Friday, August 11, 2006
Apple Computer Inc. told securities regulators its quarterly report would not be filed on time as it reviewed stock-options grants, a delay that had been expected after a company announcement last week.
On Aug. 3, Apple said it would likely need to restate earnings and delay its filing its report with the SEC because of the options review, adding that its financial communications issued since Sept. 29, 2002, should not be relied on.
Apple said on Friday it expected "significant changes" to its results from operations for its fiscal third quarter, ended July 1, 2006, according to a filing with U.S. Securities and Exchange Commission.
The company said it expected significant increases in revenue and expenses for the third quarter but could not provide estimates because of an expected restatement of prior periods to account for irregularities in past stock-based compensation.
By: DocMemory
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