OCZ Announces Filing Extension for Form 10-Q and Revised Q2 Revenue Estimate

Stefan Mileschin · 11th October 2012, 07:17

OCZ Technology Group, Inc., a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced that it will file a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission that allows the Company to extend the deadline to file its Form 10-Q for the second quarter of fiscal year 2013 (Q2'13), which ended on August 31, 2012. With this extension, if the Form 10-Q is filed by October 15, 2012, the Form 10-Q will be deemed to be timely filed.

The Company's financial statements are still under review. The Q2'13 revenue will be materially lower than the September 5th preliminary revenue range of $110 to $120 million. This new revenue estimate and filing delay is principally due to the impact of customer incentive programs which were discovered subsequent to the preliminary announcement during the normal close process, and which the Company will be reporting as a material weakness in its Form 10-Q. The Company also expects to report negative gross margins and a significant net loss for Q2'13 and will hold a conference call today at 7:00am Pacific Time (10:00am Eastern Time).

http://www.techpowerup.com/173478/OC...-Estimate.html

11th October 2012, 07:17	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,500	OCZ Announces Filing Extension for Form 10-Q and Revised Q2 Revenue Estimate OCZ Technology Group, Inc., a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced that it will file a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission that allows the Company to extend the deadline to file its Form 10-Q for the second quarter of fiscal year 2013 (Q2'13), which ended on August 31, 2012. With this extension, if the Form 10-Q is filed by October 15, 2012, the Form 10-Q will be deemed to be timely filed. The Company's financial statements are still under review. The Q2'13 revenue will be materially lower than the September 5th preliminary revenue range of $110 to $120 million. This new revenue estimate and filing delay is principally due to the impact of customer incentive programs which were discovered subsequent to the preliminary announcement during the normal close process, and which the Company will be reporting as a material weakness in its Form 10-Q. The Company also expects to report negative gross margins and a significant net loss for Q2'13 and will hold a conference call today at 7:00am Pacific Time (10:00am Eastern Time). http://www.techpowerup.com/173478/OC...-Estimate.html

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
FBI finally goes digital, Mulder and Scully start throwing out the filing cabinets	Stefan Mileschin	WebNews	0	1st August 2012 11:16
Pantech FCC filing hints at LTE Breakout successor for Verizon Wireless	Stefan Mileschin	WebNews	0	19th April 2012 06:16
Revised Acer Aspire S3 Pictured	Stefan Mileschin	WebNews	0	7th March 2012 06:45
Alienware announces X51 small form factor gaming PC, starting at $699	Stefan Mileschin	WebNews	0	18th January 2012 07:04
Plextor announces M3 Pro SSD with 24nm flash and 7mm form factor	Stefan Mileschin	WebNews	0	12th January 2012 07:05
Thermalright Intros Revised Archon CPU Cooler	Stefan Mileschin	WebNews	0	18th October 2011 06:23
Revised GeForce GTX 590 Cards In June	jmke	WebNews	0	16th May 2011 09:32
VIA Announces Pico-ITX Form Factor	jmke	WebNews	0	20th April 2007 10:49
AMD Announces Development of DTX Form Factor	jmke	WebNews	0	10th January 2007 10:55
ATI Catalyst Tweak Guide Revised	jmke	WebNews	0	2nd June 2006 09:13