Brief: Power solutions says company's previously issued financial statements should be restated

Power Solutions International

05/01/2017 11:07

Jan 5 (Reuters) - Power Solutions International Inc 
 PSIX.O : 
    * Power solutions - determined company's previously issued 
consolidated financial statements for fiscal year ended december 
31, 2015 should be restated 
    * Power solutions -  determined co's previously issued 
financial statements for second, third and fourth fiscal 
quarters of fy 2015 should be restated 
    * Power solutions international inc - determined co's 
previously issued financial statements for fiscal quarter ended 
march 31, 2016 should be restated 
    * Power solutions international - anticipates that it will 
file restated financial statements covering affected fiscal 
periods as soon as practicable 
    * Power solutions international - anticipated adjustments 
are expected to reduce net sales previously recognized in 
second, third, fourth qtrs of 2015 
    * Power solutions international inc - sec's enforcement 
staff informed company that it was conducting an investigation 
    * Power solutions international inc - sec has issued a 
subpoena requiring production of documents and information 
    * Power solutions international inc - believes focus of 
inquiry concerns, among other things on revenue recognition 
practices 
 
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