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Big 5 Won't Be Delisted ¿ Yet
SEPTEMBER 09, 2005 --
Big 5 Sporting Goods won't be dislisted from the Nasdaq National Market management as the company has finally filed a Form-10K for its past FY04. The filing was made on September 6.
However, the company has yet to file its 10-Qs for the first two quarters of this FY. Big 5 could still face delisting if it doesn't file these reports by September 30, which is Nasdaq's final deadline.
Big 5 said it expects to submit the quarterly reports "as soon as possible" but noted there can be no assurance it will be able to file these quarterly reports by the deadline.
The company restated its prior financial reports to correct an accounting error the company found during its normal year-end process, Big 5 said.
Big 5 noted that 4Q04 net income, after restatements, was $9.5 million, or 42¢ per share. It had projected $11.6 million, or 51¢ per share. Yearly net income was $33.5 million, or $1.47 per share. The previous estimate was $34.3 million, or $1.50 per share.
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Categories
Sporting goods industry
Companies
Big 5 Sporting Goods Inc.
Nasdaq
Concepts
quarterly reports
net income
accounting error
financial reports
year-end process
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