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eastunder

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eastunder

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Re: None

Thursday, 10/23/2008 12:52:07 PM

Thursday, October 23, 2008 12:52:07 PM

Post# of 108
Cadence postpones third-quarter results to review accounting

By Wallace Witkowski

CDNS 2.50, -1.82, -42.2%) said late Wednesday that it is postponing the release of its third-quarter earnings to review accounting of its first-quarter revenue. Cadence said about $24 million that was placed in third-quarter revenue was recognized in first quarter of 2008. The company expects third-quarter revenue of $235 million to $245 million, and a loss of 25 cents to 27 cents a share, or an adjusted loss of 9 cents to 11 cents a share


Oh man! That's a big no no and a horrible "mistake".

Off with their heads!

"It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness;

-- Charles Dickens

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