The North Face, Inc. Extends Estimated Filing Date for its Annual Report on Form 10-K
PR Newswire - April 16, 1999 11:08
CARBONDALE, Colo., April 16 /PRNewswire/ -- The North Face, Inc. (Nasdaq: TNFI) announced today that it has not filed with the Securities and Exchange Commission its annual report on Form 10-K for the year ended December 31, 1998 because the annual audit by the Company's external auditors, Deloitte & Touche, LLP, is not complete. The Company and its auditors have made significant progress and are working diligently to complete the audit in an expeditious manner. The Company anticipates that it will file its 10-K on or before April 30, 1999.
The Company previously announced that it expected to restate its financial statements for the fiscal years ended December 31, 1997 and December 31, 1998 to reflect a reduction in revenue and net income. Until the audit is completed, the Company cannot finally determine the amount of any restatement, although it is likely that revenue and net income will be reduced to a greater extent than previously announced.
The Company also announced today that trading in its shares has been halted. |
