MIAMISBURG, US (August 17) - Sporting goods company Huffy Corp. said on Friday it would review accounting entries for the first quarter and also the second quarter of 2004 and file amended financial statements as soon as practicable. Huffy said that it expects to post a loss for the first quarter.
In May, Huffy delayed its first-quarter earnings report for at least the third time saying that it had hired a third party for an independent review of asset valuations.
The company was also in the news lately for facing a possible de-listing from the New York Stock Exchange because its total market capitalization fell below $50 million for the 30 days ended July 21. Shares of Huffy were closed 9 % lower at 59 cents on the New York Stock Exchange.(MH)