Simclar, Inc. Announces Delay in Filing of Second Quarter Form 10-Q
August 14 2008 - 11:51AM
PR Newswire (US)
HIALEAH, Fla., Aug. 14 /PRNewswire-FirstCall/ -- Simclar, Inc.
(NASDAQ:SIMC), a multi-plant electronics contract manufacturer,
announced today that it will be unable to timely file its quarterly
report on Form 10-Q for the quarter ended June 30, 2008, due to
potentially significant problems arising as a result of the
implementation of a new ERP software system within its Mexican
subsidiary. While the Company's investigation of the matter is
continuing, it is confident that the problems are confined to the
second quarter and do not materially affect the results reported
for any previous accounting period. The Company's efforts to
identify and address these problems have necessarily affected its
ability to prepare and file on a timely basis its Report on 10-Q
for the quarter ended June 30, 2008, both because of the diversion
of the time and effort of its management to the identification and
correction of the problems, and because such corrections may affect
the preparation of its financial statements for the second quarter.
Statements in this news release, which relate to other than
strictly historical facts, such as statements about the Company's
plans and strategies, expectations for future financial
performance, and markets for the Company's products and services
are forward-looking statements. The words "believe," "expect,"
"anticipate," "estimate," "project," and similar expressions
identify forward-looking statements that speak only as of the date
hereof. Investors are cautioned that such statements involve risks
and uncertainties that could cause actual results to differ
materially from historical or anticipated results due to many
factors including, but not limited to, the Company's customer
concentration, debt covenants, competition, and other risks
detailed in the Company's most recent Annual Report on Form 10-K
and other Securities and Exchange Commission filings. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements. Visit Simclar, Inc. at its website,
http://www.simclar.com/ for more information about the Company.
DATASOURCE: Simclar, Inc. CONTACT: Stephen P. Donnelly of Simclar,
Inc., +1-305-556-9210 Web site: http://www.simclar.com/
Copyright
Simclar (CE) (USOTC:SIMC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Simclar (CE) (USOTC:SIMC)
Historical Stock Chart
From Sep 2023 to Sep 2024