Lasertec Says Its Inventory Valued Properly, Actis Orders Strong

Lasertec says it’s accounting practices are proper, responding to allegations of fraud made in a report published by short-seller Scorpion Capital.

• Both sales and orders of its Actis series of products in the nine months to March have already exceeded the previous business year’s 12-month performance, Lasertec said in a statement
• Products are assembled at customers’ facilities, where they are customized according to client specifications, co. said
• That fab-lite business model is why products are not booked as finished goods and are counted as work-in-process until customers sign off, under standard accounting practices, co. said
• Conducts periodic physical inventory checks ...