San Diego-based Cubic Corp. (NYSE: CUB) has received notice from the staff of the New York Stock Exchange that the company will be listed as a late filer on the NYSE Listing Standards Filing Status page.
The listing is pursuant to prior conversations with the NYSE and was expected by the company, Cubic said Tuesday in a release. The reason relates to Cubic not being in compliance with listing standards and its failure to file its quarterly report on Form 10-Q for the quarter ended Dec. 31 on a timely basis.
As a late filer on the NYSE Listing Standards Filing Status page, the initials “LF” will be appended to Cubic’s stock symbol on the consolidated tape, as well as Cubic’s profile, data and online news pages. The issuing of such notices is considered routine practice in situations when there are late filings with the SEC, Cubic said.
The company announced on Feb. 10 that the audit committee of its board of directors, after consultation with Ernst & Young LLP, determined that Cubic’s financial statements for the fiscal years ended Sept. 30, 2013 and 2012, and each of the prior quarters of 2013 and 2012, can no longer be relied upon as being in compliance with generally accepted accounting principles. Cubic said it will restate the financial statements.
The company reportedly is in the process of evaluating the total amount of the adjustments and the specific impact on each period covered by the restatement, which may result in an increase or decrease in previously reported amounts for individual periods. Until Cubic has completed such evaluation, it said it will not be able to file its quarterly report on Form 10-Q for the quarter ended Dec. 31, 2013.
9333 Balboa Ave.
San Diego, CA 92123