BENSALEM, Pa., Dec. 12, 2008 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces that it is investigating potential claims against Integral Systems, Inc. ("Integral Systems" or the "Company") (Nasdaq:ISYS) concerning possible securities violations in relation to public statements made by the Company between April 28, 2008 and December 10, 2008.
The investigation focuses on the Company's December 11, 2008, announcement that the unaudited financial statements of the Company for the interim periods ended December 31, 2007, March 30, 2008 and June 30, 2008, should no longer be relied upon due to an error in the accounting treatment for certain transactions with respect to the timing of revenue recognition during those periods. The Company further disclosed that, as a result, the Company would restate its previously filed financial statements for those interim quarterly periods in fiscal year 2008. The Company estimated that the net impact of the adjustments for the first three quarters of 2008 would result in a decrease of approximately $10 million in revenues, a decrease of approximately $3 million in gross profit, a decrease of approximately $4 million in operating income, and a decrease of approximately $0.13 in earnings per share.
If you purchased Integral Systems' common stock between April 28, 2008 and December 10, 2008, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com.