On Jan. 31, 2006, BearingPoint announced that it had filed its 2004 financial statements and 2004 Form 10K with the Securities and Exchange Commission. For the year, the company said it had a net loss of $546 million on revenue of $3.38 billion. The company said it is focusing now on filing its amended 2004 10Q forms and its 2005 10Qs and 10K. It also said its goal is to be Sarbanes-Oxley compliant by the end of 2006. This story was reported and written before BearingPoint's Jan. 31 announcement.
Only a short time after Harry You, the former chief financial officer of Oracle Corp., was brought in as the new chief executive officer of BearingPoint last March, he announced that his first priority was to get the company's financial house in order. At the time, the global technology consulting firm and systems integrator hadn't announced its financials in almost a year. You conceded that BearingPoint would miss its May 10, 2005, deadline for filing 10Q quarterly reports with the Securities and Exchange Commission, but assured analysts that the company's financials would be released by the end of the summer.
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