Wednesday, July 19, 2006
Rambus said Wednesday it expects to restate previous financial statements, incurring what it said would be "significant" expenses to correct errors reporting stock-based compensation.
The company said its audit committee determined that the actual measurement dates for some stock option grants differed from the recorded grant dates for those awards. It said it planned to restate results for the fiscal years 2003 to 2005, along with the first fiscal quarter of 2006.
Rambus said the audit committee has not completed its work and hasn't figured out how much the additional expenses will total. But it said it has determined that the expenses arising from the investigation, the restatement and related activities would be "significant."
By: DocMemory
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