The company requires additional time to complete its review of certain financial information to be included in its financial statements reported in the Form 10-Q, which has been delayed by the recent decision of its board of directors to discontinue its LionHeart LVAS program to focus on developing the CoreAid ventricular assist device.

In addition, Arrow said it has completed its analysis of the accounting treatment related to its U.S. shipping terms, as discussed in a March 21 press release announcing its preliminary second fiscal quarter results, and will record an adjustment in its second quarter to reflect in-transit time for its sales to U.S. customers and international distributors.