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Apple to Restate Some Historical Results [Update]

Apple to Restate Some Historical Results [Update]

by , 10:55 AM EDT, August 11th, 2006

Apple Computer confirmed during a meeting with the Securities and Exchange Commission on Friday that it will most likely have to restate some historical financial statements. According to MarketWatch, Apple stated that it will record non-cash charges for compensation expenses associated with past stock option grants.

The company also won't be able to file Form 10-Q for its fiscal third quarter on time due to an ongoing internal financial investigation. Apple has not yet revealed which quarters will need to be restated, or how much those changes will be.

Apple said that it is working as quickly as possible to complete its investigation and file Form Q-10. Apple previously announced that it may have to restate certain financial statements on August 4.

Apple stock is currenty trading at US$63.80, down 0.27 (0.42%).

[Update: The article was updated to more accurately report the contents of the filing. - Editor]


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