Latest Apple SEC filing draws confusion
The wording of Securities and Exchange Commission filing made by Apple Computer on Friday sparked concerns amongst the investor community because it included references to revenue changes for the company's most recent fiscal quarter.
In actuality, the filing offers no new information from what Apple had previously disclosed in recent press releases related to its ongoing stock grant irregularities. The filing is simply a formal quarterly assessment required by the SEC when a corporation is unable to file its quarterly 10-Q report by a prescribed due date.
In the document, Apple is explaining that when filed, its report for the quarter ending July 1, 2006 will include significant increases in revenue and expenses when compared the company's year-ago quarter — not that there will specific changes to the figures reported for the quarter ending July 1, 2006.
In a press release earlier this month, Apple said its ongoing investigation into the company's stock grant issues had turned up additional evidence of irregularities and therefore the company would delay the filing of its Form 10-Q for the quarter ended July 1, 2006.
As part of the same release, Apple also said it will likely need to restate its historical financial statements to record non-cash charges for compensation expense relating to past stock option grants.
10 Comments
"Quick, Robin... to the Wu-mobile!" - Shaw Wu (aka Wu-Man)
^
Though worded weirdly, it's still a red flag. An increase in revenues might not necessarily offset the increase in expenses. For example, suppose they say "We made $12 million more in X revenue for the July quarter, but restated expenses are actually $89 million higher than before," that'd be quite a black eye. I guess we have to keep an eye on this.
Though worded weirdly, it's still a red flag. An increase in revenues might not necessarily offset the increase in expenses. For example, suppose they say "We made $12 million more in X revenue for the July quarter, but restated expenses are actually $89 million higher than before," that'd be quite a black eye. I guess we have to keep an eye on this.
I believe that WallStreet has priced the worst, except for Steve getting fired, into the stock so I am all for getting this behind us so the stock price can take off. I fully believe that there are so many up indicators that they have not had time to shine due to this, when everyone is curtain that this is behind AAPL then the stock could jump due to the, thusfar, muted news.
this could be a good thing for inverester
if you buy the tough and wait for this to pass could be 1 year could be 2 you could make yourself a nice nest egg
now to find someone with more money than sense and... ...... ..