This caught my eye in the 3Q2011 10Q form of Black Diamond Inc:
Here´s the explanation:
This means that the earlier accounts give a wrong image of the gross margins of the newly combined companies. It kind of makes you wonder if they did this on purpose. As this was not an IPO but a reverse merger, meaning that Warren Kanders is not incentivised to maximize the share price. Rather, by sending of pessimistic signals, he would be able to accumulate shares at a discount if valuations were lower.