A-Power Energy (APWR) Explains Delay Of Financial Report

A-Power Energy (APWR) is explaining this morning why it’s delayed its earnings report.  They are basically just reiterating that it needs more time to complete the 2010 audit after both the internal and external teams indicated they wouldn’t finish in time.

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"While we very much regret the delay and confusion caused by our premature announcement of the conference call, it is most important that our financial statements for the year ended December 31, 2010 are completed with all due care and that these financial statements are accurate and reliable when they are released.

"I again confirm that the delay was not the result of any accounting irregularities or investigation of accounting errors, nor do we expect any restatement of A-Power’s previously audited financial statements as a result of the ongoing audit processes for 2010."

Shares of APWR are moving up a bit on the news up over 2%.

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