Janus Capital Revises 2002 Diluted Earnings
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Janus Capital Group Inc., the mutual fund giant that was among the many big investors caught by surprise by Enron Corp.’s accounting scandal, had some accounting problems of its own in 2002: The firm said Wednesday that an error in bookkeeping meant per-share diluted earnings were understated.
Janus’ full-year diluted profit was 38 cents a share, not the 31 cents previously reported, the firm said. The adjustment was made because the firm didn’t apply correct accounting to some unvested, restricted shares given to employees.
There was no change in stated net income, Janus said. The firm’s shares eased 12 cents to $11.34 on the New York Stock Exchange.
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