Answerthink sees year-end cash balances of $15 mln to $20 mln
Dec 18 (Reuters) - Answerthink Inc ANSR.O said it expects its year-end cash balances to be $15 million to $20 million, excluding its investment in a fund, which would be liquidated by Bank of America (BAC.N: Quotazione).
Bank of America's decision to liquidate the Strategic Cash Portfolio, in which the consulting firm had invested $8.2 million, will not have any material impact on its operating plans, Answerthink said in a statement.
The investment resulted in an unrealized loss of about $80,000, the company added. (Reporting by Nachiket Kelkar in Bangalore; Editing by Deepak Kannan)
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