WONDER AUTO (WATG) ANNOUNCES FINANCIAL RESTATEMENT. ROTH CAPITAL SAYS BUY ON WEAKNESSFont size: A | A | Aundefined undefined | S&P Marketscope SNPMarketScopeViewsNews2011-03-02 12:11:02.000WATGWONDER AUTO TECHNOLOGY, INC.STACY TROMBINOWONDER AUTO (WATG) ANNOUNCES FINANCIAL RESTATEMENT. ROTH CAPITAL SAYS BUY ON WEAKNESSAnalyst John Ma tells salesforce WATG announces that its 2008 and 2009 annual and qtrly reports would be restated to correct a cutoff error regarding the timing of revenue recognition. Co. expects adjustments will increase revenue, earnings, as new acctg treatment accelerates revenue recognition of two units. He considers restatement as benign and views any weakness associated with delayed filing of its 2010 Form 10-K as a buying opportunity. Once completed, believes co-audited finl statements will alleviate investor skepticism and enable multiple expansion.