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Technology / AI and automation

QMS ANTICIPATES $10M ONE-TIME WRITE-DOWN OF INVENTORIES

Mobile, Alabama-based QMS Inc, the former Quality Micro Systems, warned yesterday that it expects to have to make a one-time write-down of inventories totalling some $10m before tax in its fiscal fourth quarter to September 30, and that as a result, it expects a loss for the year: the write-down relates to inventory made obsolete by the development of new technology by the company and certain suppliers, excess inventories of low volume products and spare parts, research and development and marketing kit, and other valuation adjustments.

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CBR Staff Writer

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