Auto and truck parts maker Dana Corp. (DCN), which finished an internal investigation that found accounting problems, said Friday it restated financial results from 2000 through the first two quarters of 2005, reducing net income by some $44 million.

Dana said in a filing with U.S. regulators that it inappropriately recognized price increases and supplier reimbursement costs in its truck parts unit and did not account properly for steel surcharges.

Dana expects to report third-quarter results in early January. The restatements covered the first half of 2005, 2002 through 2004, and some results from 2001 and 2000.

The Toledo, Ohio-based company last week said it expected to file the restatements with the Securities and Exchange Commission by the end of the year. Auditors identified several material weaknesses in its internal controls.

In October, Dana said accounting problems would force it to restate results and withdrew earnings forecasts for 2005. It had lowered forecasts under pressure from production cuts at U.S. automakers and rising materials costs.

The company makes axles, driveshafts and other components for cars and trucks. Its biggest customers are Ford Motor Co. (F) and General Motors Corp. (GM) which accounted for 25 percent and 11 percent of 2004 sales, respectively.

Dana's initial disclosure came on Oct. 10, just two days after Delphi Corp., the largest U.S. auto parts maker, filed for bankruptcy protection.

Later in October, Dana warned of a significant 2005 loss from restructuring charges and the write-off of U.S. deferred tax assets, and said it planned to exit three businesses and cut up to 5 percent of its salaried staff in a restructuring.

The filing of the restatements cured a default in certain debt covenants, and the filing of its third-quarter results in early January would cure other potential defaults, which lenders had waived previously, Dana said.

Dana said it is in discussions with lenders on possible changes to its facilities, or alternative financing.

Shares of Dana were up 5 cents at $7.14 Friday on the New York Stock Exchange.