Goodyear restates due to IT problems

FRAMINGHAM (10/24/2003) - The Goodyear Tire & Rubber Co. said it will restate its financial results dating back to 1998 because of errors caused by the faulty rollout of an accounting system based on SAP AG's software, plus processing mistakes on older billing systems. Akron, Ohio-based Goodyear expects to erase up to US$100 million in profits. The company blamed its implementation, not the SAP software. SAP said it's working with Goodyear to fix the accounting system, which was installed in 1999.

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