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comScore Plans to File Financial Results - Broadcasting & Cable

comScore Plans to File Financial Results

Business update call scheduled for Monday
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comScore said it expects to file its annual report for 2017 and audited financial statements for 2016 and 2015 on Friday after the market closes.

The company was forced to do a re-audit after accounting issues cropped up two years ago. Since then, its stock has been delisted, it has gone through two CEOs and control of the company has passed to activist investor Starboard Value.

The issues came up following comScore’s acquisition of Rentrak. Combining comScore, a leader in online measurement, with Rentrak, which uses big data to measure TV, was expected to create a competitor to market leader Nielsen.

Instead management attention was diverted and millions were spent on the re-audit.

ComScore also said that it would be releasing restated results for 2013 and 2014 and will have a business update conference call on Monday.

Because of the irregularities and the re-audit, comScore has not filed normal quarterly reports this year.

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The company said it expects to file 10Q reports for the quarters ended Sept. 30, June 30 and March 31, 2017 on Friday.

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