Dreyer's delays filing quarterly report
November 04, 2005
by Eric Schroeder
OAKLAND, CALIF. — Dreyer’s Grand Ice Cream Holdings Inc. on Friday delayed filing its quarterly report with the U.S. Securities and Exchange Commission, citing material weakness in its control over financial reporting.
In a filing with the S.E.C., Dreyer’s said that during the preparation of its Form 10-Q report for the quarter ended Sept. 24, it concluded that it "did not maintain effective controls over the valuation and determination of its deferred income tax assets and income tax provision. Specifically, the registrant did not maintain effective controls to ensure that the valuation of deferred tax assets, including any associated valuation allowance, was determined based upon appropriate supporting documentation."
Dreyer’s said the control deficiency could result in a misstatement to the annual or interim financial statements, but added it does not believe the material weakness will have an impact on the financial results to be reported for the quarter ended Sept. 24.