OWINGS MILLS, Md., March 11, 2011 /PRNewswire/ -- Medifast, Inc. (NYSE: MED), a leading provider of clinically proven portion-controlled weight-loss programs, announced today that it expects to release its fourth quarter and full year 2010 financial results and hold a conference call at approximately the end of March, 2011. The Company requires additional time to complete its year-end financial statements. The delay in releasing results is due to additional time needed for the Company to review the recognition of certain expenses in prior periods, and therefore, complete its consolidated financial statements for fiscal 2010 and its Annual Report on Form 10-K. Accordingly, the Company anticipates filing a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission with respect to its Form 10-K, which allows the Company an additional 15 calendar days to file the Form 10-K which is otherwise due on March 16, 2011. Details regarding the specific release date and conference call will be provided in a forthcoming news release.
In 2010, Medifast, Inc. engaged the firm of McGladrey & Pullen, LLP/ RSM McGladrey to perform audit and tax services for Medifast, Inc. The Company determined that the firm has the national experience to provide audit and tax services to Medifast, Inc., one of the fastest growing small company's according to Forbes, which named it the #1 Small Company in America.
The Company will be announcing unaudited first quarter 2011 revenue and trending of key metrics on the fourth quarter and year end conference call.
Medifast, Inc. (NYSE: MED) is a leading provider of clinically proven, portion-controlled weight-loss programs. Medifast has been recommended by over 20,000 doctors and used by over one million clients since 1980. The Company is committed to enriching lives by providing innovative choices for lasting health. Medifast programs have been proven effective through studies by major universities. The company sells its products and programs via four unique distribution channels: 1) the web and national call centers, 2) the Take Shape for Life personal coaching division, 3) medically supervised Medifast Weight Control Centers, and 4) a national network of wholesale physicians and medical practices. Medifast was founded in 1980 and is located in Owings Mills, Maryland. For more information, please visit http://www.choosemedifast.com.