Esterline Notice On Timing of Form 10-Q Filing
February 16 2018 - 6:00AM
Esterline Corporation (NYSE:ESL) (www.esterline.com) (“the
Company”), a leading specialty manufacturer serving the global
aerospace and defense markets, today confirmed that its Form 10-Q
for the period ended December 29, 2017 (the “Form 10-Q”), has not
been timely filed.
As previously disclosed in the Company's
earnings press release and associated Form 8-K dated February 1,
2018, and in a Form 8-K filed with the Securities and Exchange
Commission (the "SEC") on February 7, 2018, the Company is
investigating an accounting error identified in the Company’s
Sensors & Systems segment that will require a restatement of
financials for prior fiscal periods. The restated financials will
be included in an amendment on Form 10-K/A to the Company’s Annual
Report on Form 10-K (the “Form 10-K/A”) for the year ended
September 29, 2017. The Company is not able to complete and file
its Form 10-Q until after the Form 10-K/A is filed. Consequently,
the Form 10-Q was not filed by February 7, 2018, which was the SEC
deadline. The Company expects both the Form 10-K/A and the Form
10-Q to be filed by the end of March 2018.
Accordingly, the Company is not in compliance
with the New York Stock Exchange’s (the "NYSE") continued listing
requirements under the timely filing criteria established in
Section 802.01E of the NYSE Listed Company Manual. The NYSE has
informed the Company that it will regain compliance with the NYSE
listing standards when it files the Form 10-Q with the SEC within
the next six months.
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements relate to future events or the company’s
future financial performance. In some cases, you can identify
forward-looking statements by terminology such as “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “intend,”
“may,” “might,” “plan,” “potential,” “predict,” “should” or “will,”
or the negative of such terms or other comparable terminology.
These forward-looking statements are only predictions based on the
current intent and expectations of the management of Esterline, are
not guarantees of future performance or actions, and involve risks
and uncertainties that are difficult to predict and may cause
Esterline’s or its industry’s actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Esterline’s actual results and the
timing and outcome of events may differ materially from those
expressed in or implied by the forward-looking statements due to
risks detailed in Esterline’s public filings with the Securities
and Exchange Commission including its most recent Transition Report
on Form 10-K.
Contact:Investor Relations – John Hobbs Media – Michelle DeGrand
+1 425-453-9400
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