Epicor Software Corp., a manufacturer of business software for midsized companies, announced that it has completed a financial restatement for 2003 and 2004, and said that, separately, it would lower its profit expectations for 2006.

Epicor launched a review of its revenue recognition policies in regard to determining vendor-specific objective evidence of fair value for software license agreements -- specifically, the recognition and allocation of revenues from certain licensing and maintenance agreements. Following the accounting review, Epicor and its audit committee decided to make a change to the revenue classifications.

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