v2.4.0.6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Net sales	$ 496,231	$ 488,129	$ 1,510,980	$ 1,469,982
Cost of goods sold, buying and occupancy	348,869	343,876	1,053,581	1,024,064
Gross profit	147,362	144,253	457,399	445,918
Selling, general and administrative expenses	131,378	143,683	402,998	422,922
Operating income	15,984	570	54,401	22,996
Interest expense	(41,211)	(40,907)	(123,756)	(120,200)
Interest income	3	37	30	202
Loss before income taxes	(25,224)	(40,300)	(69,325)	(97,002)
Income tax benefit	434	(12,917)	1,306	(32,216)
Net loss	(25,658)	(27,383)	(70,631)	(64,786)
Other comprehensive income, net of income tax		111	173	136
Comprehensive loss	(25,658)	(27,272)	(70,458)	(64,650)
GUITAR CENTER, INC.
Net sales	496,231	488,129	1,510,980	1,469,982
Cost of goods sold, buying and occupancy	348,869	343,876	1,053,581	1,024,064
Gross profit	147,362	144,253	457,399	445,918
Selling, general and administrative expenses	131,378	143,683	402,998	422,644
Operating income	15,984	570	54,401	23,274
Interest expense	(21,217)	(20,914)	(63,776)	(60,222)
Interest income	3	37	30	202
Loss before income taxes	(5,230)	(20,307)	(9,345)	(36,746)
Income tax benefit	(3,192)	(6,548)	(5,037)	(12,361)
Net loss	(2,038)	(13,759)	(4,308)	(24,385)
Other comprehensive income, net of income tax		111	173	136
Comprehensive loss	$ (2,038)	$ (13,648)	$ (4,135)	$ (24,249)

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

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GUITAR CENTER, INC. 10-Q