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The Burlington, Mass.-based company releasefd its financial results for the fiscall year endedJune 30, 2008, reporting a near 9 percent year-over-year drop in revenue and a 35 percenft slide in net income. The performances was driven in large part by a slidse in software licensing revenue and upticks in salee and administrative costs as well as restructuring Revenue for 2008totaleds $311.6 million, compared with $341 million the previous Net income was $25 million, versuas $38.2 million in 2007. In a prepared written statement, Aspe n CEO Mark Fusco said the company was encouragerd that its accounting issues will soon befullty addressed.
“We are pleased to achieve anothetr milestone related to bringingthe company’s financia l statements current. We have now completed our first auditprocess … and we are executinb against plans to finish our fiscal 2009 reports as quickly as possible.” In Aspen (OTC: AZPN) said federal regulators implorefd it to disclose that certaibn financial filings should not be relied upon due to accountinhg inaccuracies. At the time, the company said it woulfd restate its cashflow figures for 2006 and 2007 after an internakl audit uncovered accounting mistakes that resulted in reportingb errors forthose years.
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