Post Holdings Inc : Post Holdings, Inc. Delays Announcement of Second Quarter Fiscal 2012 Financial Results
05/16/2012| 10:33pm US/Eastern
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St. Louis, U.S.A., May 16, 2012 (Thomson Reuters ONE via
COMTEX) --St. Louis, Missouri - May 16, 2012 - As previously
announced, Post Holdings, Inc. is restating its financial
statements for the year ended September 30, 2011 and the
fiscal quarter ended December 31, 2011 as a result of Ralcorp
Holding, Inc.'s restatement. Ralcorp has now postponed
the release of its financial results and the filing of its
quarterly report on Form 10-Q for the second quarter ended
March 31, 2012 in order to conclude both the internal and
external in-depth reviews associated with its previously
announced financial restatements. While Post management is
not participating in Ralcorp's review process, Post
management is not aware of any issues from such review which
would affect Post beyond the goodwill impairment charge
previously reported. However, because Post was a wholly-owned
subsidiary of Ralcorp and subject to Ralcorp's accounting
and financial reporting processes during the periods affected
by this review, there can be no assurance that Post will not
be further impacted. Until Ralcorp completes its restatement,
Post is not in a position to proceed with the announcement of
its second quarter financial results, the filings necessary
to effectuate the restatement or its Form 10-Q for the second
quarter.
Accordingly, Post is also postponing its second quarter 2012
conference call previously scheduled to take place on Monday,
May 21, 2012. Specific details regarding the date and time of
the Company's second quarter earnings release and
conference call will be announced separately. The Company
intends to file a Form 8-K/A and Form 10-Q/A in order to
complete the restatement of these financial statements, issue
second quarter financial results and file the Company's
second quarter Form 10-Q upon Ralcorp's completion of its
review.
Forward-Looking Statements
Forward-looking statements, within the meaning of Section 21E
of the Securities Exchange Act of 1934, are made throughout
this release, including with respect to the impact and timing
of the Company's restatement. These forward-looking
statements are sometimes identified by the use of terms and
phrases such as "believe," "should,"
"would," "expect," "project,"
"estimate," "anticipate,"
"intend," "plan," "will,"
"can," "may," or similar expressions
elsewhere in this release. All forward-looking statements are
subject to a number of important factors, risks,
uncertainties and assumptions that could cause actual results
to differ materially from those described in any
forward-looking statements. These factors and risks include,
but are not limited to, the preliminary nature of the
Company's assessment of the adjustments in connection
with the internal and external reviews, the timing of the
Company's restatement of its financial statements, the
Company's ability to file its Quarterly Report on Form
10-Q for the fiscal quarter ended March 31, 2012 within
contractual deadlines, including under its debt agreements,
and other financial, operational and legal risks and
uncertainties detailed from time to time in the Company's
cautionary statements contained in its filings with the
Securities and Exchange Commission. The Company disclaims and
does not undertake any obligation to update or revise any
forward-looking statement in this press release.
About Post Holdings, Inc.
Post Holdings, Inc. is the parent company of Post Foods, LLC.
Post has enriched the lives of consumers, bringing quality
foods to the breakfast table since the company's founding
in 1897. Post's products are generally sold to
supermarket chains, wholesalers, supercenters, club stores,
mass merchandisers, distributors, convenience stores and the
foodservice channel in North America. Those products are
manufactured at four facilities located in Battle Creek,
Michigan; Jonesboro, Arkansas; Modesto, California; and
Niagara Falls, Ontario. Post's portfolio of brands
includes diverse offerings to meet the taste and nutritional
needs of all families, including such favorites as Honey
Bunches of Oats®, Pebbles®, Great Grains®, Post Shredded
Wheat®, Post® Raisin Bran, Grape-Nuts®, and Honeycomb®. Post
is dedicated to health and wellness, offering consumers a
variety of cereal choices to meet their nutritional needs
from whole grain and fiber to lower sugar offerings. For more
information, visit www.postfoods.com.
Contact:
Pia Koster, Director, Investor Relations
(314) 644-7678 (POST)
This announcement is distributed by Thomson Reuters on behalf
of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright
and other applicable laws; and
(ii) they are solely responsible for the content, accuracy
and originality of the
information contained therein.
Source: Post Holdings, Inc.
HUG#1613029
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