Dana to restate earnings after accounting errors

”Axle maker's mistakes involve customer prices and supplier deals; shares fall 34 percent.”

http://www.detnews.com/2005/autosinsider/0510/11/C05-344263.htm

By Jeff Bennett / Bloomberg News

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TOLEDO -- Dana Corp., the biggest maker of light-truck axles, said it will restate earnings for 2004 and this year's first half because of accounting errors, and delayed its third-quarter results. The shares fell 34 percent, their steepest drop in at least 25 years.

The errors involved customer prices and supplier transactions in its commercial-truck parts business, the Toledo-based company said in a statement Monday. Dana indefinitely postponed its third-quarter release and withdrew its profit forecast for this year.

Dana first announced its accounting investigation and slashed its 2005 forecast on Sept. 15.

"Less than a month ago they made an earnings revision and now they taking it completely off the table, which points to a management team that is trying to get its arms around what's going on in the business," said Brett Hoselton, a KeyBanc Capital Markets analyst in Cleveland.

昨日の続きだが、この会社は軽トラのアクセルを作る会社なんだ。

The errors involved customer prices and supplier transactions in its commercial-truck parts business,

とは具体的にはどういうことだったのだろうか？

Excess inventory and higher prices for steel have eroded Dana's earnings for the past four quarters

すごく基本的なことかもしれないけど、在庫過多はＰ＆Ｉに影響することをアタシは忘れていたことに気がついた。