SAN JOSE, Calif. (AFX) - Programmable chip maker Xilinx Inc. said Tuesday it will delay releasing its first-quarter results until July 25, after the company is done investigating its stock option grants.
The company had previously been scheduled to report results on Thursday, July 20.
Xilinx is one of at least 60 companies who have either launched their own internal investigations or who are under investigation by the Securities and Exchange Commission or federal regulators for possibly backdating stock option grants to coincide with share price lows in order to boost profits when they're sold.
Shares of Xilinx were trading at $21.24 in the extended session, down 31 cents from Tuesday's closing price of $21.55 on the Nasdaq.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.