Feeds

CA to restate five years of figures

Oh, and it's filed Q4 results

  • alert
  • submit to reddit

SANS - Survey on application security programs

Computer Associates says it will have to restate five years of its accounts, according to reports, following the discovery of a number of "improper" contracts on its books. The software maker also said it will likely defer filing its annual accounts for 15 days.

The news comes less than a year after the conclusion of a very long-running accounting scandal which saw the company fined, have to restate $2.2bn of earnings, and watch its former CEO, Sanjay Kumar, face charges of fraud and obstruction of justice.

The company struck a deferred prosecution deal with the government during the investigation of the accounting scandal, and this requires it to go back over its books, to look for any more anomalies. It found several, including swap agreements with third parties that serve no apparent commercial purpose, and alterations to licence agreements that resulted in early booking of revenue, Reuters reports.

The restatements will cost the company between $80m and $110m in revenue, and around $15m in net income, the wire service reports.

The company also reported a fall in net income for Q4 due to tax on repatriated foreign earnings. CA said it earned $17m in the quarter ended 31 March, down from $89m a year ago. Total revenue was up, however, to $910m. For Q4 2004, this figure was $850m.

The request for a delay in filing its annual report is in line with several other companies, following a tightening of regulatory requirements in the US this year. ®

Related stories

CA's $35m tax charge hits net income
CA reorganisation puts emphasis on security
Novell man reappears at CA
CA re-organises management

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.