View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
November 3, 1997updated 03 Sep 2016 7:33pm


By CBR Staff Writer

S3 Inc, maker of multimedia acceleration hardware and software, says it will have to restate revenue downward for prior quarters by a cumulative $40m to $70m. The Santa Clara, California company estimates the restatement will result in a decline in related earnings per share of between $0.14 to $0.29 for the affected quarters. This action comes as a result in material errors in the timing of its recognition of sales to certain international distributors. The company’s accounting policy allows for the recognition of revenue only after the product is sold by the distributor to the end user. Although some revenue for some inventory still in the channel was recognized prematurely, S3 expects the bulk of the revenue from that existing inventory to be recognized in the fourth quarter of 1997. á

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.