Digimarc Corporation Expects to Announce 1st Quarter Financial Results Monday, May 16; Sets Conference Call for 9 a.m. EDT Tuesd
May 09 2005 - 3:53PM
Business Wire
Digimarc Corporation (Nasdaq:DMRCE) said today that it expects to
announce results of its first quarter ended March 31, 2005 and to
file its Quarterly Report on Form 10-Q on Monday, May 16, 2005. The
Company expects to be able to file the Form 10-Q within the 5-day
extension period provided under SEC rules beyond the original due
date. The Company will file the notice for the 5-day extension on
Wednesday, May 11, and expects to disclose in its Form 12b-25
filing preliminary financial information concerning the results for
the first quarter. The delay in the 10-Q filing is primarily the
result of ongoing work of the Company and its independent
registered public accounting firm, KPMG LLP, under Section 404 of
the Sarbanes-Oxley Act, and a later than normal start in work on
the first quarter reporting process due to the company's completion
of its Form 10-K and restatement on April 7, 2005. The Company also
announced that the Nasdaq Listing Qualifications Panel has granted
the Company an extension until May 16, 2005 to file the internal
control reports required by Section 404 of the Sarbanes-Oxley Act
pursuant to an amendment to the Company's Form 10-K. The Company
expects to file the amendment to its 10-K within the time specified
for this extension. The Company also announced that on May 4, 2005
it received notification that Nasdaq's Listing and Hearing Review
Council (the "Listing Council") intends to review an earlier
decision made by Nasdaq's Listing Qualifications Panel on March 22,
2005 granting the Company additional time to file certain financial
statements. The Listing Council is a separate body within Nasdaq
that performs various functions including setting policy and
standards for the various listing qualifications panels to
administer. The Listing Council has the authority to review on its
own motion all decisions of the Nasdaq listing qualifications
panels and as such it may affirm, modify, reverse, dismiss, or
remand the March 22, 2005 decision regarding Digimarc either for
the purpose of establishing or clarifying Nasdaq policy or if it
disagrees with any part of the panel's prior decisions. Although
the Company expects to have made all required SEC filings by the
time that this earlier decision is reviewed by the Listing Council,
at this time the Company cannot give any assurance regarding the
scope or outcome of the Listing Council's review. The Company will
host a conference call on Tuesday, May 17, at 9:00 a.m. EDT (6:00
a.m. PDT), immediately prior to the Company's 8:00 a.m. PDT
presentation at the AeA 2005 Micro Cap Financial Conference in
Monterey, California. During the conference call and its
presentation at the AeA conference, management will discuss first
quarter results, measures that it is taking to improve timeliness
of financial statement filings and internal controls, significant
business developments, market conditions, and prospects and plans
for the remainder of 2005. A live Webcast and an archive of the
Digimarc conference call will be available at www.digimarc.com and
www.streetevents.com. About Digimarc Digimarc Corporation
(Nasdaq:DMRCE), based in Beaverton, Oregon, is a leading supplier
of secure media solutions used in a wide range of security,
identification and digital media content applications. Digimarc
provides products and services that enable the production of more
than 60 million personal identification documents, including
two-thirds of U.S. driver licenses and IDs for more than 20
countries. Digimarc's digital watermarking technology provides a
persistent digital identity for various media content and is used
to enhance the security of financial documents, identity documents
and digital images, and support other media rights management
applications. Digimarc has an extensive intellectual property
portfolio, with 192 issued U.S. patents with more than 4,000
claims, and more than 400 pending patent applications in digital
watermarking, personal identification and related technologies. The
Company is headquartered in Beaverton, Oregon, with other U.S.
offices in Burlington, Massachusetts; Fort Wayne, Indiana; and the
Washington DC area; and European offices in London. Please go to
www.digimarc.com for more Company information. Securities Safe
Harbor Under the Private Securities Litigation Reform Act of 1995
This release contains certain "forward-looking statements" that are
made pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements include statements relating to the anticipated filing
date of the Company's Form 10-Q for the quarter ended March 31,
2005, the anticipated filing date of the Company's amended Form
10-K for the period ended December 31, 2004, statements relating to
expectations of financial results and related information, and
other statements of management's opinion or expectations, such as
statements containing the words "believes," "expects," "estimates,"
"anticipates" or words of similar import or statements of
management's opinion. These statements are subject to certain
assumptions, risks, uncertainties and changes in circumstances.
Actual results may vary materially due to, among other things, the
actual timing and impact of the Company's compliance with Section
404 of the Sarbanes-Oxley Act of 2002, the actual timing of the
Company's filing of its Form 10-Q for the quarter ended March 31,
2005, decisions of the Nasdaq Listing Council pertaining to its
review of prior filing extensions granted to the Company by the
Nasdaq Listing Qualifications Panel, as well as changes in
economic, business, competitive, technological and/or regulatory
factors and trends. Digimarc is not obligated to (and expressly
disclaims any obligation to) revise/update any forward-looking
statements in order to reflect events or circumstances that may
arise after the date of this release. More detailed information
about risk factors that may affect actual results is set forth in
filings by Digimarc with the Securities and Exchange Commission,
including the Company's Forms 10-K and 10-Q previously filed with
the SEC, including sections entitled "Management's Discussion and
Analysis of Financial Condition and Results of Operations" under
the captions "Overview", "Critical Accounting Policies and
Estimates", "Liquidity and Capital Resources", "Risk Factors" and
"Controls and Procedures".
Digimarc (NASDAQ:DMRCE)
Historical Stock Chart
From Jul 2024 to Aug 2024
Digimarc (NASDAQ:DMRCE)
Historical Stock Chart
From Aug 2023 to Aug 2024