Feeds

BMC asks for more time to get books SOX-ready

Patience, shareholders

  • alert
  • submit to reddit

Next gen security for virtualised datacentres

Sarbanes Oxley (SOX) has claimed another scalp with BMC today saying it will delay the filing of its annual report in order to buy more time to live up to the Act's exacting standards.

BMC will ask the US SEC (Securities and Exchange Commission) for a 15-day extension to file Form 10-K for the fiscal year ended March 31. The software maker "will file for the automatic extension because it will not complete the preparation of its consolidated financial statements and management's assessment of internal controls over financial reporting as required by" SOX. The delay has caused BMC to push back its fourth quarter earnings announcement as well.

The first run of SOX deadlines caught a number of companies, as they struggle to ensure that accounting controls are in order. Veritas and Cray were two of the biggest technology names already to ask for more SOX compliance time.

BMC assured investors that it still expects the fourth quarter to be in line with a forecast it provided in May. That forecast has BMC pulling in between $388m and $400m in revenue with earnings per share in a range of 8 cents to 12 cents. ®

Related stories

BMC apologizes for poor Q4 with massive job cuts
BMC snags OpenNetwork for $18m
BMC unites channel programme
BMC buys French identity software maker for $33m

Next gen security for virtualised datacentres

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.