CareFusion Further Delays Filing Annual Report San Diego, Calif.-based medical device firm CareFusi

CareFusion Further Delays Filing Annual Report
San Diego, Calif.-based medical device firm CareFusion Corporation again has delayed filing its annual report with the U.S. Securities and Exchange Commission (SEC) for FY2012, ended June 30. A statement issued by the company reiterates the announcement it made on Aug. 29—namely, that CareFusion is consulting with the SEC about its accounting policy for sales-type leases in its Pyxis medication and supply dispensing product lines.

On Aug. 29, CareFusion was granted a 15-day extension on the filing by the SEC. The extension having expired, the company now faces a warning from the commission as well as the threat from the New York Stock Exchange (NYSE) of being delisted if it fails to file a 10-k form within six months.
“The consultation process with the SEC is ongoing,” company officials said in a statement. “Once this process is complete, the company will assess any impact on its financial statements and file its Form 10-K as soon as practicable.”

Until CareFusion files, its NYSE common stock symbol CFN will be accompanied by the marker LF, which denotes a late filing.

As of late, CareFusion has faced several Class I recalls, the class of device recalls reserved by the U.S. Food and Drug Administration for the most serious cases. It had four in the fourth quarter of FY2012 alone. However, the company did not sacrifice profit—it reported a 29 percent net profit increase on the quarter.