LONDON, June 28 (Reuters) - U.S.
office equipment company Xerox
XRX.N said on Friday it expected a
revenue restatement of around $2
billion over the five year period
between 1997 and 2001.

"Xerox expects its revenues to be
restated by around $2 billion over
the five year period,"
spokeswoman Christa Carone told
Reuters.

She said she could not comment
further after a Wall Street Journal story claimed the total amount of
improperly recorded revenues over the five-year period from 1997
through 2001 could be more than $6 billion.

Xerox is soon expected to file restated sales and earnings for the 1997
to 2000 period after the U.S. Securities and Exchange Commission found
in April the company had improperly accounted $3 billion of sales and
$1.5 billion of earnings over the four-year period.

The company is busy restating its 2001 accounts according to a new
methodology.


Quelle: Reuters

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