Catalina Marketing Updates Status of SEC Inquiry
March 09 2004 - 4:30PM
PR Newswire (US)
Catalina Marketing Updates Status of SEC Inquiry ST. PETERSBURG,
Fla., March 9 /PRNewswire-FirstCall/ -- Catalina Marketing
Corporation today announced that the Securities and Exchange
Commission (SEC) issued a formal order in connection with its
investigation of certain aspects of the company's financial
accounting revenue recognition policies. The matter has been the
subject of an informal SEC inquiry, and the issuance of the formal
order was an expected step which will assist the SEC in connection
with its investigation. As previously disclosed, Catalina has been
fully cooperating with the agency, and intends to continue to do so
in order to bring the inquiry to a conclusion as promptly as
possible. Specifically, the company believes thatthe SEC's inquiry
is focusing primarily on the revenue recognition timing issues that
company management identified at its Catalina Health Resource
division. As previously announced, the company's auditors are
currently engaged in an audit of the company's financial statements
for its 2003 fiscal year and a re-audit of its financial statements
for fiscal years 2001 and 2002. Based in St. Petersburg, FL.,
Catalina Marketing Corporation (http://www.catalinamarketing.com/)
was founded 20 years ago based on the premise that targeting
communications based on actual purchase behavior would generate
more effective consumer response. Today, Catalina Marketing
combines unparalleled insight into consumer behavior with dynamic
consumer access. This combination of insight and access provides
marketers with the ability to execute behavior- based marketing
programs, ensuring that the right consumer receives the right
message at exactly the right time. Catalina Marketing offers an
array of behavior-based promotional messaging, loyalty programs and
direct to patient information. Personally identifiable data that
may be collected from the company's targeted marketing programs, as
well as its research programs, are never sold or given to any
outside party without the express permission of the consumer.
Certain statements in the preceding paragraphs are forward looking,
and actual results may differ materially. Statements not based on
historic facts involve risks and uncertainties, including, but not
limitedto, the changing market for promotional activities,
especially as it relates to policies and programs of packaged goods
manufacturers for the issuance of certain product coupons, the
effect of economic and competitive conditions and seasonal
variations, actual promotional activities and programs with the
company's customers, the pace of installation of the company's
store network, the success of new services and businesses and the
pace of their implementation, and the company's ability to maintain
favorable client relationships. DATASOURCE: Catalina Marketing
Corporation CONTACT: Investors, Christopher W. Wolf, Executive Vice
President and Chief Financial Officer, +1-727-579-5218, or Joanne
Freiberger, Vice President, Finance, +1-727-579-5116, or Media,
Susan Gear Executive Director, Marketing, +1-727-579-5452, all of
Catalina Marketing Corporation Web site:
http://www.catalinamarketing.com/
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