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Technology Stocks : NANO
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To: Christopher Brainard who wrote (2269)3/23/2005 11:42:07 AM
From: JakeStraw   of 2272
 
Nanometrics reveals internal financial control woes
SAN FRANCISCO (MarketWatch) -- Nanometrics Inc. disclosed Wednesday some of its internal controls over its financial reporting are lacking. In its annual report, among other significant deficiences, Nanometrics said its auditor found that the company lacks the staff to keep on top of developing U.S. accounting policies and its documentation for audit procedures over revenue recognition and cash receipts is not comprehensive. The Milpitas, Calif.-based chip tool maker said it hopes to fix its internal controls by the third quarter.
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