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Strategies & Market Trends : rat's nest -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (197)	4/4/2001 11:11:09 AM
From: jbIII	Respond to of 844

Man oh Man! As Beldar used to say , time to consume mass quantities, pfffsssssttttt, pfffsssssttttt, pfffsssssttttt, pfffsssssttttt, pfffsssssttttt, pfffsssssttttt, California Amplifier's Auditor Withdraws Its Audit Report for Fiscal Year 2000 CAMARILLO, Calif., April 4 /PRNewswire/ -- California Amplifier Inc. (Nasdaq: CAMP - news) today announced that as a result of procedures performed to date relating to its continuing internal financial investigation the Company has confirmed that there are overstatements to net income for the fiscal year ended February 26, 2000 as discussed in its press release dated March 29, 2001, as well as additional overstatements to net income for the interim quarterly statements issued in fiscal year 2001. The amounts for each fiscal year, however, have not yet been finalized. To date, there has been no indication of any misstatement of revenue for any period, and no detection of any misappropriation of cash or other assets. (Photo: newscom.com ) As a result of these findings Arthur Andersen LLP, the Company's Independent Public Accountants, has informed the Company that due to the misstatements it has withdrawn its Report of Independent Public Accountants on the Company's consolidated financial statements for the year ended February 26, 2000. The Company is working diligently to conclude this investigation, and upon its completion and re-certification of its financial statements for fiscal year 2000 by Arthur Andersen LLP, the Company will file amendments to Form 10-K for its fiscal year 2000 and the related quarterly Form 10-Qs for fiscal year 2000 and fiscal year 2001. The Company is working with Nasdaq to determine when Nasdaq will permit the Company's common stock to resume trading.