Informix Restates 3 Years’ Results Amid Probe

Informix Corp., cleaning out years of accounting “errors and irregularities,” restated its financial results for the last three years and took back $236 million in profit for the period. The database software company also said it is under investigation by the Securities and Exchange Commission because of its financial restatements. The Menlo Park-based company began a massive audit in August after management, led by new Chief Executive Bob Finocchio, discovered that revenue had been recorded for products that had not been sold to the final customer. Informix, once the second-biggest database software company, fell into turmoil this year after a bad bet on new database products resulted in plunging sales. The company’s collapsing financial results led to the resignation of then-Chairman and Chief Executive Phil White in early summer. Informix shares rose 47 cents to close at $8.03 before trading was halted on Nasdaq.