SANTA CLARA, Calif., Nov. 14 /PRNewswire-FirstCall/ -- Tvia, Inc. , a leading provider of digital display processors for advanced flat-panel TVs, broadcast digital DVRs, consumer display and monitor products, announced today that it has filed a Form 12b-25 with the Securities and Exchange Commission. As disclosed in the filing, the Company will not file its Form 10-Q for the quarter ended September 30, 2006 by November 14, 2006 because the Company is conducting a review of its financial results for the year ended March 31, 2006 and the quarters ended June 30, 2006 and September 30, 2006 with respect to certain accounting practices and revenue recognition matters. The Company is unable to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2006, by the required filing date because it needs additional time to assess the impact of the review on its financial results. The Company currently anticipates that its Form 10-Q for the quarter ended September 30, 2006 will be filed by the permitted extension to November 20, 2006. The Company does not know what impact the outcome of its review may have on its results of operations for the corresponding period in the prior year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050419/SFTU130LOGO )
ABOUT TVIA
Tvia, Inc. is a fabless semiconductor company which designs and develops an extensive line of flexible, high-quality digital display processors for digital LCD, PDP, HD, SD, and progressive-scan TVs, as well as other broadcast and consumer display products. Tvia owns and operates a leading independent TV design center providing manufacturers with proven TV system designs, which Tvia believes allows manufacturers to produce and manufacture the highest quality flat-panel television at a lower cost with shortened time to market. The combination of Tvia's TrueView display processors and leading TV system designs gives Tvia's manufacturing customers an advantage for building cost-effective, high quality display solutions. More information about Tvia is available at http://www.tvia.com/.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future periods, beliefs or expectations, and include statements as to the features and benefits of Tvia's products and Tvia's expectations regarding the timing and content of its 10-Q filing. Factors that could cause or contribute to such differences include the results and effect of the Company's review of its financial results, the periods which may be impacted and its failure to file its Form 10-Q within the permitted extension time, as well as the risks discussed in Tvia's Annual Report on Form 10-K for the year ended March 31, 2006 and Form 10-Q for the quarter ended June 30, 2006 filed with the Securities and Exchange Commission (SEC), and in other reports filed from time to time with the SEC. All forward-looking statements included in this press release are based upon information available to Tvia as of the date of this release, and Tvia assumes no obligation to update any such forward- looking statements.
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk
