SCO restates its results

SCO restates financial results after accounting errors

The SCO Group, now de-listed from the Nasdaq stock exchange, last week re-stated its financial results for the first three quarters of the 2003-2004 financial year, following accounting errors.

The main errors relate to the way stock-based compensation to employees was shown in the accounts.

The technical software company said the resulting changes in the re-statement do not affect its previously reported operating performance.

The full year ended 31 October, but SCO still has not posted its results for the last quarter, which is also believed to be affected by similar accounting errors.

Because it did not post its results for the full year in time, it was de-listed from the Nasdaq exchange last month.

SCO is to meet Nasdaq officials in mid-March to discuss the issue in an attempt to win reinstatement to the securities exchange.

SCO is engaged in a multi-billion dollar lawsuit against IBM which, it claims, misused some of its Unix code in Linux products. IBM denies the claims.

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