CHICAGO-U.S. Cellular Corp. and its parent company, Telephone and Data Systems Inc., have again delayed the release of their financial results for the third quarter of 2005.
The two companies now have until Feb. 28 to file their results for last year’s third quarter, as well as restated results going back as far as 2000. U.S. Cellular and TDS had planned to announce their results on Jan. 26 to meet a previous filing extension deadline of Jan. 31 granted to them by the American Stock Exchange. AMEX had notified the companies in November that their tardiness in filing put them out of compliance with AMEX listings standards, and has since granted the companies three reprieves.
The companies did not give a new date for when they would announce their results. The companies said that the accounting errors that prompted the delays chiefly affect the third quarter of 2004, resulting in a tax benefit for that quarter representing a decrease in income tax expense and an increase in net income and earnings per share.
“TDS and U.S. Cellular require additional time to correct the errors, make all the appropriate changes in their financial statements for prior years, and obtain the proper approvals,” the companies said in a statement.
