Aspeon Files Form 10-Q/A for Restated Fiscal 2000 Quarters.Business Editors IRVINE Irvine, town, Scotland Irvine (ûr`vĭn), town (1991 pop. 32,507), North Ayrshire, SW Scotland, on the Irvine River estuary. Industries include iron and brass foundries. Other products are chemicals, electric goods, and clothing. , Calif.--(BUSINESS WIRE)--Dec. 21, 2000 Aspeon Inc. (Nasdaq:ASPEE) announced the filing of Form 10-Q/As for the fiscal 2000 quarters ended Sept. 30, 1999, Dec. 31, 1999, and March 31, 2000. A copy of the completed Form 10-Q/As will be available on the company's Web site at www.aspeon.com. The detailed quarterly revenue analysis prepared by the company resulted in the following shifts in product revenues and product gross profits for the three months ended Sept. 30, 1999, Dec. 31, 1999, and March 31, 2000:
For the Three Months Product Revenue Gross Profit Net Income (Loss)
Ended Adjustment Adjustment Adjustment
Sept. 30, 1999 ($269,500) ($78,800) ($0.01)
Dec. 31, 1999 $177,600 $59,400 $0.01
March 31, 2000 ($587,500) ($186,100) ($0.02)
Total ($679,400) ($205,500) ($0.02)
"In addition to the revenue-related adjustments discussed above, our previously reported operating results for the first three quarters of fiscal 2000 were adjusted by $1.7 million, or $0.19 per share, including an additional required $1.4 million non-cash accounting charge to adjust the previously recorded beneficial conversion feature associated with the issuance of our Series A preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , based upon an independent valuation obtained by the company," stated Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a Stack, president and chief executive officer. "The remaining adjustments related to unrecorded compensation expense, amortization of intangibles, expensing of costs previously capitalized Capitalized Recorded in asset accounts and then depreciated or amortized, as is appropriate for expenditures for items with useful lives longer than one year. and additional accrual accrual, n continually recurring short-term liabilities. Examples are accrued wages, taxes, and interest. of general expenses. "Our immediate objective is to complete the filing of our financial results for the three months ended Sept. 30, 2000, and continue to focus on returning to cash flow positive and profitable operations," said Stack. About Aspeon Inc. Aspeon currently operates in three business segments. The Point-of-Sale Products segment designs, manufactures, markets and sells open system touch screen POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale computers primarily for the food service and retail industries. The Solution Services segment provides retail foodservice technology solutions and services that enable restaurants and retailers to capture, analyze, disseminate dis·sem·i·nate v. dis·sem·i·nat·ed, dis·sem·i·nat·ing, dis·sem·i·nates v.tr. 1. To scatter widely, as in sowing seed. 2. and use information throughout the enterprise, from the POS cash register terminal to the back office to an organization's headquarters. The Application Services See ASP and Web services. Provider segment delivers integrated business application software customized to meet industry-specific requirements. Visit Aspeon at www.aspeon.com Except for historical information contained herein, the statements made in this release constitute 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 Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the intent, belief or current expectations of Aspeon and its management regarding the company's strategic directions, prospects and future results. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including the company's competitive environment, economic and other conditions in the markets in which it operates, changes in laws, changes to or clarifications of accounting rules or approaches and/or their applications, the size and timing of customer orders, delays in new product enhancements and new product and/or service introductions, quality control difficulties, changes in market demand, and other risks discussed in the company's filings with the SEC, which discussions are incorporated herein by reference. Such forward-looking statements represent management's current expectations and are inherently uncertain. The company's actual results and performance may differ materially. The company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" or to reflect the occurrence of unanticipated events. |
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