Business Services Industry
Farmers Branch, Texas, Software Firm Focus of SEC Query.
Knight Ridder/Tribune Business News, December, 2002
By Bill Deener, The Dallas Morning News Knight Ridder/Tribune Business News
Dec. 18--Carreker Corp. of Farmers Branch, a software and consulting company, said Tuesday that the Securities and Exchange Commission has begun an informal inquiry into the timing of some of its revenue.
The inquiry was prompted after the company announced Dec. 10 that it had "uncovered timing issues that may cause some revenue to be shifted to the subsequent quarter." A special committee of the company had been reviewing financial statements back to 1998, said Vickie Gorton, director of investor relations.
"We believe it is not uncommon to have an inquiry as a result of an announcement like that," Ms. Gorton said.
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