Cadence notices some 3Q sales already booked two quarters before(1)
A week after performing a nearly complete makeover of its executive suite, Cadence Design (Nasdaq: CDNS) said today that “it is reviewing, in conjunction with the company’s independent accountants and legal advisors, the recognition of revenue related to customer contracts signed during the first quarter of 2008.”
Cadence accountants happened to notice that $24 million of contract revenue in its recently completed third quarter was already recognized during its first quarter of the year. Oops. That already-recognized revenue should “have been recognized Read the rest of this entry »
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