By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Audiovox announced it expects to file its Form 10-K for the fiscal 2004 period on or before March 31, 2005.
The fiscal 10-K filing date was to have been Feb. 28, and the company has filed with the Securities and Exchange Commission requesting an extension.
The delay is due to the fact that Audiovox’s auditors require additional time to complete the fiscal 2002 audit of the company and its subsidiaries. The fiscal 2002 audit includes Audiovox Communications, the net assets of which were sold to UTStarcom in November of last year.
Audiovox anticipates that it will receive a delisting notice from Nasdaq when it does not file on time, and management said upon receiving this notice, it will request a hearing. As a result, the delisting of the company’s securities will be stayed until the hearing is held and a determination is made, said the company.
Audiovox said it is taking all necessary steps to ensure regulatory compliance is met.
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