|16:01 ATML Atmel says actual measurement dates for certain stock options differed from the recorded measurement dates for such stock options (5.52 -0.10) |
Co provided additional information regarding the status of the ongoing independent investigation of the co's stock option grant practices. Based on the Audit Committee's preliminary determination, the co expects that the difference in these measurement dates will result in material non-cash, stock-based compensation expenses. Any such charges would have the effect of decreasing net income or increasing net loss and increasing accumulated deficit as reported in the co's historical financial statements. The co expects to reflect the impact of the adjustments to those prior periods as an adjustment to the opening balances as of January 1, 2003 in the financial statements for the restatement period. Because the Audit Committee's investigation is ongoing, it has not identified all stock options for which the accounting measurement dates may have been incorrectly determined. As a result, the co has not determined the final aggregate amount of additional stock-based compensation expenses that may need to be recorded or the amount of such expenses that may need to be recorded in any specific prior period or in any future period. Further, there can be no assurance that no other matters will come to the attention of the Audit Committee during the course of its investigation that will require additional adjustments to the co's financial statements.