Syntax-Brillian Corp (MM) (NASDAQ:BRLC)
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From Jun 2019 to Jun 2024
Syntax-Brillian Corporation (Nasdaq:BRLC) today announced that as
previously stated on February 11, 2008, Syntax-Brillian management,
working with the Audit Committee of the Board of Directors, has been
evaluating its accounting treatment related to tooling deposits with a
manufacturing partner. Based on the preliminary findings of the review
of the accounting for the tooling deposits, as well as certain sales
transactions with the Company’s Asian
distributors, management and the Audit Committee believe that the
financial statements for fiscal year ended June 30, 2007 and the interim
periods contained therein, and the first fiscal quarter of 2008 may
likely require restatement, and the financial disclosures within these
previously-issued financial statements may likely be changed. As such,
the Company’s financial statements for these
periods should no longer be relied upon.
At the present time, the Company is uncertain as to the resulting impact
on its financial statements or when the Audit Committee's review of
these accounting matters will be completed.
About Syntax-Brillian
Syntax-Brillian Corporation (www.syntaxbrillian.com)
is one of the world's leading manufacturers and marketers of LCD HDTVs,
digital cameras, and consumer electronics products. The Company's lead
products include its Olevia(TM) brand (www.Olevia.com)
high-definition widescreen LCD televisions -- one of the fastest growing
global TV brands -- and Vivitar brand (www.vivitar.com)
digital still and video cameras. Syntax-Brillian has built an Asian
supply chain coupled with an international manufacturing and
distribution network to support worldwide retail sales channels and
position the Company as a market leader in consumer digital
entertainment products.
Forward-looking Statements:
Certain statements contained in this press release may be deemed to be
forward-looking statements under federal securities laws, and
Syntax-Brillian intends that such forward-looking statements be subject
to the safe harbor created thereby. Syntax-Brillian cautions that these
statements are qualified by important factors that could cause actual
results to differ materially from those reflected by the forward-looking
statements contained herein. Such factors include changes in markets for
the Company's products; changes in the market for customers' products;
the failure of the Company's products to deliver commercially acceptable
performance; the ability of the Company's management, individually or
collectively, to guide the Company in a successful manner; and other
risks detailed in Syntax-Brillian's Annual Report on Form 10-K for the
fiscal year ended June 30, 2007 and subsequent filings with the
Securities and Exchange Commission.
Brillian and Vivitar are trademarks or registered trademarks of
Syntax-Brillian Corporation. All other trademarks are the property of
their respective owners.