Magal Security Systems (MAGS) Reports Corrected Q3 2011 Earnings Figure
Magal Security Systems Ltd. (NASDAQ: MAGS) today announced that it is correcting its reported earnings per share for the quarter ended September 30, 2011 to $0.51 per share from $0.61 per share, and for the nine months ended September 30, 2011 to $0.48 per share from $0.52 per share as previously reported on November 29, 2011.
The correction is due to a computational error in calculating the number of shares issued during the period with respect to the Company's successful rights offering.
The number of basic and diluted shares reported for the third quarter was corrected to 13,944,880 from 11,579,325. For the nine month period ended September 30, 2011, basic and diluted shares were corrected to 11,587,103 from 10,794,696.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
The correction is due to a computational error in calculating the number of shares issued during the period with respect to the Company's successful rights offering.
The number of basic and diluted shares reported for the third quarter was corrected to 13,944,880 from 11,579,325. For the nine month period ended September 30, 2011, basic and diluted shares were corrected to 11,587,103 from 10,794,696.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
You May Also Be Interested In
- UPDATE: Bristow Group (BRS) Reports Better-Than-Expected Q4 Results; Offers FY13 Outlook
- UPDATE: Stein Mart (SMRT) Reports Q1 Adj-EPS of 32c, Beats by 2c
- UPDATE: Lowe's (LOW) Beats Q1 Views Amid Lagging Seasonal Demand; Issues Light FY12 Earnings Outlook
Create E-mail Alert Related Categories
EarningsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
