Lazare Kaplan cannot report its results of operations for the second quarter because it has been unable to resolve a material uncertainty concerning the collectability and recovery of certain assets, and the company’s potential obligations under certain lines of credit and a guaranty, according to an SEC filing.

The company anticipates net sales of approximately $97.2 million and $23.0 million for the six and three months ended November 30th as compared to net sales of $119.6 million and $41.3 million for the comparative prior year periods.

JCK