KLA-Tencor to Restate

The company's options probe finds measurement date discrepancies.
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KLA-Tencor

(KLAC) - Get Report

said Thursday that it will restate its past financial results to correct its accounting for stock options.

The chip-equipment maker said it found that it used incorrect measurement dates for certain stock option grants, primarily during the periods from July 1, 1997 to June 30, 2002. The company expects to record charges for compensation expenses related to those grants.

KLA is one of dozens of companies ensnared in a controversy surrounding the so-called backdating of stock options. The company, which has delayed filing its fiscal 2006 annual report because of the probe, has received subpoenas from Justice Department lawyers requesting information pertaining to the grants.

KLA said it intends to file its restated results and annual report "as quickly as practicable."