Northwest Pipe Co. said Wednesday it will be late in filing its quarterly financial report for the period ended Sept. 30.
This is a result of the time and “extraordinary” resources the Vancouver-based maker of steel pipe spent on restating financial reports, the company said.
On Nov. 4, the company issued restated financial reports, some going back as far as 2007. In July, Northwest Pipe disclosed that it overstated profits by $37 million to $47 million over the course of a number of years. The company is the subject of an SEC investigation. It faces a class-action lawsuit. It also has faced repeated delisting threats from the Nasdaq stock exchange for failing to file timely financial results.
Northwest Pipe (Nasdaq: NWPX) shares closed up 1.35 percent on Wednesday at $22.54.
