Tuesday, August 9, 2005

Kintera To Restate Results, Postpones Results

San Diego-based Kintera said yesterday that it is delaying the release of its financial results for Q2 due to a pending restatement of results. The company said that it would be restating its first quarter 2005 results, and would be amending its 10-Q from last quarter. Kintera said that its restatement is due to the reclassification of certain capitalized software development cost, and will result in an increase in net loss and net loss per share for the first quarter. Kintera develops online solutions targeted at nonprofits.

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