Strategic Diagnostics revises accounting policy for custom antibody projects following discussions with SEC (SDIX) 3.48 -0.08:Co announces as a result of discussions with the S.E.C the co determined on Dec 15, 2005 that a different method of accounting for recognizing rev for certain custom antibody arrangements should be used. Accordingly, the co's financial statements for the years ended Dec 31, 2004, 2003 and 2002, and as of and for the periods ended March 31, 2005 and 2004, June 30, 2005 and 2004 and Sept 30, 2005 and 2004 will be restated and such financial statements should no longer be relied upon. The co will change its revenue recognition policy for custom antibody projects to utilize a methodology based on when a project's specifications have been met and the related antibodies have been shipped, rather than on the percentage-of-completion methodology the co has used since 1996.
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