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Pomeroy IT Solutions, Inc. Announces Delay in Filing Form 10-Q for Third Quarter Ended October 5, 2005.


HEBRON, Ky. -- Pomeroy IT Solutions, 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
:PMRY PMRY Pomeroy IT Resources (stock symbol) ), today announced that it has filed a Form 12b-25 notifying the Securities and Exchange Commission that it has not met the November 14, 2005 deadline to file its quarterly report on Form 10-Q Form 10-Q

See 10-Q.
 for the fiscal quarter ended October 5, 2005.

As noted in the filing, Pomeroy disclosed that it is unable to complete its financial statements for the third quarter of fiscal 2005 because it has identified errors relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 service billing and cost calculations. The errors relate to problems with new IT systems and processes for services revenues that were implemented during the latter part of the first quarter of fiscal 2005. The new IT systems converted and integrated the prior systems and processes used by the Company and Alternative Resources Corporation, the services business acquired by the Company during fiscal 2004. Pomeroy disclosed that due to problems with the integration of the IT systems and processes, it will undertake a comprehensive review of the invoicing in·voice  
n.
1. A detailed list of goods shipped or services rendered, with an account of all costs; an itemized bill.

2. The goods or services itemized in an invoice.

tr.v.
 of services for each month in fiscal 2005 to identify all errors and make any adjustments needed. As a result of this review, it is possible that financial results reported for prior quarters in fiscal 2005 could be affected. Once the Company has completed the comprehensive review and the Company's independent accounting firm has completed its review of the financial statements, Pomeroy will file the Form 10-Q for the third quarter of fiscal 2005.

Also as indicated in the Form 12b-25, Pomeroy anticipates that the results of operations as reflected in the earnings statements included in the Form 10-Q for third quarter 2005 may contain a significant change from the corresponding periods of the prior fiscal year. In addition, Pomeroy announced that it is withdrawing its previous earnings guidance for the third quarter of fiscal 2005.

As a national solutions provider, Pomeroy provides services that include: outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. , application development, systems integration and other maintenance and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services . The Company maintains a workforce of 3,000+ skilled, technical employees with the capabilities to plan, design, implement and support all categories of its consulting, infrastructure and lifecycle solutions offerings. Pomeroy helps clients leverage IT as an enabler to increase productivity, reduce costs and improve profitability. Pomeroy has clientele across a broad spectrum of industries, governments and educational organizations. The Company reported revenues of $742 million for the year ended January 5, 2005.

Certain of the statements in the preceding paragraphs regarding reporting financial results constitute "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.
" for purposes of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and as such they involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those projected. Factors which could cause actual results to differ materially from current expectations include, but are not limited to, the nature and extent of the errors identified, the time required by us to compile To translate a program written in a high-level programming language into machine language. See compiler.  information necessary to complete our financial statements, and the time required by our auditors to complete the review of our Form 10-Q.
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Publication:Business Wire
Date:Nov 15, 2005
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