TECHNOLOGY - Sept. 25, 1992
From Times Staff and Wire Reports
Wang Losses Revised Upward: The computer company said the financial loss from its last fiscal year could be worse than originally stated because of the extra costs of shrinking the company in bankruptcy court. The Lowell, Mass.-based firm said it expects to restate the results for the fiscal year that ended June 30 to account for additional restructuring charges. The company said “these charges could be substantial and result in a sizable loss for the prior fiscal year.†When Wang filed for Chapter 11 on Aug. 18, it estimated that its fiscal 1992 losses totaled $139.2 million.
