January 31, 2018 / 11:16 AM / 3 months ago

BRIEF-Roadrunner Transportation ‍says Overstated Net Income By About $66.5 Mln From 2011 Through Q3 Of 2016​

Jan 31 (Reuters) - Roadrunner Transportation Systems Inc :

* ROADRUNNER TRANSPORTATION SYSTEMS COMPLETES FINANCIAL RESTATEMENT, REPORTS 2016 RESULTS AND UPDATES 2017 BUSINESS TRENDS

* ROADRUNNER TRANSPORTATION SYSTEMS - ‍INTERNAL INVESTIGATION FOUND THAT CO OVERSTATED ITS NET INCOME BY ABOUT $66.5 MILLION FROM 2011 THROUGH Q3 OF 2016​

* ROADRUNNER TRANSPORTATION - RESTATEMENT DUE TO AN INTERNAL INVESTIGATION BY AUDIT COMMITTEE OF BOARD INTO CERTAIN ACCOUNTING DISCREPANCIES

* ROADRUNNER TRANSPORTATION - INVESTIGATION IDENTIFIED ACCOUNTING ERRORS THAT “SUBSTANTIALLY” IMPACTED ALL FINANCIAL STATEMENT LINE ITEMS, DISCLOSURES

* ROADRUNNER TRANSPORTATION SYSTEMS INC - INVESTIGATION IDENTIFIED MATERIAL WEAKNESSES IN COMPANY’S INTERNAL CONTROL OVER FINANCIAL REPORTING

* ROADRUNNER TRANSPORTATION SYSTEMS INC - ‍ ESTIMATED ADJUSTED EBITDA IN 2017 IS EXPECTED TO BE HIGHER THAN 2016 BUT LOWER THAN $30 MILLION​

* ROADRUNNER TRANSPORTATION SYSTEMS INC - ‍CURRENTLY HAS AVAILABLE FUNDS FOR WORKING CAPITAL AND OPERATING PURPOSES Source text for Eikon: Further company coverage:

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