Saying it has discovered “errors” related to leasing transactions, Internap announced Thursday it was delaying financial reports for the fourth quarter and 2004.

“Like many other publicly traded companies, the company recently reviewed its accounting practices with respect to leasing transactions,” Internap said in a statement. “During the course of this process, errors were discovered relating to the company’s historical accounting for leasehold improvements, lease expense and other depreciation matters. These errors affect approximately 28 leases, 22 of which were entered into in 2000 and in prior years. The company is in the process of determining the magnitude of these errors.”

Internap (AMEX: IIP) is a provider of Internet-based services.

Internap: www.internap.com