Brief: Ability posts Q4 loss of $0.015 per share

Ability

02/05/2016 11:00

May 2 (Reuters) - Ability Inc  ABIL.O : 
    * Ability Inc reports fourth quarter and full-year 2015 
financial results 
    * Q4 loss per share $0.015 
    * "have authorized an internal investigation, to be overseen 
by our audit committee, into facts and circumstances surrounding 
restatement" 
    * "we expect to engage external consultants to assist us 
with conducting investigation following filing of our annual 
report on form 20-f" 
    * Revenues for q4 of 2015 were $2.0 million compared with 
$1.7 million for q4 of 2014, an increase of 16%. 
    * "We are not reaffirming forecast for 2016 previously 
provided in connection with business combination" 
    * Financial statements as of Dec 31, 2014 and for 2 yrs in 
period then ended restated to reflect corrections of errors 
    * Consolidated financial statements restated to reflect 
corrections of errors with respect to previously unrecognized 
commissions 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nPn7LhKkza 
Further company coverage:  ABIL.O  
 
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