Corporate earnings restatements

Friday, June 30, 2006 at 04:51 PM

In what I hope is a "no comment required" piece, here are some recent news headlines on businesses restating earnings--many related to their "charitable" accounting for employee stock options, yet another field of scandal in 21st century American businesses.

Newpark fires two officers, will restate earnings
2TheAdvocate, June 30, 2006
(restated earnings from 2003 to 2005)

CA (the old Computer Associates) said this week that it may need to restate earnings from past years, in part because of the way it handled stock option grants to employees. ..., June 30, 2006

Rambus may restate earnings over option grants
MarketWatch, June 27, 2006
(may restate earnings because of "auditing discrepancies" in the area of employee stock options)

Altera to restate 10 years of earnings, June 21, 2006

ATS Medical to restate 2005, first-quarter 2006 results
Reuters, June 19, 2006

Hancock Fabrics to restate 2003-2005 earnings
Reuters, June 16, 2006

Hewitt may restate earnings in BPO unit
Monsters & Critics, June 16, 2006

Fannie Mae Advised To Restate Earnings, June 13, 2006