Molex to restate results |
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Tue, 30 Jan 2007 16:42
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LISLE, Ill. (AFX) - Molex Inc., which makes electronic components, said Tuesday it will restate its results for the past three fiscal years as a result of stock-option misdating.The company said in a filing with the Securities and Exchange Commission it will amend its annual report for the fiscal year ended June 30, 2006 to restate its results for 2006, 2005 and 2004, and for each of the quarters in fiscal years 2006 and 2005.Molex said it also will amend its quarterly report for the period ended Sept. 30, 2006.The restatements will reduce Molex's net income for the 2002 to 2006 period by a total of $17,012.In August, Molex said it was reviewing its past practices related to grants of stock options. The company had found that the dates of some stock option grants differed from the dates such grants were approved.Molex shares fell 4 cents to $29.57 in morning trading on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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