Arrhythmia Delays Year-End Financials
Fitchburg-based Arrhythmia Research Technology said its fourth-quarter and year-end earnings reports will be delayed due to an ongoing internal review of its revenue accounting methods.
The sensor manufacturer, which also offers machining and mold making, said its audit committee is working with an independent auditor on potential changes to how the company recognizes tooling revenue.
Arrhythmia said it expects to report a net loss of $2.5 million on revenue of $20.3 million for its 2012 fiscal year, but those figures are preliminary.
The company's longtime CEO, James Rouse, resigned in October. Earlier this month, the company appointed Salvatore Emma Jr. to fill the role.
Emma said today that the company is doing everything possible to ensure the revenue-reporting matter is resolved as quickly and accurately as possible.
WBJ Web Partners
Most Recent
Most Recent
0 Comments