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8 months ago
BRIEF-Power solutions says company's previously issued financial statements should be restated
January 5, 2017 / 11:30 AM / 8 months ago

BRIEF-Power solutions says company's previously issued financial statements should be restated

Jan 5 (Reuters) - Power Solutions International Inc :

* Power solutions - determined company's previously issued consolidated financial statements for fiscal year ended december 31, 2015 should be restated

* Power solutions - determined co's previously issued financial statements for second, third and fourth fiscal quarters of fy 2015 should be restated

* Power solutions international inc - determined co's previously issued financial statements for fiscal quarter ended march 31, 2016 should be restated

* Power solutions international - anticipates that it will file restated financial statements covering affected fiscal periods as soon as practicable

* Power solutions international - anticipated adjustments are expected to reduce net sales previously recognized in second, third, fourth qtrs of 2015

* Power solutions international inc - sec's enforcement staff informed company that it was conducting an investigation

* Power solutions international inc - sec has issued a subpoena requiring production of documents and information

* Power solutions international inc - believes focus of inquiry concerns, among other things on revenue recognition practices Source text bit.ly/2hVLHN3 Further company coverage:

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