Dell Will Restate

Updated from 4:34 p.m. EDT

Dell(DELL Quote) will restate more than four years of financial reports after an in-house probe revealed evidence of adjusting accounts in order to meet financial targets.

The PC maker said it expects the restatements to knock $50 million to $150 million off the restatement period, which comprises fiscal years 2003 to 2006 and the first quarter of fiscal 2007.

Dell expects that net revenue for each annual period will be cut by less than 1% of the previously reported revenue for the period. ...