KANSAS CITY, Mo., May 18 /PRNewswire-FirstCall/ -- American Italian Pasta Company , the largest producer and marketer of dry pasta in North America, today provided an update to the status of the restatement of its historical financial statements.
As previously announced, the Company has been evaluating the timetable for completion and filing of its audited financial statements and annual reports on Form 10-K for its fiscal year ended September 30, 2005 and for its fiscal year ended September 29, 2006. Based on its evaluation of the timetable, the Company now anticipates making these filings concurrently in the last half of August 2007. "We recognize that this has been an extended process and has taken longer than originally anticipated," said Jim Fogarty, Chief Executive Officer. "We look forward to completing this extensive review and our restatement process."
The date the Company estimates for completing the filing of its financial statements is subject to change based on a number of factors, including the ongoing investigations in which the Company is cooperating, and the review of and continued analysis of issues by the Company and its independent registered public accounting firm.
ABOUT AIPC
Founded in 1988 and based in Kansas City, Missouri, American Italian Pasta Company is the largest producer and marketer of dry pasta in North America. The Company has four plants that are located in Excelsior Springs, Missouri; Columbia, South Carolina; Tolleson, Arizona and Verolanuova, Italy. The Company has approximately 600 employees located in the United States and Italy.
When used in this release, the words "anticipate," "believe," "estimate," and "expect" and similar expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying these statements. The statements by the Company regarding the timing of filing its audited financial statements and annual reports on Form 10-K for fiscal 2005 and fiscal 2006, are forward-looking. Actual results or events could differ materially. The differences could be caused by a number of factors, including, but not limited to, the completion and findings of the Audit Committee investigation, the Company's review of its financial statements, a review and/or audit of the Company's financial statements by its independent registered public accounting firm, the SEC staff review, and the conclusions reached regarding financial reporting. The Company will not update any forward-looking statements in this press release to reflect future events. Contact:
