RobertoOrtiz
08-20-2004, 01:48 AM
Quote:
"Mainframe Entertainment Inc., a Vancouver-based animation company that created the ReBoot television series, said last week it is restating financial results for the third quarter of its financial year.
The announcement came one day after Mainframe released its results for the year ended March 31.
The changes decreased net income in the quarter ended December 31 by $983,201 and increased net income in the January-March quarter by $769,088, the company said.
Mainframe had said it earned $200,000 in the fourth quarter on $4 million in revenue.
The release said the restatement was recommended by the company's auditors as an alternative accounting treatment regarding the gain on sale of subsidiaries recorded in the third quarter.
Mainframe’s profit for the fourth quarter was well below 2003 results of $1.3 million or seven cents a share that included a big special gain."
>>Link<< (http://www.businessedge.ca/viewnews.asp?id=6679)
-R
"Mainframe Entertainment Inc., a Vancouver-based animation company that created the ReBoot television series, said last week it is restating financial results for the third quarter of its financial year.
The announcement came one day after Mainframe released its results for the year ended March 31.
The changes decreased net income in the quarter ended December 31 by $983,201 and increased net income in the January-March quarter by $769,088, the company said.
Mainframe had said it earned $200,000 in the fourth quarter on $4 million in revenue.
The release said the restatement was recommended by the company's auditors as an alternative accounting treatment regarding the gain on sale of subsidiaries recorded in the third quarter.
Mainframe’s profit for the fourth quarter was well below 2003 results of $1.3 million or seven cents a share that included a big special gain."
>>Link<< (http://www.businessedge.ca/viewnews.asp?id=6679)
-R