BELLEVUE, Wash.-Western Wireless Corp. said it was delaying the release of its third-quarter financial results until Nov. 8 after determining that the accounting for certain direct labor costs associated with network construction at its international operations should have been capitalized. The carrier was originally scheduled to release its third-quarter results today.
Western Wireless said the correction is expected to result in an increase to consolidated net income for the years 2001 through 2004. The carrier also noted that the correction would reduce net income for 2003 but increase net income this year by the same amount.
In addition, the carrier is evaluating whether certain other adjustments recorded during 2001, 2002 and 2003 should have been recorded in a different period, and it plans to amend its 10-K report for 2003 and 10-Q report for the first and second quarters of this year.
