Feeds

BMC asks for more time to get books SOX-ready

Patience, shareholders

  • alert
  • submit to reddit

Mobile application security vulnerability report

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

Bridging the IT gap between rising business demands and ageing tools

More from The Register

next story
THUD! WD plonks down SIX TERABYTE 'consumer NAS' fatboy
Now that's a LOT of porn or pirated movies. Or, you know, other consumer stuff
EU's top data cops to meet Google, Microsoft et al over 'right to be forgotten'
Plan to hammer out 'coherent' guidelines. Good luck chaps!
US judge: YES, cops or feds so can slurp an ENTIRE Gmail account
Crooks don't have folders labelled 'drug records', opines NY beak
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
FLAPE – the next BIG THING in storage
Find cold data with flash, transmit it from tape
Seagate chances ARM with NAS boxes for the SOHO crowd
There's an Atom-powered offering, too
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.