A10 Networks, Inc. Postpones Fourth Quarter and Full Year 2017 Earnings Announcement
January 30, 2018 at 04:17 pm
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A10 Networks, Inc. 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.
A10 Networks, Inc. is a provider of cybersecurity and infrastructure solutions for on-premises, hybrid cloud, and edge-cloud environments. Its product portfolio consists of six secure application solutions and two intelligent management and automation tools. Its software solutions are available to be delivered in a variety of form factors, such as embedded in optimized hardware appliances, as bare metal software, containerized software, virtual appliances and cloud-native software. Its secure application solutions include Thunder Application Delivery Controller (ADC), Thunder Carrier Grade Networking (CGN), Thunder SSL Insight (SSLi), and Thunder Convergent Firewall (CFW). Harmony Controller is its intelligent management and automation tool. Its A10 Defend Suite of Products include A10 Defend Threat Control, A10 Defend Orchestrator, A10 Defend Detector, and A10 Defend Mitigator. Its customers span global large enterprises and communications, cloud and Web service providers, and others.