VIENNA, Va., June 2 /PRNewswire-FirstCall/ -- The Allied Defense Group, Inc. announces it will require additional time to file its Annual Report on Form 10-K for the year ended December 31, 2005 and its Quarterly Report on Form 10-Q for the period ending March 31, 2006. As previously announced, the Company is not in compliance with the American Stock Exchange's requirements for continued listing due to the continuing delays in the filing of the Company's 2005 10-K and 10-Q for the period ending March 31, 2006.
The Company is continuing to evaluate issues relating to how it accounted for derivatives and foreign exchange transactions in 2002, 2003 and 2004. As previously disclosed, these changes could have an impact on 2005 results, as well. The Company will complete its evaluation as quickly as possible and make appropriate announcements and filings with the Securities and Exchange Commission (SEC) at a later date should any adjustments of prior period financials be required.
The Company was granted an extension by the American Stock Exchange (AMEX) to file its 2005 10-K and 10-Q for the period ended March 31, 2006 with the SEC no later than June 2, 2006 and June 30, 2006, respectively. The Company asked AMEX for an extension, which was approved June 2, to push back the filing date for its 2005 10-K to July 14 and the filing date for its Form 10-Q for the period ended March 31, 2006 to July 31. The Company will be subject to periodic review by AMEX Staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the American Stock Exchange.
About The Allied Defense Group, Inc.
The Allied Defense Group, Inc. is a diversified international defense and security firm which: develops and produces conventional medium caliber ammunition marketed to defense departments worldwide; designs, produces and markets sophisticated electronic and microwave security systems principally for European and North American markets; manufactures battlefield effects simulators and other training devices for the military; and designs and produces state-of-the-art weather and navigation software, data, and systems for commercial and military customers.
For more Information, please visit the Company web site:
http://www.allieddefensegroup.com/
Certain statements contained herein are "forward looking" statements as such term is defined in the Private Securities Litigation Reform Act of 1995. Because statements include risks and uncertainties, actual results may differ materially from those expressed or implied and include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission.
For More Information, Contact:
Crystal B. Leiderman
Director, Investor Relations
800-847-5322
Jim Drewitz, Investor Relations
972-355-6070
