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August 18, 2014
08:31 EDTFNFabrinet postpones Q4 earnings release due to audit committee investigation
Fabrinet announced that during the fourth quarter of the fiscal year ended June 27, certain accounting issues were discovered by management, which prompted the Audit Committee to commence an internal investigation. The Audit Committee is investigating whether there were any violations of the company’s accounting policies associated with these potential accounting matters. The company has also notified the SEC of the Audit Committee’s investigation. The Audit Committee has not reached any conclusion because the investigation is ongoing, and the company cannot predict the outcome of the investigation or when it will be completed. The company is also currently evaluating whether there may be any deficiencies with the company’s disclosure controls and procedures and internal control over financial reporting. As a result, the company is postponing its fourth quarter and fiscal year 2014 earnings release and conference call, which had been scheduled for August 18. Fabrinet will announce such results as soon as practicable following the completion of the Audit Committee’s investigation.
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