Brief: Legacy Housing Corp - Will Restate Its First, Second And Third Quarters Unaudited Interim Financial Statements For Fiscal Year 2021
03/08/2022 22:55
Aug 3 (Reuters) - Legacy Housing Corp LEGH.O :
* LEGACY HOUSING CORP - WILL RESTATE ITS FIRST, SECOND AND
THIRD
QUARTERS UNAUDITED INTERIM FINANCIAL STATEMENTS FOR FISCAL YEAR
2021
* LEGACY HOUSING - INVESTORS SHOULD NO LONGER RELY UPON
PREVIOUSLY
ISSUED FINANCIAL STATEMENTS FOR ITS FIRST, SECOND AND THIRD
QUARTERS 2021
* LEGACY HOUSING - ESTIMATES ADJUSTMENTS WILL RESULT IN AN
INCREASE TO RETAINED EARNINGS OF $1.7 MILLION AS OF MARCH 31,
2021
* LEGACY HOUSING - ESTIMATES ADJUSTMENTS WILL RESULT IN
INCREASE
TO RETAINED EARNINGS OF $1.9 MILLION AS OF JUNE 30, 2021
* LEGACY HOUSING - FOR THE THREE MONTHS ENDED MARCH 31,
2021,
ESTIMATES ADJUSTMENTS WILL RESULT IN AN INCREASE OF NET INCOME
BY $1.7 MILLION
* LEGACY HOUSING - FOR THE THREE MONTHS ENDED JUNE 30, 2021,
ESTIMATES ADJUSTMENTS WILL RESULT IN INCREASE OF NET INCOME BY
$0.2 MILLION
* LEGACY HOUSING - ESTIMATES ADJUSTMENTS WILL RESULT IN A
DECREASE
OF NET INCOME BY $1.7 MILLION FOR THE THREE MONTHS ENDED
SEPTEMBER 30, 2021
* LEGACY HOUSING - IDENTIFIED OVERSTATEMENT OF COSTS
ERRANTLY
ASSIGNED TO ACCOUNTS PAYABLE FOR INVENTORY RECEIVED BUT NOT
INVOICED FOR PERIOD ENDED MARCH 31, 2021 AND JUNE 30, 2021
* LEGACY HOUSING - IDENTIFIED UNDERSTATEMENT OF COSTS
ERRANTLY
ASSIGNED TO ACCOUNTS PAYABLE FOR INVENTORY RECEIVED BUT NOT
INVOICED FOR PERIOD ENDED SEPTEMBER 30, 2021
* LEGACY HOUSING - IDENTIFIED OVERSTATEMENT OF PREPAID
INVENTORY,
UNDERSTATEMENT OF COST OF PRODUCT SALES AND PROPERTY, PLANT &
EQUIPMENT FOR PERIOD ENDED SEPT. 30, 2021
Further company coverage: LEGH.O
((Reuters.Briefs@thomsonreuters.com;))