InnerWorkings Postpones Release of First Quarter 2018 Financial Results
The accounting errors relate primarily to recording a portion of costs
of goods sold in the wrong period, and have no material impact on
InnerWorkings’ cash flow, revenue, or liquidity. The restated financial
statements will also correct other errors identified during prior
periods, which were immaterial individually and in the aggregate. Based
on its preliminary assessment,
-
For the year ended
December 31, 2017 , a decrease in income before income taxes of$2.5 - $4.5 million ; -
For the year ended
December 31, 2016 , a decrease in income before income taxes of$1.5 - $2.5 million ; and -
For the year ended
December 31, 2015 , an increase in income before income taxes of$0.5 - $1.5 million
In order to allow sufficient time to complete its review and corrections
to the historical financial statements,
Forward-Looking Statements
This release contains statements relating to future results and
expectations regarding the impact of the restatement on historical
financial results. These statements are forward-looking statements under
the federal securities laws. We can give no assurance regarding any
results discussed in these statements. Any forward-looking statements
represent our views only as of today and should not be relied upon as
representing our views as of any subsequent date. These statements are
subject to a variety of risks and uncertainties that could cause our
actual results to differ materially from the statements contained in
this release. For a discussion of important factors that could affect
our actual results, please refer to our
About
View source version on businesswire.com: https://www.businesswire.com/news/home/20180507006046/en/
Source:
InnerWorkings, Inc.
Bridget Freas
312-589-5613
bfreas@inwk.com