Flamemaster Revises Per-Share Earnings
Flamemaster Corp., a Sun Valley maker of flame-retardant coatings and seals, revised downward its previously reported per-share earnings for its past two fiscal years.
Flamemaster said it actually earned 25 cents a share for the year that ended Sept. 30, 1988, and 8 cents for the fourth quarter, instead of the previously reported 28 cents and 11 cents, respectively.
In the previous year, Flamemaster’s profit was 23 cents for the year and and 7 cents for the quarter, compared with the previously reported 28 cents and 10 cents, respectively.
Flamemaster said it revised the results to correct an error in how it treated certain dividends when it computed the earnings per common share. The company’s overall net income for all the periods involved was not affected.
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