The New QLogic (ANCR) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: doc who wrote (3818)	3/14/1997 9:40:00 AM
From: jad	of 29386

auditor questions viability MINNEAPOLIS, March 14 (Reuter) - Ancor Communications Inc has received an auditor's opinion raising questions about the company's ability to continue as a going concern, Ancor's chief financial officer said Friday. Ancor also announced a planned private placement of up to $10 million of five percent convertible preferred stock. CFO Lee Lewis said of the auditor's warning, "This is not unusual for a company at Ancor's stage of development, and reflects the prudence and conservatism that our independent auditors exercise in their review of our financial statements." According to Ancor's 1996 10-K report filed today with the Securities and Exchange Commission, the company has adjusted previously announced sales for the 1996 fourth quarter and full year. Ancor has reduced fourth quarter sales and cost of sales by about $436,000. Ancor said the restatement did not impact previously reported net losses or losses per share. The auditor's warning is not related to the restatement of sales, Ancor said.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next