China Valves Technology Announces Change in Its Fiscal Year
China Valves Technology, Inc. (NASDAQ: CVVT) today announced a change in its fiscal year end from December 31 to September 30. This change will be effective September 30, 2011.
China Valves expects to report its financial results for a nine-month transition period of January 1, 2011 through September 30, 2011 on an Annual Report on Form 10-K. The first 12-month fiscal year will run from October 1, 2011 through September 30, 2012. The Company will provide comparative financial information to assist in period-to-period comparisons. The change in fiscal year end has been made because the first quarter of the calendar year is inefficient for the audit work due to the Chinese New Year holidays.
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