Camping World Holdings Inc. announced that it has filed a Form 12b-25 with the U.S. Securities and Exchange Commission providing the company a 15-day extension to file its annual report on Form 10-K for the year ended Dec. 31, 2018.
The company expects to file its Form 10-K promptly and to schedule a conference call to discuss 2018 results in conjunction with the filing.
SGB Media reported that Camping World said that during its year-end 2018 financial statement review process, the company identified the necessity to adjust the manner in which reserves related to the cancelation provisions of certain finance and insurance related offerings are calculated. The company is evaluating the materiality of this adjustment both qualitatively and quantitatively in accordance with Staff Accounting Bulletin (SAB) No. 99, Materiality, and SAB No. 108 and expects the determination of the effect of the adjustments to the previously issued financial statements as of and for the years ended Dec. 31, 2017 and 2016 to be immaterial, and the company expects to make immaterial adjustments to the previous period financial statements in its Form 10-K to reflect the correction of these calculations.
Given the additional time required to fully complete the company’s assessment of the matter, the company is unable to file its Form 10-K within the prescribed time period without unreasonable effort or expense.