Acacia Research Files Third Quarter 10-Q With the SEC With Retroactive Recognition of Ten Percent Stock Dividend Declared in Earnings Per Share Computations.Business Editors PASADENA, Calif.--(BUSINESS WIRE)--Nov. 13, 2001 Acacia acacia (əkā`shə), any plant of the large leguminous genus Acacia, often thorny shrubs and trees of the family Leguminosae (pulse family). Research Corporation (Nasdaq:ACRI) today filed its Form 10-Q Form 10-Q See 10-Q. for the quarter ended Sept. 30, 2001, with the Securities and Exchange Commission (the "SEC"). Pursuant to Generally Accepted Accounting Principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting , the computations of earnings per share for all periods presented in the third quarter Form 10-Q filed, give retroactive Having reference to things that happened in the past, prior to the occurrence of the act in question. A retroactive or retrospective law is one that takes away or impairs vested rights acquired under existing laws, creates new obligations, imposes new duties, or attaches a recognition to the ten percent (10%) stock dividend declared by the Company's board of directors as announced by the Company on Oct. 23, 2001. The table below compares earnings per share as previously reported in the Company's Oct. 24, 2001 third quarter earnings press release to earnings per share after retroactive recognition of the 10% stock dividend for the periods presented:
Three Months Ended Three Months Ended
Sept. 30, 2001 Sept. 30, 2000
Prior to After 10% Prior to After 10%
10% Stock Stock 10% Stock Stock
Dividend Dividend Dividend Dividend
Declared Declared Declared Declared
Loss per common share:
Basic and diluted
Loss from continuing
operations $(0.16) $(0.14) $(0.56) $(0.51)
Loss from discontinued
operations -- -- (0.13) (0.12)
$(0.16) $(0.14) $(0.69) $(0.63)
Weighted average number
of common and potential
common shares outstanding
used in computation of
loss per share
Basic and diluted 17,748,097 19,522,906 15,724,930 17,297,423
About Acacia Research Corporation Acacia Research develops and operates life science and enabling technology companies. The company's core technology opportunity has been developed through its subsidiary, CombiMatrix Corporation. Acacia Research intends to build and acquire companies in the life science and material science fields that will utilize CombiMatrix's biochip biochip Small-scale device, analogous to an integrated circuit, constructed of or used to analyze organic molecules associated with living organisms. One type of theoretical biochip is a small device constructed of large organic molecules, such as proteins, and capable of technology. Acacia Research's Web site is located at www.acaciaresearch.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. |
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