Move restating $3.7 mil in expenses prior to earnings release

05 Nov 2009

Realtor.com operator Move Inc. disclosed this week that a software program error cause the firm to underestimate the cost of providing company stock as compensation to its employees. The $3.7 million error occurred from January 2006 through June 30, 2009.  The programming glitch — which reportedly involved erroneous assumptions about whether employee stock options would vest or be forfeit

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Sharon Hill

Sharon Hill has been a senior writer / analyst with the AIM Group since 2004, except for a two-year time-out to serve as sales and marketing manager for Suburban Newspapers of America. She worked at newspapers in California, the Carolinas and Indiana as a classified advertising sales supervisor and manager, and in newspaper circulation in Alaska. At the SNA, she was responsible for bringing in new members; lining up exhibitors, and helping develop programs for the classified conference and the classified alliance. She is also co-author of “Implementing and Managing Telework: A Guide for those who make it Happen” (Praeger Press) and a prolific blogger and social media user. She is based in Phoenix.