“Apple Computer Inc. on Friday told securities regulators its quarterly report would not be filed on time as it reviewed stock-options grants, a delay that had been expected after a company announcement last week,” Reuters reports.
“On August 3, Apple said it would likely need to restate earnings and delay its filing its report with the SEC because of the options review, adding that its financial communications issued since September 29, 2002, should not be relied on,” Reuters reports.
Reuters reports, “Apple said on Friday it expected “significant changes” to its results from operations for its fiscal third quarter, ended July 1, 2006, according to a filing with U.S. Securities and Exchange Commission.”
Full article here.
Related articles:
Some stock options grant decisions were made by Apple board, and potentially, CEO Steve Jobs – August 10, 2006
Disney: no material impact from Pixar options – August 09, 2006
Pixar options draw scrutiny – August 08, 2006
Apple stock options scandal? What scandal? – August 07, 2006
Class action lawsuit over stock options filed against Apple Computer, Inc. – August 04, 2006
Wall Street forgiving of Apple’s stock option irregularities; CEO Jobs unlikely to be terminated – August 04, 2006
Apple’s stock option irregularities escalate into a scandal as world awaits Steve Jobs’ WWDC keynote – August 04, 2006
Apple warns of profit restatement dating back to 2002 – August 04, 2006
Apple loses 3.5% to $67.15 in premarket trading – August 04, 2006
Apple announces update regarding stock option grants – August 03, 2006
Shareholder’s options suit against Apple alleges ‘striking pattern that could not have been chance’ – July 11, 2006
Apple announces update regarding stock option grants – July 05, 2006
UBS: stock options probe unlikely to hurt Apple – June 30, 2006
Apple joins growing list of companies entangled in stock option ‘irregularities’ – June 29, 2006
Apple to investigate stock option grant ‘irregularities’ made between 1997 and 2001 – June 29, 2006
I want to hear the part about the significantly increased revenues. heh. That’s what’s likely to count and I suspect everybody knows it.
Who does their accounting?
Don´t tell me they are using a Windows program to do their accounting.
Yeah, that´s a good excuse!
This is nasty, if they’ve screwed up revenue projections, there will be a significant loss in investor confidence…
I don’t think Apple would be using Arthur Andersen to handle their books.
The deal here is that many companies are going through the same problem. Whether it is bad accounting or deliberate corruption at work, it’s good that this mess is being exposed. For too long many corporations have followed in the idea that they are immune from certain laws and or the fact that they can hide things like Enron did. Well, guess what? NO MORE. Apple is still considered to be one of the most ethical companies out there. I don’t think they are going anywhere soon and I think that shareholders have an obligation to let these corporations know that they want operations performed in a moral and ethical manner.
Loss of investor confidence? Gimme a break. Like the investors don’t dump the stock anyway at almost every hint of good news? The investors have been steadily shitting on Apple, and shitting on Apple and then shitting on Apple some more. The only thing they were confident about was that they could keep shitting on Apple indefinitely without it hurting anything. And if that’s the kind of confidence that gets lost .. well, good riddance to them and their bad judgement.
Investors are shitting on AAPL?
August 11, 2003 AAPL = $10
August 11, 2004 AAPL = $17
August 11, 2005 AAPL = $45
August 11, 2006 AAPL = $63
All prices are split adjusted and rounded to nearest dollar
from .. an optimist, I guess. k. that’ll work for me.
picture
when big companies short on Apple’s stock they will do everything possible to bring in the negative news. you cant fight them, they are big, they have billions at stake, they wouldnt mind spending a few millions to promote negative news.