Shares in International Rectifier Corp. lost nearly 8 percent Monday after the company disclosed that an internal audit committee had found that one of its foreign units misstated sales, forcing the company to restate past results.

The El Segundo-based semiconductor maker said its results for the previous year can no longer be relied upon due to “premature” recognition of sales, adding it will now have to restate its earnings.

No specifics were given about the matter, but the company did say the mistakes will cause the company to reschedule a meeting with analysts it had planned for May 11 and would also likely cause a delay in the company’s filing of third-quarter results.

The company didn’t identify the foreign unit and would not speculate about when the investigation could be completed.

Shares in International Rectifier were down $3.05, or 7.9 percent, to $35.75 in afternoon trading Monday on the New York Stock Exchange.