Printer Friendly

COMPUTER LANGUAGE RESEARCH, INC. ANNOUNCES EARLY ADOPTION OF STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 109

 CARROLLTON, Texas, Nov. 27 ~PRNewswire~ -- Computer Language Research, Inc. (NASDAQ: CLRI) announced today that it would adopt early the latest pronouncement by the Financial Accounting Standards Board on accounting for income taxes. The company has previously accounted for income taxes under Accounting Principles Board Opinion No. 11.
 The new pronouncement, Statement of Financial Accounting Standards No. 109 (FAS 109) must be adopted by companies for fiscal years beginning after Dec. 15, 1992 and early adoption has been encouraged. The company is adopting as of Jan.1, 1992.
 As noted in the 1991 Annual Report, FAS 109 will significantly reduce deferred tax credits. Though results have not yet been audited, the cumulative effect of adoption is expected to increase 1992 net income by approximately $5.5 to $6.0 million (40 cents to 43 cents per share).
 -0- 11~27~92
 ~CONTACT: M. Brian Healy, group vice president~finance and administration of Computer Language Research Inc., 214-250-7000; or Gerard Coffey of G.A. Kraut Company Inc., 212-696-5600, for Computer Language Research Inc.~


CO: Computer Language Research, Inc. ST: Texas IN: CPR SU:

WB-LR -- NY003 -- 1773 11~27~92 10:31 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 27, 1992
Words:190
Previous Article:SPINNAKER SOFTWARE AND PRINCIPAL STOCKHOLDER ANNOUNCE PLAN TO CONVERT LONG TERM DEBT INTO EQUITY
Next Article:THE VANGUARD GROUP OF INVESTMENT COMPANIES DECLARES DISTRIBUTIONS
Topics:


Related Articles
WASTE MANAGEMENT, INC. ANNOUNCES PER SHARE GAIN FROM INTERNATIONAL OFFERING, NET OF SPECIAL CHARGES; ADOPTS FINANCIAL ACCOUNTING STATEMENTS
3M ADOPTS NEW ACCOUNTING STANDARDS
AMOCO ADOPTING NEW ACCOUNTING STANDARDS IN FOURTH QUARTER
AMERICAN HOME PRODUCTS CORPORATION REPORTS RECORD SALES AND EARNINGS FOR 1992,
NUCLEAR SUPPORT SERVICES, INC. REPORTS FIRST QUARTER RESULTS
CHEMICAL FINANCIAL CORPORATION ADOPTS TWO NEW ACCOUNTING STANDARDS
IBM'S FIRST-QUARTER REVENUE, EARNINGS DECLINE FROM 1992 LEVELS
CAMBRIDGE TECHNOLOGY PARTNERS INC. ANNOUNCES FINANCIAL RESULTS FOR QUARTER ENDED MARCH 31, 1993
COMPUTER LANGUAGE RESEARCH, INC., REPORTS THIRD QUARTER 1993 RESULTS OF OPERATIONS AND CASH DIVIDEND DECLARATION
ACCPAC Lauds First U.S. Specification of XBRL Initiative; Urges Rapid Global Migration.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters