VeriFone Holdings Extends Due Date For Filing Annual Report On Form 10-k - Update

(RTTNews) - Monday evening, VeriFone Holdings Inc. (PAY | charts | news | PowerRating), a designer and marketer of transaction automation systems, revealed that it would extend the due date for its annual report on Form 10-k for the first three quarters of fiscal year ended October 31, 2007.

VeriFone filed a Form 12b-25 with the Securities and Exchange Commission that would extend the due date for its Annual Report on Form 10-k to January 14, 2008, it does not expect that it would complete this process and make the required filings prior to March 2008.

Previously, the company announced that it would restate its historical financial statements for the first three quarters of its fiscal year ended October 31, 2007. Since the original announcement, VeriFone's audit committee has been working with independent counsel, Simpson Thacher & Bartlett LLP, and a forensic accounting team from Navigant Consulting, Inc., to investigate the events leading to the required restatement.

VeriFone does not expect to report further on the restatement process, other than possibly to provide updates as to the timing of the process, until the process is complete and its restated financial statements have been published.

PAY closed Monday's regular trading session at $23.25, down 35 cents or 1.48%. In the after hours trading, the stock gained 9 cents or 0.38% to trade at $23.34.

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