CSP Announces Filing Extension for Form 10-Q

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CSP (NASDAQ:CSPI) announced that the Company will file a Form 12b-25 notification of late filing with the Securities and Exchange Commission to receive a five day extension to file its Quarterly Report on Form 10-Q. The delay in the filing of the Quarterly Report was due to the compressed time period between the delayed filing of its Annual Report for Fiscal 2016 and the deadline for the Quarterly Report for the first quarter of Fiscal 2017 and expanded testing of revenue transactions for our European operations in accordance with the revenue recognition criteria as required by US Generally Accepted Accounting Principles.
As quoted in the press release:

As a result of the compressed time period and expanded testing, our independent auditors have not completed their review of our financial statements for the Quarterly Report. We anticipate that we will file the Quarterly Report no later than February 21, 2017.

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