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HIGHLANDS RANCH, Colo., March 13, 2014 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (Nasdaq:ADES) (the "Company") today announced that it will reschedule its 2013 fourth quarter and year end news release and conference call.
Beginning with the fiscal year ended December 31, 2013, the Company engaged KPMG LLP as its new independent registered public accounting firm. The Company is currently reviewing its accounting practices, particularly its methods of recognizing revenue for its Emission Control business segment contracts. The Company expects the result of this review will likely result in increased operating losses, primarily driven by a reduction of revenues and margins for its emission control segment with a corresponding increase in backlog for the same period.
The Company expects to file a Form 12b-25 with the Securities Exchange Commission requesting an automatic extension of 15 calendar days to file its Annual Report on Form 10-K for 2013 on or before the deadline for such filing.
About Advanced Emissions Solutions, Inc.
Advanced Emissions Solutions, Inc. (Nasdaq:ADES) serves as the holding entity for a family of companies that provide emissions solutions to customers in the power generation and other industries.
ADA-ES, Inc. ("ADA") supplies Activated Carbon Injection ("ACI") for mercury control, Dry Sorbent Injection ("DSI") for acid gases, and technology services and other offerings in support of our customers' emissions compliance strategies. ADA's M-Prove™ technology, which reduces emissions of mercury and other metals from PRB coal, is applied directly to coal at power plants, or offered through a licensing agreement with Arch Coal for application at their mines. In addition, we are developing technologies to advance cleaner energy, including CO2 emissions control technologies through projects funded by the U.S. Department of Energy ("DOE") and industry participants.