Ramtron International Corp. has replaced accounting giant KPMG LLC with Denver-based Ehrhardt Keefe Steiner & Hotman PC as its auditor for the current fiscal year, starting with first quarter financial results scheduled for release April 26.
The Colorado Springs-based semiconductor company said in a Securities and Exchange Commission filing that it had no disagreements with KPMG on "accounting principles or pratices, financial statement disclosure or auditing scope or procedure." Ramtron had hired Ehrhardt Keefe last year for $1,350 to consult on adopting new stock option accounting rules, which the company began using on Jan. 1, 2006.
Lee Brown, a Ramtron spokesman, said the move was among several initiatives under way by the company to improve efficiency. That means the new auditors are charging lower fees; but Ramtron hasn't yet disclosed how much, he said.