Tech Data Corp. (TECD) Thursday said it will restate its previously issued quarterly financial statements for the fiscal years 2011, 2012, and 2013.
The restatement is expected to reduce previously reported consolidated net income by approximately $25 million to $33 million, over the three fiscal year periods. The restatement is meant to correct improprieties related to how the company's U.K. subsidiary reflected vendor accounting.
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