Catapult Communications Changes Accounting Firms to Reduce Expenses |
(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)
Catapult Communications Corp.
160 S. Whisman Rd.
Mountain View, CA, 94041
USA
Press release date: January 4, 2008
Mountain View, CA-January 4, 2008- Catapult Communications Corporation (Nasdaq: CATT) today announced that, in order to significantly reduce its accounting expenses, it has dismissed its previous independent registered public accounting firm, Deloitte & Touche LLP, and has engaged the firm of Stonefield Josephson, Inc. The Company has had no disagreements with Deloitte & Touche LLP during their tenure.
The expenses that the Company incurred in connection with the audit and internal control review work performed by Deloitte & Touche LLP in fiscal year 2007 totaled approximately $1,076,000, and the Company estimates that these expenses would approximate $985,000 for the current fiscal year without a change in accounting firms. The Company and its Audit Committee believe that, by engaging Stonefield Josephson, Inc. as the Company's independent registered public accounting firm for the current fiscal year, the Company will realize significant savings on these expenses without negatively affecting the quality of the audit and related services. Based on estimates from the two firms, the Company currently believes that the potential savings for fiscal 2008 from the change in firms will be in the range of 43% - 49%.
About Catapult Communications
Catapult Communications is a leading supplier of advanced digital telecom test systems to global equipment manufacturers and service providers, including Alcatel-Lucent, Ericsson, Motorola, NEC, NTT DoCoMo, Nortel and Nokia Siemens Networks. The Catapult DCT2000® and MGTS® systems deliver superior high-end test solutions for hundreds of protocols and variants - spanning IMS, WiMAX, 4G/3G/2.5G/2G UMTS, VoIP, GPRS, SS7, Intelligent Network, ATM, ISDN and other network environments. The Company is committed to providing testing tools that are at the forefront of the telecom technology curve.
Catapult is headquartered at 160 South Whisman Road, Mountain View, CA 94041. Tel: 650-960-1025. International offices are located in the U.K., Ireland, Germany, France, Finland, Sweden, Canada, Japan, China, Australia, India and the Philippines. Information about Catapult Communications can be found on the Web at www.catapult.com.
Leigh Salvo Investor Relations (650) 314-1000 ir@catapult.com
|
|
|
|
|
|
|
|
|
|
|
| 
