Analogic said it will now have to restate its financial statements for fiscal 2002 and 2003. The Peabody, MA-based firm said in December that it needed to revise its previously announced operating results for the 2004 fiscal year, stemming from a review of accounting practices at its Camtronics Medical Systems subsidiary.
The company estimates that fiscal 2002 revenues will be $1.2 million lower than the $306.1 million originally reported, and that fiscal 2003 revenues will be $200,000 higher than the $471.5 million originally reported. Analogic said it would issue another press release providing complete results for those periods, fiscal 2004, and the first quarter of fiscal 2005.
By AuntMinnie.com staff writers
January 17, 2005
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