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Dataram Revises Financial Release
This is a Press Release edited by StorageNewsletter.com on Wed, March 17th, 2010
Income tax benefit reduced by $5.8 million for 3Q10
Dataram Corporation announced that in a press release dated February 25, 2010, the Company reported on its financial results for its fiscal third quarter and nine months ended January 31, 2010. Subsequently, the Company has reassessed, under the guidelines of the applicable accounting standards, the more likely than not realizability of its deferred tax assets and has concluded that recording a valuation allowance on the Company’s deferred tax assets is required.
Accordingly, the Company’s reported income tax benefit for the three and nine month periods ended January 31, 2010 of approximately $488,000 and $2,158,000, respectively, will each be reduced by approximately $5,769,000 in its filing on Form 10-Q with the Securities and Exchange Commission for the Company’s fiscal third quarter ended January 31, 2010.
Accordingly, the Company’s reported income tax benefit for the three and nine month periods ended January 31, 2010 of approximately $488,000 and $2,158,000, respectively, will each be reduced by approximately $5,769,000 in its filing on Form 10-Q with the Securities and Exchange Commission for the Company’s fiscal third quarter ended January 31, 2010.
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