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Computer Sciences to restate results, pay $190 million penalty

December 29, 2014

To match Special Report SEC/INVESTIGATIONSTo match Special Report SEC/INVESTIGATIONS

(REUTERS) – Computer Sciences Corp on Monday said it will pay a $190 million penalty and restate three years of results to resolve a U.S. Securities and Exchange Commission civil probe into the information technologycompany’s accounting.

Computer Sciences (CSC) said there were accounting irregularities at its businesses in the Nordic region, Australia and its contract with the UK National Health Service.

After the restatement, CSC’s net income for will be reduced by about $3.69 billion for the year ending April 1, 2011, while net income will be increased by about $3.90 billion for the year ending March 30, 2012, among other changes.

The restatement will also reflect changes in CSC’s past impairment charges.