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TOLEDO, Ohio (AP) - Auto-parts company Dana Corp., which said last month that it would restate its financial reports for 2004 and the first part of 2005, said on Tuesday that it also would restate reports from 2000 through 2004 because of an accounting requirement.
The Toledo-based company said the financial figures going back to 2000 can no longer be relied upon, but that the restatements will not change cumulative net incomes — only the timing of when it was reported.
Dana, which makes brakes, axles and other parts, said the accounting requirement was triggered by the company's earlier plans to restate earnings dating to the beginning of 2004 because of improper accounting for customer pricing and supplier transactions.
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