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Pinnacle Micro Inc.: Shares of the Irvine...

Pinnacle Micro Inc.: Shares of the Irvine maker of optical data-storage systems fell 17% Thursday after the company delayed reporting its second-quarter earnings. Pinnacle, which went public in June, 1993, did not release earnings when expected, but will release them by Aug. 15, said Scott Blum, the executive vice president.

He added that the company is considering changing next year the last day of its fiscal year to June 30 from Dec. 31. As a result, its auditor, Ernst & Young, is doing a more in-depth study of the company’s 1994 performance to date than normal. The delay gave investors cause for concern, and the stock tumbled $2.75 in Nasdaq trading Thursday to close at $13 a share.


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