Sentence examples for restatement after from inspiring English sources

The swap of long-term power contracts helped assuage El Paso's auditor, PricewaterhouseCoopers, which had suggested a possible restatement after finding that the company's first-quarter profit had been overstated by as much as $100 million.

Word that the company was considering a restatement came after the close of stock trading yesterday.

The restatement comes after a federal grand jury last month subpoenaed documents and testimony about Westar's chief executive, David Wittig, and the use of corporate aircraft.

"The copies in question were distributed as a packaged promotion with paid-for newspapers and the restatement comes after lengthy discussions with the ABC about the ABC Rules," the company explained.

Even worse than the additional restatements -- after Interpublic had assured investors, analysts and employees in November that the figure of $181.3 million would be final -- top executives warned of possible additional write-downs in the current quarter along with further layoffs, and they lowered their forecasts for revenue and net income per share for 2003.

The restatement would come after months of denials by the company that its accounting practices were too aggressive, even after Tyco's former management was charged with stealing more than $600 million from the company by misappropriating its funds.

The net loss for last year's third quarter narrowed to $1.66 billion, from $1.8 billion, after the restatement.

It said that after the restatement, revenue for the third quarter of 2002 would be $1.3 million.

At Citigroup, the policy also states that it will move to recoup pay called into question after a restatement.

It also resulted in the resignation of Barry Zwarenstein, its chief financial officer, who will leave his post after a restatement of earnings is completed.

[Page C8.] The restatement of earnings came after a hectic week at the company in which its auditors at PricewaterhouseCoopers -- which had already certified its 1999 financial results -- asked questions about how the company justified reporting revenue so quickly from some contracts it had signed.