BearingPoint Files 2004 Form 10-K
05/02/2006
BearingPoint, Inc. (NYSE:BE), the leading global management and technology consulting firm, today said that it has filed its 2004 financial statements and 2004 Form 10-K with the Securities and Exchange Commission.
McLean, Va., January 31, 2006 – “We are pleased to close the books on 2004 following the painstaking review of almost five years of financial results,” said Harry You, BearingPoint’s chief executive officer. “The good news is that with this significant work behind us, we will now move forward with the filing of our amended 2004 Form 10-Q’s and our 2005 financial statements and focus 100 percent on the operations of our business and serving our global client base.”

BearingPoint will host a conference call to discuss the filing today, January 31, 2006 at 6:00 p.m. EST. To participate on this call, please dial: 1-800-399-6696 (+1 706-679-7614 outside the United States, Puerto Rico and Canada) approximately 15 minutes before the scheduled start of the call. Alternatively, to listen to the live call, please go to the Investor Relations section of BearingPoint's website at www.bearingpoint.com. A replay of the conference call will be available online at www.bearingpoint.com and via telephone by dialing 1-800-642-1687 (+1 706-645-9542 outside the United States, Puerto Rico and Canada) and entering conference code 4107851 from 9:00 p.m. EST Tuesday, Jan. 31 through 11:59 p.m. EST on Monday, Feb. 13.

About BearingPoint, Inc.

BearingPoint, Inc. (NYSE:BE) is the leading global management and technology consulting firm, providing strategic consulting, application services, technology solutions and managed services to Global 2000 companies and government organizations. We help customers achieve results by identifying mission critical issues and implementing innovative and customized solutions designed to generate revenue, reduce costs and access the right information at the right time. Our proprietary research institute, the BearingPoint Institute, demonstrates the firm's commitment to analyzing and responding to issues with a thoroughly researched and informed perspective. Based in McLean, Virginia, BearingPoint has been named as one of Fortune's Most Admired Companies in America for three consecutive years. For more information, visit the Company's website at www.BearingPoint.com.


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Some of the statements in this press release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements relate to the Company’s operations that are based on its current expectations, estimates and projections. Words such as “should,” ”work,” “continue,” “expects,” “projects,” “estimates,” “plans,” “preliminary” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or the Company’s future financial performance that may not prove to be accurate. The forward-looking statements in this press release include, without limitation, statements about the Company’s operating results and financial condition, actions to remediate internal control deficiencies and delays in filing reports on a timely basis with the Securities and Exchange Commission (“SEC”).

Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made and represent only management’s good faith assessment of the matters discussed based on information currently available to it, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual outcomes, results and future trends may differ materially from the forward-looking statements for many reasons, including: any direct or indirect impact of the matters disclosed in this press release on the Company’s operating results, financial condition or stock price; the Company’s inability to file its SEC reports on a timely basis; any adverse report or decision from any federal or state government or agency, including the Defense Contract Audit Agency, relating to its audits or reviews of the Company’s contracts and systems that could reduce the Company’s ability to obtain new government business or require the refund of payments received on government contracts; the outcome of the pending SEC investigation; competitive pricing pressures and their impact on our billing rates; the business decisions of the Company’s clients regarding the use of its services and the potential need to use subcontractors to complete certain engagements; the timing of projects and potential terminations based on contractual rights; the Company’s ability to address liquidity concerns; the availability of surety bonds, letters of credit or bank guarantees supporting client engagements; the impact of adverse rating agency actions; the Company’s ability to retain the listing of its common stock on the New York Stock Exchange; the availability of talented professionals to provide the Company’s services or any significant attrition of the Company’s talented professionals; the pace of technology change; the strength of the Company’s joint marketing relationships; the actions of the Company’s competitors; changes in spending policies or budget priorities of the U.S. government in light of the large U.S. budget deficit and competing budget requirements (such as those due to Hurricane Katrina or the Iraqi conflict); the Company’s inability to use losses in some of its foreign subsidiaries to offset earnings in the United States; the Company’s inability to accurately forecast the Company’s results of operations and the growth of its business; changes in, or the application of changes to, accounting principles or pronouncements under accounting principles generally accepted in the United States, particularly those related to revenue recognition; difficulties relating to changes in the Company’s management; and the outcome of pending and future legal proceedings.

In addition, the Company’s results and forward-looking statements could be affected by general domestic and international economic and political conditions, uncertainty as to the future direction of the economy and vulnerability of the economy to domestic or international incidents, as well as market conditions in the Company’s industry. The Company cautions the reader that the factors the Company has identified above may not be exhaustive. The Company operates in a continually changing business environment, and new factors that may affect the Company’s forward-looking statements emerge from time to time. Management cannot predict such new factors, nor can it assess the impact, if any, of such new factors on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those implied by any forward-looking statements.

For a more detailed discussion of the risk factors affecting the Company, readers are directed to the Company’s annual report on Form 10-K for the year ended December 31, 2004 and the Company’s reports filed on Form 8-K with the SEC.



For Media:
Steve Lunceford
BearingPoint, Inc.
Tel. 703-747-4545
E-mail: Steve.Lunceford@BearingPoint.com

Elliot Sloane
Sloane & Company
Tel. 212 446-1860
E-mail: esloane@sloanepr.com

For Investors:
James Hart
BearingPoint, Inc.
Tel. 908-607-2262
james.hart@bearingpoint.com

Francesca Luthi
BearingPoint, Inc.
Tel. +44 (870) 1451270
Francesca.luthi@bearingpoint.com