Cimco May Revise Financial Results After Reviewing Customer’s Records
COSTA MESA — Cimco Inc., an industrial and medical thermoplastic manufacturer, announced Tuesday that it may have to revise its previously reported financial results for the fiscal year ended April 30.
The Costa Mesa company said it is reviewing a customer’s balance sheet in the wake of new information about the customer’s finances.
L. Ronald Trepp, Cimco’s chief financial officer, would not identify the customer and declined to elaborate on the reasons for the review. He said the company would file any revisions by Aug. 15, the Securities and Exchange Commission’s deadline.
The company reported June 30 that it had lost $1.5 million on net sales of $83.2 million for the year ended April 30. In the previous fiscal year, the company had lost $1.2 million on net sales of $73.9 million.
Cimco’s stock closed at $4.25 Tuesday, up 50 cents, in Nasdaq trading.
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