Home > News > Gennum Corporation Reports Second Quarter 2007 Results
June 28th, 2007
Gennum Corporation Reports Second Quarter 2007 Results
Abstract:
As a result of the new accounting standards adopted in 2007, our
investment in Nanoscience is recorded on the balance sheet at its market value
of $2.5 million. A $0.7 million loss was recorded to the opening balance of
"accumulated other comprehensive loss" (note 7 of the financial statements) to
reflect the adjustment of the investment at December 1, 2006. There was a gain
on the investment of $0.1 million recorded to other comprehensive income in
the first half of the year to reflect an upward movement in market value. The
shares of Nanoscience are traded on the AIM exchange in London, England in
British pounds and are therefore subject to foreign exchange fluctuations.
Source:
newswire.ca
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