An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Natuzzi S.p.A. Postpones Dates for the 2022 Fourth Quarter and Full-Year Financial Information and Conference Call
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Natuzzi S.p.A (NYSE: NTZ) has announced a postponement of its 2022 fourth quarter and full-year financial results, initially set for April 5 and 6, 2023. This delay is due to the need for additional procedures to ensure accurate financial reporting by its joint venture in China, where Natuzzi holds a 49% stake. The Company anticipates that these procedures will be completed in the first half of April 2023. An updated schedule for the earnings release and conference call will be provided once available.
Positive
Natuzzi is taking steps to ensure accurate financial reporting by its joint venture in China.
Negative
Postponement of financial results may lead to investor uncertainty.
Delay in reporting could affect market perception and stock performance.
SANTERAMO IN COLLE, Bari, Italy--(BUSINESS WIRE)--
Natuzzi S.p.A. (NYSE: NTZ) (“Natuzzi” or the “Company”) announced today that the Company is postponing its release of the Company’s 2022 fourth quarter and full-year financial results and conference call, originally scheduled for April 5, 2023 and April 6, 2023, respectively.
The Company’s joint venture in China, in which Natuzzi retains a 49% interest and which is accounted for in the Company’s consolidated financial statements using the equity method, needs to carry out certain additional procedures to ensure the accuracy of its reporting of financial information for 2022 and, therefore, has not yet completed its preparation of the full-year ended December 31, 2022 financial results. The board of directors of the Company will wait for such procedures to be substantially completed before approving and releasing the Company’s 2022 fourth quarter and full-year financial results.
The Company expects that such procedures will be substantially completed within the first half of April 2023. The Company will announce the updated dates for its earnings release and conference call as soon as they are available.
Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. is one of the most renowned brands in the production and distribution of design and luxury furniture. With a global retail network of 703 mono-brand stores and 508 galleries as of December 31, 2022, Natuzzi distributes its collections worldwide. Natuzzi products embed the finest spirit of Italian design and the unique craftmanship details of the “Made in Italy”, where a predominant part of its production takes place. Natuzzi has been listed on the New York Stock Exchange since May 13, 1993. Always committed to social responsibility and environmental sustainability, Natuzzi S.p.A. is ISO 9001 and 14001 certified (Quality and Environment), ISO 45001 certified (Safety on the Workplace) and FSC® Chain of Custody, CoC (FSC-C131540).
