Exela Technologies, Inc. to Delay Fourth Quarter and Full Year 2019 Earnings Release and Conference Call and Announces Delay ...
March 16 2020 - 2:40PM
Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA),
a location-agnostic global business process automation (“BPA”)
leader across numerous industries,
announced
today that it will delay its earnings release and investor
conference call for the fourth quarter and year ended December 31,
2019, previously scheduled for 5:00 p.m. (ET) today. Exela has
postponed its earnings release and conference call due to the
delayed filing of its Form 10-K for the year-ended December 31,
2019, and the need to restate certain of its historical financial
statements.
Exela plans to file a Form 12b-25, Notification
of Late Filing, with the Securities and Exchange Commission, by
March 17, 2020, which will provide the Company with a 15
calendar-day extension beyond the March 16, 2020 deadline within
which to file the 2019 annual report on Form 10-K. Exela also plans
to file a Form 8-K with the SEC on March 17, 2020, with additional
details regarding the restatement of its historical financial
statements.
Exela currently expects to file the Company's
Form 10-K for the year-ended December 31, 2019, on or before March
31, 2020. Once that date is finalized, Exela will schedule an
investor conference call to discuss the financial results for the
fourth quarter and full year 2019. Although Exela is working
diligently to complete the 2019 Form 10-K, and currently expects to
complete and file these items by March 31, 2020, given factors such
as potential work interruptions associated with the COVID-19
coronavirus, no assurance can be given that they will be filed
within such period.
About Exela Exela Technologies,
Inc. (“Exela”) is a business process automation (BPA) leader,
leveraging a global footprint and proprietary technology to provide
digital transformation solutions enhancing quality, productivity,
and end-user experience. With decades of expertise operating
mission-critical processes, Exela serves a growing roster of more
than 4,000 customers throughout 50 countries, including over 60% of
the Fortune® 100. With foundational technologies spanning
information management, workflow automation, and integrated
communications, Exela’s software and services include
multi-industry department solution suites addressing finance and
accounting, human capital management, and legal management, as well
as industry-specific solutions for banking, healthcare, insurance,
and public sectors. Through cloud-enabled platforms, built on a
configurable stack of automation modules, and over 22,000 employees
operating in 23 countries, Exela rapidly deploys integrated
technology and operations as an end-to-end digital journey partner.
Find out more at www.exelatech.com
Follow Exela on
Twitter: https://twitter.com/exelatechFollow
Exela on
LinkedIn: https://www.linkedin.com/company/11174620/
Forward-Looking Statements:
Certain statements included in this press release are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under The Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as “may”, “should”, “would”, “plan”,
“intend”, “anticipate”, “believe”, “estimate”, “predict”,
“potential”, “seem”, “seek”, “continue”, “future”, “will”,
“expect”, “outlook” or other similar words, phrases or expressions.
These forward-looking statements include statements regarding our
industry, future events, the estimated or anticipated future
results and benefits of the Business Combination, future
opportunities for the combined company, and other statements that
are not historical facts. These statements are based on the current
expectations of Exela management and are not predictions of actual
performance. These statements are subject to a number of risks and
uncertainties, including without limitation those discussed under
the heading “Risk Factors” in Exela’s most recently filed Annual
Report on Form-10-K filed with the Securities and Exchange
Commission. In addition, forward-looking statements provide Exela’s
expectations, plans or forecasts of future events and views as of
the date of this communication. Exela anticipates that subsequent
events and developments will cause Exela’s assessments to change.
These forward-looking statements should not be relied upon as
representing Exela’s assessments as of any date subsequent to the
date of this press release.
Media Contact: Kevin McLaughlinE:
kevin.mclaughlin@icrinc.com T: 646-277-1234
Investor Contact: William MainaE: IR@exelatech.com T:
646-277-1236
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