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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?


To: jhild who wrote (15600)5/22/1998 11:09:00 AM
From: Scrapps  Read Replies (2) | Respond to of 22053
 
Heard she was loosing her grip because she couldn't put her finger on it. Whatever became of her idea to cut the murder rate by making safer bullets? <gg>



To: jhild who wrote (15600)5/22/1998 11:16:00 AM
From: David Lawrence  Read Replies (2) | Respond to of 22053
 
Ouch.

BOCA RATON, Fla.--(BUSINESS WIRE)--May 22, 1998--Boca Research, Inc. (NASDAQ:BOCI) today announced that it has restated its results of operations for the three months ended March 31, 1998 and balance sheet at March 31, 1998 to record a $856,000 increase to cost of goods sold and a corresponding increase to accounts payable. The adjustment is due to an error in recording $856,000 of the inventory returned to a vendor as discussed below.

Boca also restated its balance sheet at March 31, 1998 to record a $2.8 million increase to inventory and accounts payable relating to inventory recorded as returned to a vendor during the quarter, but not actually delivered to the common carrier until April 1, 1998.

Boca had previously reported a net loss of $2.6 million, or ($0.30) per share which is being restated to a net loss of $3.5 million, or ($0.40) per share. Additionally, gross profit (loss) was adjusted from $706,000 to ($150,000).

Boca will be amending its Current Report on Form 10-Q for the quarter ended March 31, 1998 previously filed with the Securities and Exchange Commission to reflect this restatement.


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