Ex-Accounting Exec at Symbol Pleads Guilty

Former Symbol Technologies Inc. Chief Accounting Officer Robert Korkuc pleaded guilty to criminal fraud and conspiracy for overstating earnings to meet analysts’ forecasts, federal prosecutors said.

The U.S. attorney and the Securities and Exchange Commission said they are continuing to investigate accounting practices at Symbol, the world’s largest maker of bar-code scanners.

Holtsville, N.Y.-based Symbol has said it expected to complete by June 30 a restatement of earnings from 1998 through the first quarter of 2003.

The SEC also filed a civil complaint against Korkuc, 40.

Trading in the company’s stock, which was halted on the NYSE, resumed after the SEC’s announcement. Symbol shares fell 37 cents to $14.23.