Feeds

Apple may need to restate last 15 quarters

Stock options probe 'likely' to warrant restatements

The Essential Guide to IT Transformation

Apple is "likely" to restate its financial results from 29 September 2002 onwards following the discovery of further evidence of "irregularities" concerning stock options granted between 1997 and 2001, the company warned yesterday.

The Mac maker announced in June that it was commencing a third-party led independent investigation into the mishandling of the options awarded to top executives. The probe will cause the delay of the formal submission of Apple's Q3 results to the US Securities and Exchange Commission, the company also said yesterday.

That implies the numbers may have to be changed, a likelihood signalled by the announcement that the company may have to restate all its quarterly figures from Q1 FY2003 - the quarter that kicked off on 29 September 2002 - onwards. Apple's choice of words suggests it almost certianly will post new figures from then to now.

The announcement will fuel the lawsuits already underway against the company, filed in the light of its June revelation by investors who reckon they lost out as a result of the company's actions. ®

Boost IT visibility and business value

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.