General Electric Co. on Friday said it was restating earnings from 2001 through the first quarter of 2005 after an internal audit found that its accounting for certain financial transactions did not comply with accounting standards.
GE, whose businesses range from financial services to the manufacture of jet engines, said the restatement lowered 2005 first-quarter earnings by $78 million, or 1 cent per share, to 37 cents per share, Reuters reported.
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