During 2015 and 2016, the company reported inflated income and earnings per share results, the SEC said. At times, the changes made it appear that Interface had met or exceeded analysts’ consensus estimates for company results, an important achievement for some investors. The adjustments did not comply with generally accepted accounting principles, according to the SEC.
Interface, which makes carpet tiles, said that, while it consented to the SEC order that states the company was negligent, it neither admits nor denies any wrongdoing. In a corporate filing, it said it has improved “internal controls and its accounting and finance functions to prevent these types of issues from occurring again.”