Women’s imaging vendor Fischer Imaging of Denver has delayed the filing of its 10-K annual report for 2002. The company also said it will restate its financial results for 2000 and 2001, as well as the first three quarters of 2002.
The company said the moves are the result of a review of its financial statements by auditing firm Ernst & Young, which replaced Fischer’s previous auditors, the now-defunct accounting firm Arthur Andersen, in the middle of last year.
Ernst & Young’s review is focusing on issues regarding the timing of revenue recognition, re-work, warranty inventory matters, and vendor receivables. Fischer CEO Gerald Knudson said the review will not affect the company’s cash balance or its ongoing operations. The main effect of the restatements will be to defer revenue and related direct costs into periods later than originally recorded.
By AuntMinnie.com staff writersApril 2, 2003
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Janer given nod as Fischer CTO, March 11, 2003
Fischer taps Broda, January 20, 2003
Fischer expands board of directors, January 15, 2003
Fischer sales fall, firm dips into red, November 14, 2002
Fischer gets extension to delisting stay, October 24, 2002
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