CIMdata PLM Industry Summary Online Archive
14 March 2006
Financial News
Intergraph Files Form 10-K for 2005; Final Audited Results Slightly Adjusted from Unaudited Results Announced on January 25, 2006
Intergraph Corporation announced the filing of its Form 10-K for the year ended December 31, 2005. Intergraph has received unqualified opinions on its financial statements and on management's assessment of the effectiveness of its internal controls over financial reporting under Section 404 of Sarbanes Oxley Act of 2002 from its independent registered public accounting firm.
The final audited results for 2005 are slightly adjusted from the unaudited results announced on January 25, 2006. In the fourth quarter of 2005, revenue was reduced by $792,000, income from operations was reduced by $558,000 and net income was reduced by $361,000 or $0.01 per diluted share. The primary causes of the change relate to certain international shipments that were not delivered timely due to customs and carrier delays and incorrect information provided by an unrelated third party relative to intellectual property royalty income. The Company and its Audit Committee have concluded that these items are immaterial to the previously released unaudited 2005 financial results. However, since they were known prior to the filing of the audited financial statements, they have been reflected in the Annual Report on Form 10-K.
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