MADISON, Wis.--(BUSINESS WIRE)--TomoTherapy Incorporated (NASDAQ:TOMO), producer of the Hi·Art® treatment system for advanced radiation therapy in cancer care, today announced it is restating its financial statements for the year ended December 31, 2008. Management and the Audit Committee of the Board of Directors concluded that the Company’s 2008 financial statements should not be relied upon due to errors relating to the accounting for income taxes, including a potential overstatement of the valuation allowance. The Company is currently investigating the identified errors and the underlying causes for such errors, and intends to file an amendment to its 2008 Form 10-K, which will contain restated financial statements as of and for the year ended December 31, 2008.
