April 4, 2018 / 10:37 PM / a year ago

GE to restate two years of earnings by April 13

FILE PHOTO: The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/File Photo

(Reuters) - General Electric Co (GE.N) said on Wednesday that it planned to provide restated results for 2016 and 2017 to reflect a new accounting standard by April 13.

The updated accounting standard takes into account revenue from long-term contracts, which are being scrutinized by the U.S. Securities and Exchange Commission.

GE had said in February that it expected to take a $4.2 billion accounting charge as it switches to the new standard.

The company also said it would report its first-quarter earnings on April 20 under the new standard and that it would have no impact on its 2018 forecast.

Reporting by Sanjana Shivdas in Bengaluru; Editing by Anil D'Silva

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