A 10Q is a quarterly financial report filed with the SEC (Security and Exchange Commission). It gives the stockholders of a company an update on the financial condition of a specific company. This report is not nearly as detailed as the annual filing which is known as a 10K.
For Delta guys it really means nothing. It appears on the surface that one of the reasons Delta delayed filing their report, was because of the sale of ASA. This sale has a major impact, in terms of dollars, on the financial statements and thus Delta waited to file. Now their could be countless other reasons why they filed late too.
They also filed late because their M/C and VISA credit card agreement was due to expire on 8/31. They could not file with that up in the air. They needed to get an extension because the vendor wants a big chunk of cash on deposit. They got the extension to 10/31--it is announced in the filing today.