With 10 days into the second quarter of 2019, many financial executives are likely starting to compute their company’s Q1 earnings.
Not so for Entravision Communications. It has yet to file its full-year 2018 and Q4 ’18 results, and that’s put it out of compliance with the exchange where its stock is publicly traded.
According to a source close to the matter, Entravision is engaged in a “whole new audit,” and those conducting the process “are not that familiar with media companies.”
This very well could be the reason why Entravision “continues to work diligently to complete its audit and Form 10-K and does not currently anticipate this delay will be lengthy.”
Yet, Entravision intends to file its full-year and Q4 2018 results “as soon as practicable” … putting into question when, exactly, those financial reports will be finalized and made public.
The New York Stock Exchange would likely want a more definitive answer. On April 3, Entravision received a notice from NYSE stating that the Hispanic-focused media company was not in compliance with the exchange’s continued listing requirements because of the delayed Form 10-K filing with the SEC.
But, it’s likely a small matter, as under NYSE’s rules Entravision has six months from April 2 to make the filing with the SEC.
Officially, Entravision on March 18 told the SEC that as a result of its expanding business operations and geographical scope, including its purchase of Argentina-based Headway and other digital businesses, it experienced “unexpected delays” in its completion of the audit of its financial statements for fiscal 2018.
