RMS Changes Fiscal Year End
CHESTER, NY / ACCESSWIRE / April 27, 2017 / Repro Med Systems, Inc., dba RMS Medical Products (OTCQX: REPR) ("RMS" or the "Company"), announced that the Board of Directors approved a change in the Company's fiscal year end from February 28 to December 31. Accordingly, the Company will file its Form 10-K for the fiscal year ending February 28, 2017 in May 2017. For its new fiscal year ending December 31, 2017, it will file its Form 10-K for ten months ending December 31, 2017 and twelve months ending February 28, 2017 in March 2018. With this fiscal year end change, the Company will report one-time, transitional financial information for the month of March, 2017 and the quarter April through June 2017 on Form 10-Q in August 2017.
"This change is being made by the Company to better align the Company's financial reporting calendar with its industry peers, suppliers and customers," said Karen Fisher, RMS Chief Financial Officer. "We recognize that the fiscal-year change will involve some short-term inconvenience for those who follow our financial results, but we believe it is the right thing to do for our business, and we're committed to providing the necessary information in a timely and transparent manner."
RMS Medical Products is the leading manufacturer of medical products used for home infusions and suctioning. The infusion product portfolio currently includes the FREEDOM60® and our latest FreedomEdge® Syringe Infusion Drivers, RMS Precision Flow Rate Tubing™ and RMS HIgH-Flo™ Subcutaneous Safety Needle Sets. These devices are used for infusions administered in professional healthcare settings as well as at home. The Company's RES-Q-VAC® line of medical suctioning products is used by emergency medical service providers in addition to a variety of other healthcare providers. The Company's website may be visited at www.rmsmedicalproducts.com.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief" "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.
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SOURCE: Repro Med Systems, Inc.
Released April 27, 2017