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January 5, 1987

FLEXIBLE COMPUTER RESTATES 1985, 1986 SALES SHARPLY LOWER; LOSSES UP

By CBR Staff Writer

Flexible Computer Corp, which warned last month that it might have to revise its 1985 and 1986 figures downwards because it had been recognising revenue from sales too early (CI No 575), has now announced the revised figures. The Dallas, Texas OEM board systems manufacturer now says that it made a net loss of $5m on sales of $1m in the nine months to September 1986; it had originally claimed a net loss of $3.2m on sales of $4.2m. For 1985, the company now says that net losses were $8.7m on sales of $777,960 where previously it had reported a net loss for 1985 of $7.6m on turnover of $2.5m.

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