WALTHAM, Mass., March 21, 2017 /PRNewswire/ -- Alere Inc. (NYSE:
ALR) (the "Company") announced today that, as a result of its
failure to timely file its Annual Report on Form 10-K for the
fiscal year ended December 31, 2016
(the "Form 10-K"), it has received a notice from the New York Stock
Exchange (the "NYSE") that the Company is not in compliance with
the NYSE's continued listing requirements under the timely filing
criteria established in Section 802.01E of the NYSE Listed Company
Manual.
As previously disclosed, the reason for the delay is that the
Company is continuing to review certain aspects of revenue
recognition at its Korean and Japanese locations, including
inappropriate conduct at the Company's subsidiary in South Korea, Standard Diagnostics, Inc. The
Company will not be able to file the Form 10-K until this analysis
is completed. The Company will file the Form 10-K as soon as
practicable.
The NYSE informed the Company that, under the NYSE's rules, the
Company will have six months from March 16,
2017 to file the Form 10-K with the SEC. The Company can
regain compliance with the NYSE listing standards before that date
by filing the Form 10-K with the SEC.
About Alere
Alere believes that when diagnosing and monitoring health
conditions, Knowing now matters™. Alere delivers reliable and
actionable information by providing rapid diagnostic tests,
enhancing clinical and economic healthcare outcomes globally.
Headquartered in Waltham, Mass.,
Alere focuses on rapid diagnostics for cardiometabolic disease,
infectious disease and toxicology. For more information on Alere,
please visit www.alere.com.
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Readers can identify these statements by
forward-looking words such as "may," "could," "should," "would,"
"intend," "will," "expect," "anticipate," "believe," "estimate,"
"continue," "goal," "can" or similar words. A number of important
factors could cause actual results of Alere and its subsidiaries to
differ materially from those indicated by such forward-looking
statements. These factors include, but are not limited to,
(i) the risk that the review discussed above is not completed
in a timely manner; (ii) the possibility that the review
discussed above uncovers a misstatement or misstatements in revenue
recognition that are greater than the ranges provided above, which
may be material in amount, or uncovers misstatements with respect
to other matters; (iii) the risk that this review uncovers
misstatements that impact total amount of revenue reported;
(iv) the risk that the revenue recognition investigation will
uncover circumstances that require additional material weaknesses
in internal control; (v) the risk that these or other risk
factors impact the expected timing of the filing of the Form 10-K
for the year ended December 31, 2016 and (vi) the risk
factors detailed in Part I, Item 1A, "Risk Factors" of our
Annual Report on Form 10-K for the fiscal year ended
December 31, 2015 (as filed with the SEC on August 8,
2016) and other risk factors identified herein or from time to time
in our periodic filings with the SEC. Readers should carefully
review these risk factors, and should not place undue reliance on
our forward-looking statements. These forward-looking statements
are based on information, plans, goals, and estimates at the date
of this report. We undertake no obligation to update any
forward-looking statements to reflect changes in underlying
assumptions or factors, new information, future events or other
changes.
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SOURCE Alere Inc.