BMC asks for more time to get books SOX-ready

Sarbanes Oxley (SOX) has claimed another scalp with BMC today saying it will delay the filing of its annual report in order to buy more time to live up to the Act's exacting standards.

BMC will ask the US SEC (Securities and Exchange Commission) for a 15-day extension to file Form 10-K for the fiscal year ended March 31. The software maker "will file for the automatic extension because it will not complete the preparation of its consolidated financial statements and management's assessment of internal controls over financial reporting as required by" SOX. The delay has caused BMC to push back its fourth quarter earnings announcement as well.

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