Trimedyne Says Annual Report Will Be Late
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Trimedyne Inc., an Irvine maker of surgical lasers, told federal regulators Wednesday it will be late in filing its annual report for its fiscal year, which ended Sept. 30.
The company said in a document filed with the Securities and Exchange Commission that it has encountered “unforeseen difficulty in reconciling year-end physical inventory with book balances, and associated application and revision of overhead rates.”
This difficulty caused a delay in closing the year-end books and completing an independent audit, according to the filing. The audit opinion, and corresponding auditor’s consent, weren’t received before the deadline for the annual report, the filing said.
Its stock closed at $1.19 a share on Nasdaq, unchanged from Tuesday.
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