Acrodyne Communications 3rd Quarter Loss $1.05/Share
Dow Jones Online News, Thursday, March 08, 2001 at 16:51
Acrodyne Communications Inc. - Cockeysville, Md.
3rd Quar Sept. 30:
2000 a 1999 Sales $1,805,406 $3,453,112 Net income (7,318,563) (1,596,959) Avg shrs 6,981,161
6,771,248 Shr earns
Net income (1.05) (.24)
Figures in parentheses are losses.
a. Restated.
Acrodyne Communications Inc. (ACROE) restated financial results for 1998 and 1999 and for the first
quarter of 2000.
The reported results are the product of a thorough review process conducted by Acrodyne with the
assistance of Arthur Andersen LLP and PricewaterhouseCoopers LLP.
The quarterly results will be included in Form 10-QSBs that the company hopes to file with the
Securities and Exchange Commission within the next 60 days.
The company also expects to file the restated annual financial statements for 1999 and 1998 within
the next 60 days upon completion of the audits.
The financial results reflect "sizeable" losses, a majority of of which are related to inventory valuation
adjustments and revenue recognition issues.
(This story was originally published by Dow Jones Newswires)
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved
Companies or Securities discussed in this article:
Symbol
Name
NASDAQ:ACROE
Acrodyne Communications, Inc. (SC)
NASDAQ:ACRO
Acrodyne Communications, Inc. |
