Thursday, January 19, 2006
Due to an accounting error, Agilent Technologies Inc. has restated its fiscal results for fiscal 2004, increasing its net income for the full year and the fourth quarter of that year by $20 million.
In documents filed Tuesday (Jan. 17) with the U.S. Securities and Exchange Commission, Agilent (Palo Alto, Calif.) said it understated its estimate of U.S. jurisdictional loss for fiscal 2004 and the correction resulted in the recognition of an additional tax benefit associated with the loss and a corresponding additional income tax expense.
The restatement increased the company's net income for the fourth quarter of fiscal 2004 from $74 million to $94 million.
By: DocMemory
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