TRANSFORM LOGIC <TOOG> REVISES RESULTS DOWNWARD
Transform Logic Corp said it
has revised downward its previously reported fourth quarter and
year, ended October 31, results to reflect compensation expense
for employee stock options.
    The company said resolution of this disagreement with its
auditors came as a result of Securities and Exchange Commission
involvement. The company will amend its option-granting
procedure to conform to the SEC decision which will eliminate
future charges, it added.
    Transform said its fourth quarter profit was revised to
305,082 dlrs, or two cts a share, from the previously reported
580,955 dlrs, which left the company with a fiscal 1986 loss of
249,814 dlrs, or two cts a share, instead of the reported
26,195 dlrs profit.
 Reuter
