Fabrinet Postpones Quarterly Results Pending 'Accounting' Investigation
BANGKOK -- Fabrinet will postpone its fourth-quarter earnings release in the wake of an internal investigation into "certain accounting issues" uncovered by company management during its fiscal fourth quarter ended June 27.
While not disclosing the precise nature of the potential breach, the EMS company said its audit committee is investigating whether there were any violations of the company's accounting policies associated with these potential accounting matters.
It said the SEC has been notified of the investigation.
The company is also currently evaluating whether there may be any deficiencies with the company's disclosure controls and procedures and internal control over financial reporting.
As a result, the firm said it would postpone its fourth quarter and fiscal year 2014 earnings release and conference call, which had been scheduled for Aug. 18, 2014. The results will be announced as soon as practicable following the completion of the audit committee's investigation, the firm said.
