Thanx Crossy,
I gave you a lead on VOXXE a while back,
today they came out with news,and it is good.
This company produces the radios for sattelite radio.
They should move up the same as SIRI + XMSR that are involved with the sattelites.
Here is the news that will remove the E in their symbol.
Audiovox Corporation to Restate Results for Fiscal Years 2000, 2001 and the First Three Quarters of 2002
- Cumulative effect of changes is an increase of $1.0 million to net
income
- Certain expenses reclassified from operating expenses to cost of sales
for the same periods
HAUPPAUGE, N.Y., May 29 /PRNewswire-FirstCall/ -- Audiovox Corporation (Nasdaq:VOXXE) today announced that in connection with the previously announced Securities and Exchange Commission ("SEC") comment letter and the current audit, the Company expects to restate results for fiscal years 2000, 2001, and the first three quarters of fiscal 2002. The net effect of the adjustments is expected to have no impact on the Company's cash balances for any period.
The Company expects to file its Form 10-K for 2002 reflecting restatements for 2000, and 2001 and the first three quarters of fiscal 2002 as soon as the remaining SEC comments are resolved and the Company's audit is completed. As a result, until the audit is complete and the statements are filed, previously issued financial statements should no longer be relied upon until this process is completed.
Although adjustments vary by period, the cumulative effect of all of these changes, which include changes previously announced on March 14, 2003, is an unaudited $1.0 million increase in income over the periods. The unaudited net effect of all the restatement adjustments by period, including that previously announced on March 14, |
