Flow delays filing annual financial report
The Associated Press
Industrial water jet maker Flow International said Tuesday it notified federal regulators it would be late in filing its annual financial report.
The Kent company said it needs more time to file its report for the fiscal year ended April 30, due to tax and internal control issues related to its Brazilian subsidiary. Flow said it expects to file the report within the 15-day extension period allowed under the Securities and Exchange Commission’s regulations. After filing the report, the company said it will hold a conference call to discuss the results.
The company said it expects to post operating income of about break-even on revenue of about $58 million for its fiscal fourth quarter. Analysts are expecting breakeven operating income on $60.6 million in revenue, according to FactSet.
Flow International’s stock fell 6 cents, or 1.6 percent, to close at $3.80.