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BOSTON TECHNOLOGY RESTATES QUARTERLY RESULTS FOR FY92 AND FY93; RESTATEMENT DOES NOT AFFECT RESULTS OF FULL FISCAL YEARS

 WAKEFIELD, Mass., Sept. 9 /PRNewswire/ -- Boston Technology, Inc. (NASDAQ: BSTN) announced today that it has filed restatements of its quarterly financials for fiscal 1992 and 1993 with the Securities and Exchange Commission (SEC). The restatements reflect changes in earnings and earnings per share required to reallocate favorable fourth quarter adjustments to inventory in fiscal 1992 and 1993 to more closely reflect the adjustments in the three month periods within the same fiscal year to which they pertain. The restatements do not impact the results of the full fiscal years.
 The fourth quarter adjustments, which were previously reported and fully disclosed in the company's 10K filings for fiscal years 1992 and 1993, were the results of changes in inventory costing and reevaluation of the reserve for inactive, obsolete and surplus inventory. These adjustments arose in the fourth quarter because of the company's policy to calculate overhead and record a provision for inactive, obsolete and surplus inventory based on estimates made at the beginning of the year.
 -0- 9/9/93
 /CONTACT: Katherine Raphaelson, director, investor and public relations, 617-246-9000, ext. 3504; or Kim Carnesale, investor and public relations analyst, 617-246-9000, ext. 3550, both of Boston Technology/
 (BSTN)


CO: Boston Technology ST: Massachusetts IN: TLC SU:

CM-DD -- NE007 -- 0185 09/09/93 09:38 EDT
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Publication:PR Newswire
Date:Sep 9, 1993
Words:213
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