Auric Goldfinger's Short List Message Board

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Non-Tech : Auric Goldfinger's Short List

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To: scion who wrote (11704)	6/2/2003 4:58:10 PM
From: StockDung	of 19428

ut-oh->IBM Says SEC Investigating How It Booked Some Revenue (Update1) (Adds IBM's comment in third paragraph.) June 2 (Bloomberg) -- International Business Machines Corp., the world's biggest computer maker, said its revenue recognition is being investigated by the Securities and Exchange Commission, possibly because of a probe of one of the company's customers. The commission is seeking information on how IBM booked sales in 2000 and 2001, IBM said in a statement. The probe probably is related to a separate SEC investigation of a customer of IBM's Retail Store Solutions unit, Armonk, New York-based IBM said. IBM said its accounting complies with all regulations and the company is cooperating with the SEC. Shares of IBM fell $1.33 to $86 in extended trading after the report. They had declined 71 cents at 4 p.m. in composite trading on the New York Stock Exchange.

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