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July 29, 2013
19:53 EDTOFIXOrthofix delays Q2 earnings release
Orthofix International announced that it is postponing the release of its financial results for Q2 and its previously announced conference call to discuss such results, including managementís Business Analysis and Key Strategic Initiatives Update, originally scheduled for July 31. The company stated that the audit committee of its board, on the recommendation of management, and after discussion with the companyís independent auditors, concluded that additional time is needed to review matters relating to revenue recognition for prior periods. The audit committee has commenced an independent review into these matters, with the assistance of outside professionals. The audit committee cannot predict the length of time or outcome of its review. The company does not expect to file its quarterly report by the August 9 deadline. At this time, the company is not providing annual or quarterly guidance for FY13.
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