Netopia to Restate Past Financials, Auditors Resign

Netopia will restate its financial statements for the fiscal quarter ended June 30, 2002 and for each subsequent fiscal quarter and fiscal year through March 31, 2004, and also will revise previously released preliminary financial results for the third fiscal quarter ended June 30, 2004. Netopia also announced that KPMG LLP has resigned as its auditors.



Netopia said the known restatements principally involve the appropriateness and/or timing of revenue recognition relating to two software license transactions with a single software reseller customer. Further details are online. http://www.netopia.com