Quiksilver Inc. postponed the release of its first quarter earnings that had been scheduled for Thursday after discovering “a revenue cut-off issue” identified by management was brought to the attention of its Audit Committee.
The Audit Committee promptly commenced an investigation last week and has not yet reached any conclusions. Based on currently available information, the company believes that the completion of the Audit Committee’s investigation will have no material impact on its previously issued financial statements, its 2015 first quarter financial results, or its current guidance.
The Audit Committee plans to review progress regarding its investigation at a previously scheduled regular meeting of the Board of Directors on March 16th, after which the Company anticipates announcing a date for distribution of its first quarter 2015 financial results during March.
