Nasdaq yesterday added an "E" on the end of Consolidated Freightways' (CF) ticker symbol and warned that the company could be delisted because it hasn't filed its second-quarter financial report.
The "E" is reserved for companies whose filings with the U.S. Securities and Exchange Commission are delinquent.
The Vancouver-based carrier has missed two deadlines for filing the report, the latest on Monday. Company officials say new CEO John Brincko and CFO Steve Sokol have not had time to finish the financial report for the quarter ended June 30.
CF has appealed to keep from being delisted, spokesman Mike Brown said. Brown said the quarterly report will filed within the next two weeks.
The company said Monday that it has not yet completed the second-quarter financial statements or the related management's discussion and analysis of financial condition and results of operations.
CF has been treading rough financial waters. It posted a net loss of $36.5 million on first quarter revenue of $463 million as it lost business over what it called "growing competitive pricing pressure." It lost $104.3 million in 2001, including a $37.5 million fourth-quarter loss.