Why is the stockstar system inventory on Friday?

Logistics Service Specialist Landstar system (Nasdaq: LSTR) It did not seem to be a private company for investors as the trading week approached. His share price slowed by almost 4 % on Friday, on reports delay news. This decrease was particularly noticeable given that the standard S & P 500 The indicator increased a day, a 0.6 % increase.

Landstar announced this morning that the release of its profits in the first quarter, scheduled for next Tuesday, April 29, has been changed forward. The company said it will instead reveal these results on May 13, again on Tuesday. Accordingly, you will make an official notice of the late file with the United States Securities and Stock Exchange Committee.

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By clarifying, Landstar wrote in its press statement on this topic, “I defined a fraud in the supply chain that does not include truck load services in North America.” This disturbing development did not clarify, but he said that the delay was linked to the evaluation of its effect.

It also mentioned that it will directly affect its basics, although this damage should not exceed $ 15 million to net income. On the basis of each post, this is $ 0.43.

As some of Stopgap, Landstar has provided several numbers for a quarter. The total revenue was just more than $ 1.15 billion, while the profits per share – are not counted for the aforementioned impact of fraud – reached $ 0.95. Both numbers were near the upper end of the administration.

While it is somewhat comfortable that Landstar was profitable, just mentioning fraud is truly disturbing investors. They will expect a complete explanation when publishing the results of the first quarter; Difficult questions will also be asked in the collective call that the company keeps to discuss the results.

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