Radiopharmaceutical provider Syncor International said it expects to file a notification of late filing on Form 12b-25 with the Securities and Exchange Commission. The filing would result in an automatic five-day extension for Syncor to file a Form 10-Q for the quarter ended September 30, according to the Woodland Hills, CA-based company.
Syncor and its auditors needed additional time in order to confirm that the results of an investigation into certain customer payments do not impact its financial statements, according to the firm. A committee of outside directors and outside counsel has been investigating the propriety of payments made by international Syncor subsidiaries to customers in several foreign countries.
Based on results of the investigation to date, Syncor said it did not believe the amount of the payments would be material to its financial results or result in a material adjustment or restatement of previous financial statements. Syncor said, however, that it couldn’t guarantee it will be able to file its Form 10-Q within the five-day extension.
By AuntMinnie.com staff writers
November 13, 2002
Related Reading
Cardinal uncovers questionable Syncor payments, November 6, 2002
Syncor debuts radiation emergency kits, October 28, 2002
Adults with ADHD exhibit brain abnormalities on functional MRI, October 28, 2002
Syncor, MSU to offer PET cyclotron, October 2, 2002
Waiting period for Cardinal Health/Syncor deal expires, August 1, 2002
Cardinal Health to buy Syncor, June 14, 2002
Copyright © 2002 AuntMinnie.com
