After a row with its auditors over a $5m contract, Cambridge, Massachusetts-based Pegasystems Inc have been forced to restate its second quarter results – which it says also had an impact on the third quarter. It says that it took advice from the auditors before signing the contract – then was surprised to get a […]
After a row with its auditors over a $5m contract, Cambridge, Massachusetts-based Pegasystems Inc have been forced to restate its second quarter results – which it says also had an impact on the third quarter. It says that it took advice from the auditors before signing the contract – then was surprised to get a revised assessment from the auditors which shifts the $5m from the second quarter to 21 future quarters. The company, which develops customer service management software, is now recruiting a new firm of accountants. The company recorded a loss of $1.3m for the nine months to September 30 compared with a profit of $3.6m for the same period last year on revenue which rose 12% to $23.5m.
