Rochester,NY 7/10/2009 11:21:55 PM
Afternoon Stock Report - CHINA - CDC says 'material weaknesses' are fixed - Sourced WhisperFromWallStreet.com
CDC Corp.
Afternoon Stock Report - CHINA - CDC says 'material weaknesses' are fixed - Sourced WhisperFromWallStreet.com
CDC Corp. CHINA
Chinese online gaming and software company CDC Corp. has hired enough personnel to ensure that its financial reports are accurate, it said Thursday.
The company filed its 2008 annual report on Tuesday, stating that the "material weaknesses" that existed in its financial reporting structure in 2007 have been fixed.
The weaknesses were mainly due to the lack of personnel with the right skills and experience to handle tax accounting, treasury transactions and financial reporting, the Hong Kong-based company said.
CDC previously restated its results for 2003 to 2005 because of the lack of personnel.
CDC shares fell 8 cents, or 5.2 percent, to $1.47 in morning trading
Last Trade: 1.44
Day's Range: 1.38 - 1.46
52wk Range: 0.65 - 3.17
Volume: 128,987
ABOUT - CDC Corp. CHINA
CDC Corporation operates as an enterprise software and media company. Its Software segment offers enterprise software applications and related services. The software suite includes enterprise resource planning, customer relationship management, supply chain management, order management systems, human resources and payroll management, and business intelligence products. This segment's products are designed to support and automate the processes of an organization to help achieve company-wide integration of business and technical information across multiple divisions and organizational boundaries, such as finance, manufacturing, logistics, human resources, marketing, sales, and customer service.
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