Sanmina May Restate Earnings After Probe

Sanmina-SCI Corp. said it probably would restate earnings for the last three years after an internal probe of options grants.

Quarterly profit statements and news releases dating to Sept. 29, 2002, should no longer be relied upon, San Jose-based Sanmina said Wednesday in a regulatory filing.

More than 125 companies have disclosed federal or internal investigations into whether they improperly backdated stock option grants. In backdating, companies date options to make them appear as if they were granted on days with low stock prices. That would give recipients a built-in profit.

Western Digital Corp., Openwave Systems Inc. and Aspen Technology Inc. said Wednesday that they had delayed filing annual reports pending their own options investigations.

Lake Forest-based Western Digital, which makes computer disk drives, said in a statement that it may need to make a material adjustment to results before fiscal 2005.

Software maker Openwave of Redwood City, Calif., said in a regulatory filing that it hadn’t determined whether its probe would have any effect on its financial statements.

Cambridge, Mass.-based Aspen said it probably would file its report for the fiscal year ended June 30 by Sept. 28.