Feeds

Bull says accounting error rumours are, er, bull

Speeds divestment

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

French computer maker Bull has denied reports that it found an accounting error which inflated its net cash position by 100 million euros ($93 million).

"Following recent announcements in the press, Bull would like to state that the published results were not caused by an accounting error," the company said.

It went on to add that "during a recent update (in its accounts) some weeks ago, an error was corrected which didn't significantly impact the situation of the company". There were no details on the size of the cock-up.

The statement followed a report in today's The Wall Street Journal that a mistake in Bull's accounts caused the artificial net cash inflation, though it is unclear how this error was spotted or where it originated.

Meanwhile, Bull is looking at offloading its CP8 smart card business sooner than expected. The sale is now tipped to take place in the next two weeks instead of at the end of February, according to the WSJ, and Bull wants to flog the whole lot, instead of keeping a minority stake.

It hopes to sell the CP8 business for more than 500 million euros, though it would be willing to take a lower offer, a source familiar with the situation blabbed.

Last month Bull warned it expected to post a loss of between 100 million euros and 150 million euros for the year 2000. ®

Related Stories

Bull scores Itanium server architecture from NEC
Bull splits to tackle poor sales
L&H files for Chapter 11

New hybrid storage solutions

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.