Around The Industry
Aquascape Announces 2007 Photo Contest
Aquascape, Inc., recently unveiled the rules for its annual photo contest. The 2007 Photo Contest features seven categories and more than $9,500 in cash prizes, including one $3,000 grand-prize winner.
The categories in this year’s contest are Outdoor Living, Winter or Fall, Waterfalls, People and Ponds, Container Water Gardens, Special Occasion, and Ponds and Critters. Contestants are encouraged to take their photos digitally or with a slide film to be eligible for the contest. Judging will be based on creativity and photo quality.
The contest runs through Sept. 30, 2007, with a discounted entry fee available for entries postmarked by Aug. 31, 2007. Entries will be judged and announced on www.aquascapeinc.com on or before Dec. 31, 2007.
Hines Horticulture To Restate Past Results
Hines Horticulture announced last month that on April 18, 2007, it received a Nasdaq Deteremination Letter that it is not in compliance with the requirements applied in Nasdaq Marketplace Rule 4310 (c)(14) because it did not file its annual report for 2006 on time.
The letter indicated the company’s securities are subject to removal from the Nasdaq Global Market unless Hines requests a hearing before a Nasdaq Listing Qualification Panel.
Hines said it will restate results for 2004, 2005 and the first three quarters of 2006 for accounting errors. According to Reuters, the company expects 2004 quarters to be impacted by an increase in costs of goods sold and a decrease in operating income, and fiscal 2005 and the first 3 quarters of 2006 to be impacted by a decrease in goods sold and an increase in operating income. Hines admitted to misstating inventory and costs of goods sold for 2004, 2005 and the first three quarters of 2006. The company has acquired a waiver from its lenders for delaying its results for 2006.
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