SAN JOSE, Calif.--(BUSINESS WIRE)--
A10 Networks, Inc. (NYSE:ATEN) (the "Company"), a Secure
Application Services™ company, today announced that it is postponing its
2017 fourth quarter and full year earnings announcement and conference
call, originally scheduled for Feb. 8, 2018.
In the fourth quarter of 2017, the Company determined that a mid-level
employee within its finance department had violated the Company's
Insider Trading Policy and Code of Conduct. As a result, the Company,
with the assistance of outside counsel, conducted an email review and
additional procedures to ensure the accuracy of its reporting of
financial information for 2017. Such review and procedures did not
identify matters that required material adjustments to be made.
Nonetheless, the Company's Audit Committee determined that further
review and procedures relating to certain accounting and internal
control matters should be undertaken. The Audit Committee's
investigation, which is being conducted with the assistance of outside
counsel, is principally focused on certain revenue recognition matters
from the fourth quarter of 2015 through the fourth quarter of 2017
inclusive.
The investigation is in its early stages. The Company is not able to
provide a date as to when it will be completed, nor provide any
assurance that the Company will not determine that material adjustments
to its past financial statements are appropriate.
At the conclusion of the Audit Committee's investigation, the Company
will announce the scheduling of a conference call to discuss full
financial results for the 2017 fourth quarter and full year.
Safe Harbor Statement
This press release contains forward-looking statements within the
meaning of the federal securities laws. You can identify these
statements by our use of such words as "will," "expects," "plans,"
"intends," "believes," and similar expressions that do not relate to
historical matters. Forward-looking statements in this press release
include, but are not limited to, statements, inferences, beliefs or
expectations regarding: the pending investigation, including its timing
and results; consequences and/or effects of the investigation, including
on previously announced Company financial results and any adjustments
thereto; timing of completion of the investigation or the announcement
of the Company's 2017 fourth quarter and full year financial results;
and the Company's plans, objectives and intentions that are not
historical facts generally.
These statements reflect the current intent, beliefs and expectations of
the Company's management. They involve known and unknown risks,
uncertainties and other factors that may cause future events, including
the Company's performance and results to differ materially from those
expressed or implied by the forward-looking statements. Factors that may
cause actual future events to differ from those in the forward-looking
statements include the outcome of the pending investigation and the
possibility of adjustments, including material adjustments, to the
Company's financial statements as the investigation progresses. See also
the factors described under the heading "Item 1A -- Risk Factors" in our
Annual Report on Form 10-K for the year ended December 31, 2016, and in
our Quarterly Report on Form 10-Q for the quarter ended September 30,
2017, or as otherwise described in our other public filings. The
Company's results may also be affected by factors of which the Company
is not currently aware. The Company may not update these forward-looking
statements, even though its situation may change in the future, unless
it has obligations under the federal securities laws to update and
disclose material developments related to previously disclosed
information.
About A10 Networks
A10 Networks (NYSE:ATEN) is a Secure Application Services™ company,
providing a range of high-performance application networking solutions
that help organizations ensure that their data center applications and
networks remain highly available, accelerated and secure. Founded in
2004, A10 Networks is based in San Jose, Calif., and serves customers
globally with offices worldwide. For more information, visit: www.a10networks.com
and @A10Networks.
The A10 logo, A10 Networks, A10 Harmony, Thunder and A10 Lightning and
Secure Application Services are trademarks or registered trademarks of
A10 Networks, Inc. in the United States and other countries. All other
trademarks are the property of their respective owners.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180130006226/en/
Investor Contact:
The Blueshirt Group
Maria Riley &
Chelsea Lish, 415-217-7722
investors@a10networks.com
Source: A10 Networks, Inc.