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Instem confirms revenue and profits from US NIEHS contract will be recognised in current year

The accounting treatment decided upon for the contract jibes with the line taken by investment analysts in their current year forecasts
Spreadsheet
As you were, investment analysts ...

Investment analysts who follow Instem Plc (LON:INS) will not have to revise their current year forecasts after the company tied up an accounting loose end.

Back in late March when it announced its 2016 results, the software group reported that a delayed order expanding the use of Provantis, Instem's primary pre-clinical software suite, at the US National Institute of Environmental Health Sciences (NIEHS), had recently been received and the bean counters were assessing the appropriate accounting treatment for revenue and profit recognition purposes.

Instem confirmed the contract revenues and profits from the order would be recognised in the current year, in line with the accounting treatments underpinning current market forecasts among the broking community.

Shares in Instem edged up 1.1% to 179.02p in a falling market.

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