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BRIEFLY

Burroughs settled a dispute with the SEC.

March 22, 1985

The SEC charged that the company overstated its earnings for parts of 1981 and 1982. The agency ordered the computer and business machine producer to file amended reports reflecting a shift of $35.3 million in earnings from 1981 to 1982 and told the Detroit-based company to improve its auditing procedures. Burroughs agreed to the SEC administrative proceedings without admitting or denying any of the agency's findings. The revised statements ordered by the SEC will show that Burroughs' 1981 earnings were $218.8 million, a 13.9% decrease from the $254.1 million originally reported, and 1982 earnings were $110.4 million, a 47% increase from the $75.1 million reported originally.

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