Quarterhill Provides Update to Q4 and Fiscal 2021 Financial Results Announcement

Rhea-AI Summary

Quarterhill Inc. (OTCQX: QTRHF) has announced that its auditor, Ernst & Young LLP, has requested additional time to complete the audit of its financial statements for the year ended December 31, 2021, due to staffing issues. Consequently, the company will now release its financial results on March 22, 2022. A conference call will follow at 10:00 a.m. ET the same day. Quarterhill aims for growth in the Intelligent Transportation System sector through strategic acquisitions and development of its subsidiaries, including Wi-LAN Inc.

Positive

• Strategic focus on growth opportunities in the Intelligent Transportation System market.
• Continued investment strategy aimed at acquisitions to enhance market position.

Negative

• Delay in the audit process may raise concerns about financial oversight.
• Uncertainty around financial results could negatively impact investor confidence.

TORONTO, March 8, 2022 /PRNewswire/ - Quarterhill Inc. ("Quarterhill") (TSX: QTRH) (OTCQX: QTRHF) announces that its auditor, Ernst & Young LLP ("EY"), has requested an extension from Quarterhill to complete its audit of Quarterhill's financial statements for the year ended December 31, 2021, as a result of EY's staffing challenges.

Consequently, Quarterhill will now release its financial results for the three- and twelve-month periods ended December 31, 2021, on Tuesday, March 22, 2022. Bret Kidd, President and CEO, and Steve Thompson, Interim CFO, will host a conference call and audio webcast at 10:00 a.m. ET the same day.

Webcast Information
The live audio webcast will be available at:
https://produceredition.webcasts.com/starthere.jsp?ei=1528257&tp_key=1d  

Dial-in Information

• To access the call from Canada and U.S., dial 1.888.664.6392 (Toll Free)
• To access the call from other locations, dial 1.416.764.8659 (International)

Replay Information
Webcast replay will be available for 365 days at:
https://produceredition.webcasts.com/starthere.jsp?ei=1528257&tp_key=1d  

Telephone replay will be available from 1:00 p.m. ET on March 22, 2022, until 11:59 p.m. ET on March 29, 2022, at: 1.888.390.0541 (Toll Free North America) or 1.416.764.8677.

Conference ID: 31380252 and Replay Passcode: 380252

About Quarterhill
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry, as well as, through its Wi-LAN Inc. subsidiary, a leader in Intellectual Property licensing. Our goal is global leadership in ITS, via organic growth of the Electronic Transaction Consultants, LLC (ETC) and International Road Dynamics, Inc. (IRD) platforms, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, visit www.quarterhill.com      

View original content:https://www.prnewswire.com/news-releases/quarterhill-provides-update-to-q4-and-fiscal-2021-financial-results-announcement-301497923.html

SOURCE Quarterhill Inc.

FAQ

What is the new date for Quarterhill's financial results announcement in 2022?

Quarterhill will announce its financial results on March 22, 2022.

Why is there a delay in Quarterhill's audit for the year ended December 31, 2021?

The delay is due to staffing challenges faced by the auditor, Ernst & Young LLP.

What time is Quarterhill's conference call scheduled for on March 22, 2022?

The conference call is scheduled for 10:00 a.m. ET on March 22, 2022.

What stock symbols does Quarterhill operate under?

Quarterhill is listed under TSX: QTRH and OTCQX: QTRHF.