Catalina (NYSE:POS)
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From Jul 2019 to Jul 2024
Catalina Marketing Updates Status of SEC Inquiry
ST. PETERSBURG, Fla., March 9 /PRNewswire-FirstCall/ -- Catalina Marketing
Corporation today announced that the Securities and Exchange Commission (SEC)
issued a formal order in connection with its investigation of certain aspects of
the company's financial accounting revenue recognition policies.
The matter has been the subject of an informal SEC inquiry, and the issuance of
the formal order was an expected step which will assist the SEC in connection
with its investigation. As previously disclosed, Catalina has been fully
cooperating with the agency, and intends to continue to do so in order to bring
the inquiry to a conclusion as promptly as possible. Specifically, the company
believes thatthe SEC's inquiry is focusing primarily on the revenue recognition
timing issues that company management identified at its Catalina Health Resource
division. As previously announced, the company's auditors are currently engaged
in an audit of the company's financial statements for its 2003 fiscal year and a
re-audit of its financial statements for fiscal years 2001 and 2002.
Based in St. Petersburg, FL., Catalina Marketing Corporation
(http://www.catalinamarketing.com/) was founded 20 years ago based on the
premise that targeting communications based on actual purchase behavior would
generate more effective consumer response. Today, Catalina Marketing combines
unparalleled insight into consumer behavior with dynamic consumer access. This
combination of insight and access provides marketers with the ability to execute
behavior- based marketing programs, ensuring that the right consumer receives
the right message at exactly the right time. Catalina Marketing offers an array
of behavior-based promotional messaging, loyalty programs and direct to patient
information. Personally identifiable data that may be collected from the
company's targeted marketing programs, as well as its research programs, are
never sold or given to any outside party without the express permission of the
consumer.
Certain statements in the preceding paragraphs are forward looking, and actual
results may differ materially. Statements not based on historic facts involve
risks and uncertainties, including, but not limitedto, the changing market for
promotional activities, especially as it relates to policies and programs of
packaged goods manufacturers for the issuance of certain product coupons, the
effect of economic and competitive conditions and seasonal variations, actual
promotional activities and programs with the company's customers, the pace of
installation of the company's store network, the success of new services and
businesses and the pace of their implementation, and the company's ability to
maintain favorable client relationships.
DATASOURCE: Catalina Marketing Corporation
CONTACT: Investors, Christopher W. Wolf, Executive Vice President and
Chief Financial Officer, +1-727-579-5218, or Joanne Freiberger, Vice
President, Finance, +1-727-579-5116, or Media, Susan Gear Executive Director,
Marketing, +1-727-579-5452, all of Catalina Marketing Corporation
Web site: http://www.catalinamarketing.com/