Tech Data misses filing deadline

Accounting probe taking its toll as distributor reveals in SEC statement that it will overshoot its deadline

Tech Data has admitted it will not meet the filing deadline for its most recent financial quarter as it continues to play catch-up following its account restatement woes.

The firm filed a statement to the SEC referring to its Quarterly Report on Form 10-Q for the quarter ended 30 April 2013, saying it “requires additional time to complete the required financial statements and restatement.”

It said it could not predict when it will complete the restatement, but expects that it will do so ‘beyond the permitted five-day extension of 10 June 2013”.

Back in March the distribution giant announced it was restating its numbers for the past three years due to “accounting improprieties” relating to its UK business, in a move that could knock up to $33m (£21m) off its previously reported net profit.