Hancock Fabrics, Inc. (NYSE: HKF), yesterday reported that the insurance carrier/administrator for Hancock's self-insured workers' compensation policy failed to bill Hancock fully for various claims related to plan years going back to 1993. Consequently, Hancock is revising its results for those years to reflect the additional liability, which totals $938,000 after tax over the entire ten-year period. The Company anticipates that the adjustment to net income in any one year will not exceed one cent per share, and will be reflected in an amended Annual Report on Form 10-K to be filed promptly w...
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