QRS Corp. (Nasdaq: QRSI) plunged 5 1/8 to 16 15/16 Tuesday after the company said its accountants had resigned.
Deloitte & Touche decided to stop being the company’s CPA firm on August 21st, QRS said in a Securities and Exchange Commission (SEC) filing Monday. The company noted that the firm did not issue an “adverse opinion” or disclaimer along with its audit of QRS’s latest financial results. A search for new auditors is underway, the filing said.
QRS, based in Richmond, California, provides e-commerce services to the retail industry. The company earned $1.3 million, or 8 cents per share, before items in the second quarter, down from $4.0 million, or 29 cents, in the same period a year earlier.