Calgon Carbon to Restate 2005 Quarters

Calgon Carbon Corp. (CCC) said it will have to correct its previously issued financials for the first three quarters of last year due to invoice accounting errors, resulting in a bigger loss than reported.

Calgon said the restatement stems from a review of its invoices for certain legal services. The review identified invoices totaling $1.4 million that weren't recorded as expenses in a timely manner, Calgon said. [ more ]