Admar Restates Its Earnings Figure

Admar Group Inc., the Orange-based health-care company that went public in September, said it has restated its earnings for the fiscal year ended Jan. 31.

The company said its net income for the year came to $264,217, down 54% from $574,720 for the previous year. Extraordinary credits of $101,300 for fiscal 1987 and $107,000 for fiscal 1986 are included in these figures.

Total revenues for fiscal 1987 were $7.7 million, nearly double the $3.9 million from the year before.

The restatement reduces the company’s previously reported net income by $500,000, while total revenues fell by $786,000. The revision was prompted by the discovery during the fourth fiscal quarter of “various oversights” in its figures, the company said.