ST. PETERSBURG, Fla., Sept. 15 /PRNewswire/ -- Catalina Marketing
Corporation (NYSE: POS) today filed an amended 8-K with the Securities and
Exchange Commission.
The primary purpose of the amendment is to file certain correspondence
between Ernst & Young LLP ("E&Y") and Catalina Marketing Corporation
("Catalina" or "the company"), discussing whether a "disagreement" existed
between E&Y and the company over the accounting issue related to the
exclusivity provision of some of Catalina's contracts with customers. E&Y
states that it believes a "disagreement" existed. The company confirms its
position that, in its view, no "disagreement" existed between the company and
E&Y with respect to accounting for customer contracts with exclusivity
provisions or any other matter referenced in the Form 8-K, as the company had
not taken a position with respect to any of these matters which could have
resulted in a "disagreement." In fact, the company states, a plan for
resolving pending issues was scheduled to be discussed the day that E&Y
tendered its resignation.
"We take the issues surrounding our audit very seriously and are working
to fully resolve those issues as soon as possible," said Daniel D. Granger,
Catalina chairman and chief executive officer. "To that end we remain focused
on retaining a new audit firm, and will announce retention of an auditor as
soon as possible."
Mr. Granger continued, "It is very important to point out that the issues
raised by E&Y relate to discussions regarding accounting, and not the health
of the business itself. We reemphasize that none of the accounting issues
affect our aggregate cash flow. Our fundamental business and financial
position remain strong."
Based in St. Petersburg, Fla., 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 multiple consumer access vehicles,
reaching consumers at home, in-store and online. 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. Through its six operating divisions,
Catalina Marketing offers an array of behavior-based promotional messaging,
product sampling, loyalty programs, direct to patient information and market
research services. Personally identifiable data that may be collected from the
company's targeted marketing programs, as well as its research programs, is
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 and pharmaceutical manufacturers for the issuance
of certain product coupons and other promotions, 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
 back to top
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
|
