair value

* Global Eagle Entertainment - co must record non-cash goodwill impairment charge of $64.0 million in Q4 of 2016​

* Global eagle entertainment-during q1 of 2017, due to significant decline in price of co's common stock, assessed for impairment carrying value of goodwill

* Global Eagle Entertainment- committee concluded co must recognize non-cash goodwill impairment charge in Q1 for maritime & land connectivity segment​

* Global Eagle Entertainment Inc - ‍preliminarily estimate additional impairment charge in Q1 will be $75.0 million to $80.0 million​

* Global Eagle Entertainment says additional impairment in Q1 will not result in any current or future cash expenditures

* Global Eagle Entertainment - ‍do not anticipate further impairments in carrying value of goodwill associated with the segment in Q2 or Q3 2017​ Source text for Eikon: Further company coverage:

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