Carreker Corporation, a US-based supplier of cheque processing and fraud detection systems to the banking industry, has delayed its third quarter earnings statement while it awaits the outcome of a probe into the timing of the company's revenue recognition.
Carreker reported the review into its accounting policies by a special committee of the company earlier this week. The company expects no revenue to be lost as a result of the probe, which is being followed by the SEC, but says that timing issues may shift some earnings into subsequent quarters.
Denny Carreker, the company's CEO and chairman says: "We can't estimate when the review will be completed, but I can assure you our goal is to bring these matters to closure and properly resolve any issues as quickly as possible."