September 23, 2003

It seems like CKE Restaurants (CKR) , which owns 3,300 restaurants, including Hardee’s and La Salsa Fresh, made a mistake when it filed its 10-Q last month. Make that 9 mistakes, although it’s more if you really start counting. In an ammended 10-Q filed yesterday, the company gave a 9-point explanatory note on the various problems with the 10-Q it filed just a month earlier. Now, a few of the corrections appear to be minor wording issues. But the company notes that at least five mistakes were made on revenue recognition and expenses, which are much harder to forgive.

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