MapBiz: Intergraph Says Restructuring Not Finished

One day after issuing its earnings report for 2005, Intergraph filed Form 8-K with the Securities and Exchange Commission. In the form, the company said that its plan for streamlining its operations will not be finished until the second quarter of 2006. The firm also said its restructuring costs will be $19 to $21 million, not the $16.3 - $18.3 million it previously estimated.

If there is one thing that makes Wall Street nervous, it's companies that try to sneak out bad news right after trumpeting good news. Intergraph's stock price fell almost 2% today.