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  1. Technology
July 19, 1998


By CBR Staff Writer

Dutch software vendor The Baan Company NV has revised downwards its figures for revenues and net income in the first quarter to conform with Securities and Exchange Commission. The changes, which resulted in the new income for the three months to 31 March going from $2.4m to $2.136m, were related to compliance with US GAAP accounting procedures, according to a spokesperson for the company, but did not affect the earnings per share, which continued at $0.01. The changes also brought the figures in line with the SEC filing for all of last year. The company’s ADR traded down 0.73% or $0.31.3 in early trading in New York at $42.50.

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