Discover Financial Services on Thursday said it has revised its fourth-quarter loss to $56.5 million, or 12 cents a share, after adjusting some deferred tax benefits associated with its Goldfish credit card business.
The Riverwoods, Ill., credit-card issuer company also said it revised its net income to $588.6 million, or $1.23 a share, for the fiscal year ended Nov. 30, 2007, according to a Securities and Exchange Commission filing.
Last December, Discover Financial Services reported in a press release a fourth-quarter loss of $84.1 million, or 18 cents a share, and net income of $561 million, or $1.17 a share, for the full year.
The company said earlier Thursday that it agreed to sell its Goldfish credit card business based in the U.K. to Barclays Bank PLC for around $70 million.
