The company expects to file its Form 10-K promptly and to schedule a conference call to discuss 2018 results in conjunction with the filing.
Camping World said that during its year-end 2018 financial statement review process, the company identified the necessity to adjust the manner in which reserves related to the cancelation provisions of certain finance and insurance related offerings are calculated. The company is evaluating the materiality of this adjustment both qualitatively and quantitatively in accordance with Staff Accounting Bulletin (SAB) No. 99, Materiality, and SAB No. 108 and expects the determination of the effect of the adjustments to the previously issued financial statements as of and for the years ended December 31, 2017 and 2016 to be immaterial, and the company expects to make immaterial adjustments to the previous period financial statements in its Form 10-K to reflect the correction of these calculations. Given the additional time required to fully complete the company’s assessment of the matter, the company is unable to file its Form 10-K within the prescribed time period without unreasonable effort or expense.
In addition, the company expects to disclose in its Form 10-K that, as part of its evaluation of its internal controls over financial reporting as required by Section 404 of the Sarbanes-Oxley Act of 2002, the company identified a material weakness in its internal control that existed as of December 31, 2018, specifically related to the sufficiency of available technical resources at the company.
The company plans to release fourth quarter and full year 2018 earnings results and file its Form 10-K promptly within the extension period of 15 calendar days as provided under Rule 12b-25 under the Securities Exchange Act of 1934, as amended.
