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Ciphergen s Investigation Into Revenue Issues Holds Up Q3 Financials

NEW YORK, Nov. 7 (GenomeWeb News) - Ciphergen said today that its audit committee is investigating the recognition of around $500,000 in sales recorded in the second quarter.

 

As a result, the company, which has enlisted the help of undisclosed "external accounting advisors," said it is delaying the release of its third-quarter financial results.

 

Last Wednesday, a notice on Ciphergen's web site said the company planned to issue its third-quarter earnings the following day. However, that notice had been removed when a GenomeWeb News reporter revisited the site on Thursday. A Ciphergen spokeswoman said last week the notice had been posted on the web site in error.

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