Apple Delays Filing Annual Report

 
 
By Scott Ferguson  |  Posted 2006-12-15 Email Print this article Print
 
 
 
 
 
 
 

The company tells the SEC that it will need more time to file the report, following an internal investigation into how stocks were awarded to company executives.

Apple Computer has told the U.S. Securities and Exchange Commission that it will delay filing its annual report as the company continues to investigate how stocks were distributed to top executives. In the Dec. 14 filing with the SEC, Apple executives said that following an internal investigation into the backdating of stock options, the company will have to restate some of its past earnings.
On Oct. 4, the company announced the result of its internal investigation that found some irregularities in how stocks were granted to top employees between 1997 and 2002.
Former Apple Chief Financial Officer Fred Anderson resigned from the board of directors the day the findings were released and CEO Steve Jobs apologized. Click here to read more about Apples internal investigation.
Apple announced on Oct. 18 that its fourth-quarter financial results showed the companys revenue grew 31 percent. Those numbers were helped by strong sales of the Macintosh line of PCs and the iPod music player. In the filing with the SEC, Apple officials wrote that it would file its annual report for the fiscal year that ended on Sept. 30 within 15 days. Check out eWEEK.coms for the latest news, reviews and analysis on Apple in the enterprise.
 
 
 
 
 
 
 
 
 
 
 

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