Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (60806)	2/21/2002 2:30:59 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Computer Associates Says It's Unaware Of Probe host.wallstreetcity.com ISLANDIA, NEW YORK, Feb 20, 2002 (Newsbytes via COMTEX) -- Computer Associates [NYSE:CA] says that, if its accounting practices are being investigated by federal prosecutors, it's news to officials at the company's Islandia, N.Y., headquarters. Responding to press reports that an assistant U.S. attorney for the Eastern District of New York had begun a probe of the way the software giant logs revenue and profit, Computer Associates issued a statement early today saying it had no knowledge of any investigation. "We have not been contacted by the authorities regarding any investigation and do not know what, if anything, is being investigated," the company said. "The reporting of our financial results has always been in accordance with all applicable accounting principles." Two New York newspapers, Newsday and the New York Times, reported that the U.S. attorney's office may want a closer look at Computer Associates' brand of pro forma financial reporting. Many companies report pro forma results that they say help investors to better gauge financial performance by making adjustments for such events as the sale or acquisition of business units, extraordinary gains or losses on investments and changes in methods of accounting for revenue and expenses.