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February 14, 1997updated 05 Sep 2016 12:41pm


By CBR Staff Writer

Micro Warehouse Inc has reported fourth quarter net profits down 24.0% at $5.8m including a charge of $1.9m in 1996 for restatement of previously announced accounting errors, and $4.1m in the 1995 period, on revenue up 5.0% at $526.7m; net profits for the year to December 31 were down 57.0% at $15.3m including a charge of $14.0m for restatement of accounting errors and $1.8m tax benefit on Inmac Inc acquisition, on revenue that rose 14.0% to $1,916.2m. Net earnings per share fell 23.0% to $0.17 in the quarter, 58.1% to $0.44 in the year.

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