For the quarter (end-June 30), the company reported net sales of $1.009 billion, a decrease of 3.1% from $1.042 billion in the second quarter of 2018. The company's net income was $36.4 million, compared with a loss of $1.122 billion in the same quarter last year.
The net loss in the second quarter of 2018 was the result of a goodwill impairment charge of $1.086 billion. Goodwill is the difference between what a company pays for an asset and the book value of that asset.
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