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CNT Postpones Fourth Quarter Conference Call.

Publication: PR Newswire
Publication Date: 07-MAR-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
CNT today announced that it would be rescheduling its fourth quarter 2004 earnings announcement and conference call. The Company will announce the date of its earnings release and conference call at a later date.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020415/CNTLOGO )

The rescheduling was necessary due to time needed to complete the reconciliation of finished goods inventory between the general ledger and the Company's material requirements planning, or MRP, system and to review accounting for fourth quarter shipments. "We felt that it was prudent to reschedule the call so that the Company and our auditors could make sure that the systems were properly reconciled and the accounting was proper," stated Greg Barnum, the Company's Chief Financial Officer. "We believe the differences related to the reconciliation to the MRP system will probably result in a restatement of the first through third quarter 2004 financial statements."

Restatement

If a restatement is required, CNT expects to file with the Securities and Exchange Commission (SEC) its amended Form 10-Q for the first, second and third quarters of 2004, as soon as practicable. We believe the adjustments that result from the above mentioned inventory reconciliation will increase the Company's...

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