The Literature Network - PLATO Learning, Inc. Announces Intent to Restate 1999 Income Tax Benefit; Company Sees No Adverse Effect on Current or Future Operating Results.

PLATO Learning, Inc. Announces Intent to Restate 1999 Income Tax Benefit; Company Sees No Adverse Effect on Current or Future Operating Results.

Content courtesy of

From: PR Newswire
Date: 20021205
Author:

PLATO Learning, Inc. today announced that it intends to restate its historical financial statements to reduce the income tax benefit recognized in the fourth quarter of fiscal 1999 from approximately $10 million to $6 million. This adjustment will also reduce the Company's deferred income tax asset, total assets and total stockholders' equity by approximately $4 million as of October 31, 1999 and subsequent balance sheet dates.

The Company discovered a miscalculation of its accumulated net operating loss carryforward in the process of analyzing its deferred income tax ...

Read the rest of this article with a Free Trial at HighBeam Research.

PLATO Learning, Inc. Announces Intent to Restate 1999 Income Tax Benefit; Company Sees No Adverse Effect on Current or Future Operating Results.

Other Articles on Plato