Log in or Sign up

ET News & Sponsor Info

General Topics

Markets

Technical Topics

Brokerage Firms

Company Specific

Interactive Brokers

Tools of the Trade

Trading for a Living

Community Lounge

Site Support

Feedback

FUQI - overreaction?

Discussion in 'Stocks' started by Technician, Mar 19, 2010.

Technician
- 113
  Posts
- 0
  Likes
http://www.reuters.com/finance/stocks/keyDevelopments?rpc=66&symbol=FUQI.O&timestamp=20100318201000

On March 16, 2010, the Company revealed that it found accounting errors that caused it to overstate profit for the first nine months of 2009. The Company also said that its revenue and profit came in below the Company's expectations in the fourth quarter as customers bought cheaper products. The Company said that an internal investigation found that its cost of sales for the first, second and third quarters of 2009 were understated, and as a result the Company's gross profit and net income for those periods were overstated. As a result, the Company announced it delay filing its annual report because of the mistakes.
More...

and investigations

is this an opportunity for a buy? can anyone shed some light

#1 Mar 19, 2010

Share

(You must log in or sign up to reply here.)

Search