9/17/03-Forensic Advisors,Inc.:MatrixxInitiatives,Inc.(MTXX) Page 1/4
nvcc.edu MTXX
9/17/03-Forensic Advisors,Inc.:MatrixxInitiatives,Inc.(MTXX)
The independent research firm, Forensic Advisors, Inc., issued a recent
edition of The Eyeshade Report on Matrixx Initiatives, Inc. expressing
concerns regarding the decline in sales growth in the company's mature
products, a potential loss of a contract with a manufacturer owning
proprietary technology that makes the products responsible for most of MTXX's
growth, a possible GAAP violation regarding the company's accounting for a
dispute with a manufacturer, a material decline in gross profit margins
despite an increase in revenue and inventory, potential earnings management
and a possible GAAP violation regarding the company's reversal of a tax
valuation allowance, caution regarding a recent press release discussing a
million dollar sales day, concerns regarding the efficacy of three new
products and other operational matters. Full report dated August 26, 2003
available to subscribers from Forensic Advisors, Inc.
******
Forensic Advisors, Inc., publishes The Eyeshade Report, a series of
independent research reports on publicly traded companies. Forensic
Advisors' goal is to assess a company's quality of income and detect signs of
possible operational deterioration. In this manner, they strive to warn
investors and creditors of potential problems before they affect portfolio
performance. Three to eight reports are written each month and e-mailed to
subscribers as published. Samples are available on request for qualified
buy-side professionals.
******
For additional information please contact John McKeon at
Hoenig & Co., Inc. on (800)950-6364.
Independent_Research@hoenig.com
www.hoenig.com
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