Argent Capital Corrects Earnings Statement

Argent Capital Corp. said it has restated its first-quarter earnings, more than doubling its loss, to correct errors in the financial statements of a company that Argent acquired.

The net loss increased to $587,891 from $287,978, according to Argent, the Huntington Beach-based owner of diagnostic imaging and physical rehabilitation centers.

The company attributed the one-time restatement to errors discovered in the financial statements of Clearview Capital Corp., a lender that Argent acquired in March. Clearview now operates as Argent Mortgage Corp.

The error also reduced the purchase price. Argent paid 1.5 million shares of common stock, down from 1.85 million shares for Clearview, which was acquired from Clearview Holding Corp.