MILPITAS, Calif., Aug. 15 /PRNewswire-FirstCall/ -- Sipex Corporation
(OTC: SIPX.PK) today announced that the Annual Report on Form 10-K for 2004
(including the restated 2003 financial statements) and Annual Report on
Form 10-K and Quarterly Reports on Form 10-Q for 2005 are expected to be
filed shortly.
"During our May 30, 2006 conference call, we made a commitment to
stockholders to have our 2003, 2004 and 2005 financials on file by August
15, 2006. We have missed that commitment," stated Ralph Schmitt, CEO of
Sipex Corporation. "In an effort to establish transparency and frank
dialogue, we are issuing this press release to communicate the status to
stockholders."
"Our belief is that we are days away from filing these reports with the
Securities and Exchange Commission. The documents are currently in review.
We are also planning to separately release the results and file the 10-Qs
for Q1 and Q2 2006 in the coming weeks. A conference call will then be
scheduled to review all the financials that will bring the Company up to
date."
About Sipex Corporation
Sipex Corporation is an analog semiconductor company that addresses
standard linear and application specific standard products (ASSP) for
customer systems that are primarily targeted at the consumer, networking
and industrial markets. The products are categorized into three synergistic
areas of power management, interface and optical storage. Sipex is a global
company with operations in Asia, Europe and North America. It is the
mission of the company to create innovative analog products that enable
customers to produce differentiated products. For more information about
Sipex, visit http://www.sipex.com.
Safe Harbor
This press release contains forward-looking statements. Statements
regarding the Company's beliefs, plans, expectations or intentions
regarding the future are forward-looking statements, within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Exchange Act, as amended. All such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to
significant risks and uncertainties. In particular, the forward-looking
statements include the statements regarding Sipex's intention to file its
Annual Reports on Form 10-K for 2004 and 2005 and its Quarterly Reports on
Form 10-Q for 2005 within the next several days, and its intention to file
its Quarterly Reports on Form 10-Q for 2006 within the next several weeks.
These statements are predictions and involve risks and uncertainties, such
that actual results may differ significantly. These risks include, but are
not limited to, the risk that due to unforeseen issues in the preparation
of our annual and quarterly reports we may be unable to file these reports
on the anticipated timeline. The Company disclaims any intention or
obligation to publicly update or revise any forward-looking statements,
whether as a result of events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
For additional information, contact:
Clyde Ray Wallin, Chief Financial Officer
Tel: 408-934-7500
Fax: 408-935-7678
Email: RWallin@sipex.com
SOURCE Sipex Corporation
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Related links:
http://www.sipex.com
http://www.prnewswire.com/comp/111683.html/
CONTACT:
Clyde Ray Wallin, Chief Financial Officer of
Sipex Corporation, +1-408-934-7500, or fax, +1-408-935-7678, or
RWallin@sipex.com
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