comScore, which was unable to file its quarterly and annual reports because of an investigation into its accounting, might be close to having an accepted plan to end the investigation.
The company made a filing with the SEC Wednesday that said it would not be able to file its quarterly report by the deadline.
But analyst Tom Eagan of the Telsey Advisory Group says the important part of the filing is that comScore indicates that the audit committee investigation is almost over and that it expects to provide an “informed update” by June 27.
Eagan says comScore’s suggestion that it has an accepted plan for filing its annual report with NASDAQ is crucial. “Without it, [comScore] would face a delinquency notice and a de-listing by next week.”
Eagan says that while it is still not clear when the annual report will be filed, the latest documents indicate the company “will be disclosing details as to the ‘potential accounting matters’ and give investors more clarity on filing timing.”
The filing also has the company answering no to whether there will be a significant change in the copmany’s operating results.
“This is significant because we believe that the underlying fundamentals of the company are solid,” Eagan said.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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