ADAC Laboratories to Delay Announcement of Second Quarter Results.MILPITAS, Calif.--(BW HealthWire)--May 19, 1999-- ADAC ADAC Allgemeiner Deutscher Automobil Club (German automobile club) ADAC Aboriginal Drug and Alcohol Council ADAC Art Directors and Artists Club (Sacramento, California) ADAC Alcohol and Drug Abuse Council Laboratories (Nasdaq:ADAC) announced today that it would delay filing with the Securities and Exchange Commission its quarterly report on Form 10-Q Form 10-Q See 10-Q. , previously expected to be filed today, and has filed for an extension. The company will also delay the announcement of its financial results for the second quarter ended April 4, 1999. The delay is attributable to the company's continuing evaluation of the establishment of additional reserves and the taking of additional charges. Although the company has not completed this evaluation, the company believes these actions will have a material adverse effect on the company's financial performance. The company expects, however, that revenues reported for the second quarter will not differ materially from those announced in the April 21, 1999 news release. The company will announce its results and file its Form 10-Q when the evaluation is complete. ADAC Laboratories is the world market share leader in nuclear medicine and radiation therapy planning systems and a leading supplier of radiology and cardiology cardiology Medical specialty dealing with heart diseases and disorders. It began with the 1749 publication by Jean Baptiste de Sénac of contemporary knowledge of the heart. Diagnostic methods improved in the 19th century, and in 1905 the electrocardiograph was invented. information and image management systems in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . ADAC is headquartered in Milpitas, with its HealthCare Information Systems division in Houston. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , including statements concerning the establishment of additional reserves and the taking of additional charges. Factors that could cause actual results to differ materially from those contained in such forward-looking statements include, but are not limited to, the collectibility of the Company's receivables, changes to the Company's operating structure and charges and dislocations that may result therefrom there·from adv. From that place, time, or thing. Adv. 1. therefrom - from that circumstance or source; "atomic formulas and all compounds thence constructible"- W.V. ; the impact of international economic conditions on the Company's business; and a number of factors that can introduce variability in the Company's operating results, including the timing of product orders, shipments, and installations. Further information on these and other factors is described in the "Business Considerations" section of the Company's most recent Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended September 27, 1998, including subsections headed "Dependence on New Products and Product Enhancements" and "Future Operating Results." All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements. |
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