Stock Options delayed

Well the SEC did vote to delay the implementation date of SFAS 123(R), I guess we will start seeing a lot of press releases like this:

RehabCare Group Inc. (RHB) said Monday that it will take advantage of a delay allowed companies to begin treating stock options as an expense against earnings.

In a Securities and Exchange Commission filing, RehabCare said the deferral means its 2005 financial results won't include an expected pretax expense of $4.2 million, or 15 cents a share after tax, from the change to stock-option expensing.

The St. Louis-based provider of rehabilitation program management services has said it expects earnings per share for the year to be $1.43 to $1.58, including the effect of the accounting change.

As reported, the SEC decided last week to give most companies added time to implement an accounting standard requiring treatment of stock-option expenses as a charge against earnings. Until the SEC acted, companies would have had to begin counting stock options as a compensation expense for fiscal periods beginning after June 15. Now most companies, including RehabCare, can delay the accounting change until January 2006.

RehabCare said based on the SEC's decision and potential added guidance from the accounting rulemaking body, the company will defer options expensing to "ensure that its accounting systems and reporting practices will fully comply with the standard."

I don't get it - how has the company been able to provide stock option for the footnote but not for its income statement?