case1_digimarc

case1_digimarc - PRESS RELEASES Digimarc Corporation...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
PRESS RELEASES Digimarc Corporation Announces Review of Accounting Treatment Regarding Capitalization of Certain Expenditures Advises That Prior Period Financial Statements May be Restated Tualatin, OR – September 13, 2004 – Digimarc Corporation (NASDAQ: DMRC) today announced that it is reviewing certain accounting practices and previously reported financial statements as a result of possible errors discovered by management of the Company in the accounting for software development costs and project capitalization at its Digimarc ID Systems business unit. Management has presented its preliminary findings to members of the Company’s audit committee and, in consultation with and under the supervision of the Company’s audit committee, will be continuing its review of the Company’s accounting for software development and project costs at ID Systems. Management’s preliminary assessment is that certain software development costs have been improperly capitalized. These possible errors are estimated to be in the range of approximately $1.2 million to $2.0 million and may require a restatement of prior period financial statements from 2002 to 2004. Management is also reviewing other project cost capitalization accounting practices of ID Systems and this
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

case1_digimarc - PRESS RELEASES Digimarc Corporation...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online