Touchstone delays annual report
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- January
- 30
Touchstone Applied Science Associates has announced it has told regulators that it needs more time to prepare its annual financial statement citing an “unusually time-consuming effort� in accounting for an aquisition as partly to blame for the delay.
In making the announcement, the company said expects to file its annual report for the fiscal year ending Oct. 31 with the Securities and Exchange Commission on or before Feb. 15.
In June, Brewster-based Touchstone, a supplier of educational-test materials, bought Questar Educational Systems Inc. of Apple Valley, Minn., in a deal that at the time was valued up to $32.5 million.
Touchstone President and Chief Executive Officer Andrew L. Simon said the purchase was a “transforming event� and that the company had “to make sure the partial-year impact of the acquisition is accurately reflected in our financial statements.�
This entry was posted
on Tuesday, January 30th, 2007 at 6:59 pm by David Schepp.
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Category: Corporate doings, Uncategorized
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