DaimlerChrysler delays publishing first quarter report

By From autonews| Mar 28 2007
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DaimlerChrysler has postponed publishing its 2007 first-quarter results to mid-May from April as a result of its switch from U.S. GAAP to the pan-European International Financial Reporting Standards (IFRS), the company said today.

DaimlerChrysler will not publish its interim report on the first quarter of 2007 on April 26 as was originally planned, but on May 15, the company said in a statement.

"This change of date has been caused solely by delays with the preparation of the financial statements for the year 2006 and with the parallel work for the IFRS financial statements," it said.

Although most publicly-listed companies in EU member states were obliged to adopted IFRS rules from January 2005, DaimlerChrysler was among those allowed by Germany to put off making the transition until 2007 because of its use of the U.S. GAAP standard.

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