Date: May 22, 2003
Source: News Room
U S Liquids Inc. (Amex: USL), a provider of liquid waste management services, announced that its Form 10-Q for the quarter ended March 31, 2003 will not be filed until the company has completed its internal investigation of accounting issues at one of its business units. On April 29, the company announced that, due to improper recording of job costs and certain other items at one of its business units, the company intends to restate its results of operations for the years ended December 31, 2000, 2001, and 2002. Company officials said that it appears that the operating income of the business unit was overstated in the aggregate amount of $2.1 million over a three-year period from 2000 through 2002.
More information: www.usliquids.com.
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