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More problems with CA's figures: On top of accounting woes already revealed, it reports stock-option irregularities, revenue understatement.
Publication: Newsday (Melville, NY) Publication Date: 30-JUN-06 |
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COPYRIGHT 2006 Newsday
Byline: Mark Harrington
Jun. 30--The accounting woes just won't stop plaguing CA Inc. - this time it's stock-option manipulation. Last night, as Wall Street prepared for a full explanation of accounting problems first disclosed in the spring, the former Computer Associates unleashed more bad news: two newly discovered problems including sizable stock-option irregularities dating back to 1997 that could force it to restate hundreds of millions in past results. CA also uncovered a $40-million revenue understatement that could lead to future revenue reductions through 2011. Both problems will force CA to yet again delay the release of its annual report, now expected to be ready by the end of July. CA also said it...
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