AMCOL (ACO) to Delay 10-Q Filing for Q212; May Need to Reduce Inventory Value in Spanish Ops
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AMCOL (NYSE: ACO) reports that it has filed a Form 12b-25 to report the delay in filing its Quarterly Report on Form 10-Q for the 2012 second quarter ended June 30, 2012. Following the release of AMCOL's earnings for the second quarter in a press release dated July 27, 2012, AMCOL determined that it may need to reduce the value of inventory recorded in its Environmental segment's operations in Spain. AMCOL management and our Audit Committee are working together to determine the amount of the reduction required and to identify the financial reporting periods impacted. At this time, we believe that the relevant periods may include one or more periods dating back to as early as 2010. Currently, neither AMCOL management nor our Audit Committee is able to determine whether any financial statements will need to be restated or whether the financial results presented in the July 27, 2012 press release will need to be revised.
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