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Post Falls Staffing Firm Command Center Restates Earnings for 2010, Part of 2011

Spokane Spokesman-Review (Washington) (04/11/12)

Command Center Inc., a Post Falls, WA-based staffing firm, plans to restate its financial statements for 2010 and 2011 due to an incorrect overstatement of prepaid insurance policy deposits, according to a Form 8-K filed with the U.S. Securities and Exchange Commission. Glenn Welstad, Command Center chairman and chief executive, says, “The restatement does not reflect any trends in Command’s business or any current or prospective impact on the company’s results of operations; nor does it impact compliance with our debt covenants.” The restatement is expected to boost earnings per share for the third quarter of 2011 by $0.01, and the accumulated deficit for the period ended Dec. 31, 2010, will rise by $716,000.