Thursday, Dec 08, 2016
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N-Viro restates yield for portion of 2002

N-Viro International Corp. has notified the U.S. Securities and Exchange Commission in a filing that it restated its earnings for part of 2002 and adjusted its deficit reported in 2001, because the Toledo wastewater-treatment firm found it had underbilled a customer.

N-Viro said it understated its revenue by $214,000 and its gross profit by $194,000 over a 21/2 –year period and that its accumulated deficit at year-end 2001 had been overstated by $110,000.

The firm reported a revised profit of $124,000, or 5 cents a share for the first quarter of 2002, instead of the previously reported $106,000, or 4 cents a share, and a revised profit for the first three quarters of 2002 was $57,000, or 2 cents a share, instead of $4,000, or less than 1 cent a share.

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