Brief: Cpi Aerostructures To Restate Fiscal 2020 Financial Statements

CPI Aerostructures

07/06/2021 13:48

June 7 (Reuters) - Altice USA Inc  ATUS.N :
    * CPI AEROSTRUCTURES TO RESTATE FISCAL 2020 FINANCIAL
STATEMENTS
    * CPI AEROSTRUCTURES INC - ANNOUNCES HIRING OF ANDREW L.
DAVIS AS
CHIEF FINANCIAL OFFICER DESIGNEE
    * CPI AEROSTRUCTURES INC - MANAGEMENT IDENTIFIED ERRORS IN
INVENTORY COSTING PROCESSES
    * CPI AEROSTRUCTURES INC - ERROR LED TO INCORRECT INCOME
REPORTED
FROM SALES OF CERTAIN PRODUCTS
    * CPI AEROSTRUCTURES - ERRORS AFFECT INCOME REPORTED WITH
RESPECT
TO PRODUCT LINES FOR WHICH REVENUE IS RECOGNIZED WHEN A PRODUCT
SHIPS TO CUSTOMERS
    * CPI AEROSTRUCTURES INC - ESTIMATES FISCAL YEAR 2020 NET
INCOME
WILL BE REDUCED BY BETWEEN $1.9 MILLION AND $2.3 MILLION, SPREAD
OVER FOUR FISCAL QUARTERS

Source text for Eikon:  ID:nGNX5MZcQ4 
Further company coverage:  ATUS.N 

 ((Reuters.Briefs@thomsonreuters.com;))