Comstock Resources Inc. - Form 8-K Summary
Business Context and Reporting Period
Comstock Resources, Inc. filed this Current Report on Form 8-K on February 18, 2003. The filing announces financial results for the fourth quarter and the full year ended December 31, 2002. Additionally, the company disclosed a material restatement of financial results for the fiscal years 1998 through 2001.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are referenced as being contained in the press release filed as Exhibit 99.1, which is not included in the provided source text.
Material Changes and Restatements
- Restatement Scope: Comstock will restate financial results for fiscal years 1998, 1999, 2000, and 2001.
- Exclusions: The restatement will not impact the financial statements for the first three quarters of 2002.
- Future Filing: Restated financial statements for the affected annual periods will be filed in connection with the Annual Report on Form 10-K for the year ended December 31, 2002.
Outlook, Risks, and Management Commentary
Management commentary is limited to the announcement of the 2002 results and the necessity of the historical restatement. The filing does not provide specific forward-looking guidance, risk factors, or details regarding unusual items beyond the restatement itself.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated February 18, 2003) for specific 2002 financial results.
- Monitor the upcoming Form 10-K filing for the year ended December 31, 2002, to obtain the restated financial statements for 1998-2001.
- Investigate the specific accounting adjustments or errors necessitating the restatement of the 1998-2001 periods.