Inogen Announces Audit Committee Investigation Into Accounting Matters

(RTTNews) - Inogen Inc. (INGN) announced that during the first quarter of 2015 certain potential accounting matters were discovered by management, which prompted the Audit Committee, with the assistance of independent advisors, to commence an internal investigation.

The Audit Committee is investigating whether there were any violations of the Company's accounting policies associated with these potential accounting matters. The Audit Committee has not reached any conclusion because of the investigation, and the Company cannot predict the outcome of the investigation or when it will be completed.

Inogen said it remains confident in its strategy, top-line growth and profitability and does not believe these matters will impact the Company's previously stated outlook for Fiscal Year 2015 or its long-term business plan.

The company said it postponed its fourth quarter and fiscal year 2014 earnings release and conference call, which had been scheduled for March 12, 2015. Inogen will announce such results as soon as practicable following the completion of the Audit Committee's investigation.

INGN closed Wednesday's regular trading at $37.34, up $3.42 or 10.08%. However, in the after-hours, the stock was down $8.34 or 22.34%.