WATERLOO, Ontario—Research In Motion Ltd. said it will delay filing its interim financial statements for the quarter that ended Sept. 2 until the company can complete its internal review of its historical stock-option practices.
The quarterly filing is due Oct. 17. The company did not give a date that it expects to file its second-quarter report.
RIM announced the internal investigation in late September at the same time that it released strong preliminary quarterly results.
The review is not complete, but the company said the audit committee has made a preliminary determination that GAAP accounting errors were made concerning certain stock options granted from 1998 on. The committee said a restatement of the company’s historical financial statements will be needed.
The company said the review also turned up an error related to the historical application of U.S. GAAP and Canadian GAAP accounting rules. RIM said it expects that error will require a further adjustment to historical financial statements.
