ST. PETERSBURG, Fla., March 9 /PRNewswire-FirstCall/ -- Catalina Marketing
Corporation (NYSE: POS) today announced that the Securities and Exchange
Commission (SEC) issued a formal order in connection with its investigation of
certain aspects of the company's financial accounting revenue recognition
policies.
The matter has been the subject of an informal SEC inquiry, and the
issuance of the formal order was an expected step which will assist the SEC in
connection with its investigation. As previously disclosed, Catalina has been
fully cooperating with the agency, and intends to continue to do so in order
to bring the inquiry to a conclusion as promptly as possible. Specifically,
the company believes that the SEC's inquiry is focusing primarily on the
revenue recognition timing issues that company management identified at its
Catalina Health Resource division. As previously announced, the company's
auditors are currently engaged in an audit of the company's financial
statements for its 2003 fiscal year and a re-audit of its financial statements
for fiscal years 2001 and 2002.
Based in St. Petersburg, FL., Catalina Marketing Corporation
(http://www.catalinamarketing.com) was founded 20 years ago based on the premise that
targeting communications based on actual purchase behavior would generate more
effective consumer response. Today, Catalina Marketing combines unparalleled
insight into consumer behavior with dynamic consumer access. This combination
of insight and access provides marketers with the ability to execute behavior-
based marketing programs, ensuring that the right consumer receives the right
message at exactly the right time. Catalina Marketing offers an array of
behavior-based promotional messaging, loyalty programs and direct to patient
information. Personally identifiable data that may be collected from the
company's targeted marketing programs, as well as its research programs, are
never sold or given to any outside party without the express permission of the
consumer.
Certain statements in the preceding paragraphs are forward looking, and
actual results may differ materially. Statements not based on historic facts
involve risks and uncertainties, including, but not limited to, the changing
market for promotional activities, especially as it relates to policies and
programs of packaged goods manufacturers for the issuance of certain product
coupons, the effect of economic and competitive conditions and seasonal
variations, actual promotional activities and programs with the company's
customers, the pace of installation of the company's store network, the
success of new services and businesses and the pace of their implementation,
and the company's ability to maintain favorable client relationships.
SOURCE Catalina Marketing Corporation
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Related links:
http://www.catalinamarketing.com
CONTACT:
Investors, Christopher W. Wolf, Executive
Vice President and Chief Financial Officer, +1-727-579-5218, or
Joanne Freiberger, Vice President, Finance, +1-727-579-5116, or
Media, Susan Gear Executive Director, Marketing, +1-727-579-5452,
all of Catalina Marketing Corporation
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