Dell Climbs Out Of Accounting Hell |
| Forbes - Oct 31, 2007 |
Now that Dell has filed long-overdue, restated financial reports, it's hoping it can get back to business as usual.
The computer maker said after the close Tuesday that it was reducing earnings by $92 million for the period of fiscal year 2003 through the first quarter of 2007, less than its worst-case estimate of $150 million. It said it believed it would now be in compliance with Nasdaq regulations, and it plans to resume share buybacks after it files third-quarter earnings in November.
Dell filed the restated results with the U.S. Securities and Exchange Commission after a yearlong probe into accounting errors and irregularities. Dell spent $205 million on the investigation, spokesman David Frink said. Dell still faces shareholder lawsuits and an ongoing probe by the SEC. Federal prosecutors in New York have also subpoenaed documents on the company's financial reporting.
Read Full Article from Forbes
- Posted: 2007-10-31 10:45:17
| More Stock Investor Place Financial News |
 |
|
|
|
| Stock Investor Place Financial News Archive |
|
|
|
