Computer Associates International Wednesday filed restated financial results with the U.S. Securities and Exchange Commission for all but one of its fiscal years between 2000 and 2005, reporting changes that boosted revenues during the period but also raised pretax compensation expenses.
In accordance with an SEC rule that went into effect April 1 that requires public companies to expense stock options granted to employees, CA increased its pretax compensation expenses by US$126 million (AU$167.5 million) in fiscal 2003, US$88 million in 2004 and US$39 million in 2005.
CA also said it incorrectly recorded total revenue for certain contracts that were renewed prior to their stated expiration date. Changes to those figures boosted the company's revenue by US$30 million in fiscal 2003, US$21 million in 2004 and US$15 million in 2005. CA said it will reduce its projected revenues for fiscal years 2006-11 by a total of US$80 million.
The restated results do not affect CA's cash flow.
The Islandia, N.Y.-based enterprise software maker, which was mired in a long-running accounting scandal, also provided audited financial statements for fiscal years 2000 and 2001 that verified restatements of those years' results, including an April 2004 change that boosted its net revenue for fiscal 2001 by US$558 million.