Live: Samsung Unpacked Live Updates Galaxy S23 Ultra First Look Apple's iOS 16.3 Release 9 Ways to Celebrate Black History Month Best Indoor Plants HomePod 2nd-Gen Review 12 Best Cardio Workouts Salami, Sausage Recalled
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

Short Take: MicroTouch revises financial statements

MicroTouch will restate its financial statements for 1995 and for the first three quarters of 1996 in order to account for arbitration costs incurred in a battle with Nissha Printing, the company's former distributor. Net income for 1995 will be reduced to $1.7 million (from $2.3 million) and for the first three quarters of 1996 to $3.8 million (from $4.4 million). MicroTouch has alleged that Nissha violated provisions of their distribution agreement; the arbitration concluded in the third quarter of 1996 but a decision has yet to be announced.

MicroTouch will restate its financial statements for 1995 and for the first three quarters of 1996 in order to account for arbitration costs incurred in a battle with Nissha Printing, the company's former distributor. Net income for 1995 will be reduced to $1.7 million (from $2.3 million) and for the first three quarters of 1996 to $3.8 million (from $4.4 million). MicroTouch has alleged that Nissha violated provisions of their distribution agreement; the arbitration concluded in the third quarter of 1996 but a decision has yet to be announced.