CNET News.com: "Yahoo on Tuesday posted a first-quarter net income that was down from a year ago on higher stock compensation expenses but was in line with analyst expectations.
Net income, including $71 million of stock compensation expense, was $160 million, or 11 cents a share, recorded under a new fair-value method. That compares with a year-ago figure of $138 million, or 9 cents per share, under the fair-value method--or $205 million, or 14 cents a share, recorded under the old intrinsic-value method--and when Yahoo had $6 million of stock compensation expense, the company said.
Yahoo adopted new accounting rules this year that require all companies to record stock compensation expense at fair value in the income statement. Previously, Yahoo only recorded the intrinsic value of awards, if any, in the income statement and disclosed stock compensation expense on a fair-value basis in the footnotes to the financial statements. Yahoo has not restated previously announced results."
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