Design Within Reach Announces Fourth Quarter 2006 Reporting Date of March 29, 2007.* Submits Notification of Late Filing for 2006 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. SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Design Within Reach, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DWRI DWRI Developmental Writing (college course) ) today announced that it has scheduled its fourth quarter and fiscal year end 2006 earnings release and conference call for Thursday, March 29, 2007 after the market close. Participating in the call will be Ray Brunner, President and Chief Executive Officer, and John Hellmann, Chief Financial Officer. The conference call is scheduled to begin at 1:30 p.m. Pacific (4:30 p.m. Eastern) on March 29, 2007 and will be broadcast live over the Internet. This call is being webcast by CCBN CCBN Central Coast Bancorp CCBN Charles County Business Network and can be accessed at Design Within Reach's website at http://www.dwr.com and will be archived online within one hour of the completion of the conference call. In addition, on March 16, 2007, Design Within Reach filed a notification of late filing with the Securities and Exchange Commission (SEC) with respect to the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2006, as permitted by Rule 12b-25 under the Securities Exchange Act of 1934, as amended. The Company's efforts towards compliance with Section 404 of the Sarbanes-Oxley Act See SOX. , as well as its independent auditors' work, are taking longer than anticipated. Design Within Reach is moving carefully to address these matters and report its audited consolidated results as soon as practical. About Design Within Reach, Inc. Design Within Reach, Inc., founded in 1998 and headquartered in San Francisco, is an integrated multi-channel provider of distinctive modern design furnishings and accessories. The Company markets and sells its products to both residential and commercial customers nationwide through the DWR catalog, studios, website and direct sales force, and a single common "in stock and ready to ship" inventory. "Design Within Reach" is a registered trademark of Design Within Reach, Inc. This press release includes 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 related to anticipated revenues, expenses, earnings, operating cash flows Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. , the outlook for Design Within Reach's markets and the demand for its products. Factors that could cause Design Within Reach's actual results to differ materially from these forward-looking statements including the following: if we are unable to continue to increase our net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight while reducing our promotional discounts, our profitability may be impaired; if we fail to offer merchandise that our customers find attractive, the demand for our products may be limited; we do not have long-term vendor contracts and as a result we may not have continued or exclusive access to products that we sell; our business depends, in part, on factors affecting consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. that are not within our control; our business will be harmed if we are unable to implement our growth strategy successfully; the expansion of our studio operations could result in increased expenses with no guarantee of increased earnings; if we do not manage our inventory levels successfully, our operating results will be adversely affected; we depend on domestic and foreign vendors, some of which are our competitors, for timely and effective sourcing of our merchandise; declines in the value of the U.S. dollar relative to foreign currencies could adversely affect our operating results; and we face intense competition and if we are unable to compete effectively, we may not be able to achieve and maintain profitability. Please refer to our reports and filings with the Securities and Exchange Commission, including our latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q Form 10-Q See 10-Q. , for a further discussion of these risks and uncertainties. We also caution you not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events. |
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