The Americanization of NDS1/19/2005 3:52 AM Eastern
NDS Group plc is switching its accounting allegiance.
The News Corp.-owned company said Wednesday that due to its parent company’s reincorporation from Australia to the United States, it will now use accounting principles generally accepted in the United States (U.S. GAAP), as opposed to U.K. GAAP.
The supplier of open end-to-end digital pay TV solutions for the secure delivery of entertainment and information to television set-tops and Internet-protocol devices will also adopt the U.S. dollar as its reporting currency.
And NDS is now required to present quarterly and annual financial information on Securities and Exchange Commission Form 10-Q and Form 10-K, respectively.