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08/04/2006 09:56 AM ID: 56106 Permalink   

Apple Computer Inc Warns it will Have to Restate Profit


Apple Computer Inc has warned yesterday that it will have to restate its profits for the last four years. The company began investigating "irregularities" in its financial statements in June this year.

The statements in question go all the way back to the 29th of September, 2002. Over this period, Apple has mad some US$3.1 billion in profit, backed by strong sales of the company's iPod music player.

Apple is hoping to conclude the investigation into its accounting practices as soon as possible. The announcement did nothing to hurt the company's shares, although it was made after Wall Street closed.

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They found that 99.9% of the profit was from the IPOD only :)
  by: thedrewman   08/05/2006 06:30 PM     
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