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.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.