TheStreet.com Misses Earnings Deadline, Citing Discrepancies From Promotions.com Deal
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TheStreet.com (NSDQ: TSCM) missed filing its Q209 earnings report—and has been cited by Nasdaq for the deficiency. What’s holding up the numbers? The financial services media company says there’s an “issue” related to the way it has been recording revenues from its Promotions.com business (which TheStreet.com acquired as part of its Corsis buy in 2007).
Per TheStreet.com’s official statement:
SEE ALSO: TheStreet.com: CEO Clarke: Continued Focus On Acquisitions; Ad Market Holds Up | paidContent
“The Company currently is assessing the impact of this issue on the periods since the acquisition and has not yet determined whether it will be required to restate any prior period results.”
The company says the issue doesn’t impact previously reported figures for cash and cash equivalents—but it went on to say that it has no clue when the issue will actually be resolved.
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