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General Automation Won't File U.S. Report

ORANGE COUNTY BRIEFLY

December 31, 1998|P.J. Huffstutter

General Automation Inc., an Irvine-based provider of software support services, said Wednesday it won't file its annual financial report to federal regulators because the company's new independent audit firm has not finished its audit. The firm expects to report a loss for its fiscal year ended Sept. 30 that will be "significantly greater" than the net loss of $514,000 it reported for 1997, according to filings with the Securities and Exchange Commission. General Automation did not disclose further financial details. In October, General Automation named its third outside auditor in less than two years, tapping Cacciamatta Accountancy Corp. of Irvine. Previous auditor McGladrey & Pullen, citing errors in General Automation's internal accounting system, withdrew and restated its 1997 financial reports for the firm. Price Waterhouse LLP, another former auditor, also withdrew.

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