NASDAQ Panel Grants Terayon's Request for Continued Listing
19 Janeiro 2006 - 8:00PM
PR Newswire (US)
SANTA CLARA, Calif., Jan. 19 /PRNewswire-FirstCall/ -- Terayon
Communication Systems, Inc. (NASDAQ:TERNE), a leading provider of
digital video networking applications and home access solutions,
announced today that The NASDAQ Listing Qualifications Panel has
granted its request for continued listing, subject to certain
conditions. As previously announced, NASDAQ had earlier notified
Terayon of its intention to delist Terayon's stock based on the
Company's failure to timely file its quarterly report on Form 10-Q
for the quarter ended September 30, 2005, and the Company's failure
to solicit proxies and hold an annual shareholders' meeting during
2005. As previously announced, the Company was unable to timely
file the Form 10-Q and to solicit proxies and hold the annual
meeting due to the review the Company is performing on the
recognition of revenue for certain transactions during prior
periods. There are three conditions to the Panel's grant of
continued listing: (1) on or before January 31, 2006, Terayon must
provide NASDAQ with a copy of the final investigatory report, if
any, and a response to questions relating to the Company's internal
accounting review; (2) on or before March 31, 2006, Terayon shall
file its Form 10-Q for the period ended September 30, 2005 and all
required restatements; and (3) on or before March 31, 2006, Terayon
shall file its proxy statement for the 2005 annual meeting, with a
record and meeting date as soon thereafter as possible. The Company
is making every effort to comply with these requirements; however,
there can be no assurance that it will be able to do so within the
Panel's deadlines, or that it will avoid delisting from NASDAQ.
Terayon's trading symbol will remain TERNE pending a determination
that the Company is in full compliance with NASDAQ's filing
requirements and has evidenced compliance with all other
requirements for continued listing on NASDAQ. About Terayon Terayon
Communication Systems, Inc. provides digital video networking
applications and home access solutions that enable the delivery of
advanced digital video, voice and data services. Service providers
worldwide have deployed more than 6,000 of Terayon's digital video
systems to brand their programming, insert millions of digital ads,
offer HDTV and other digital video services. More than five million
Terayon cable modems and other home access solutions have been
deployed by cable operators globally to provide broadband Internet
access and VoIP telephony. Terayon maintains its headquarters in
Santa Clara, California; has sales and support offices worldwide
and is on the web at http://www.terayon.com/. "Safe Harbor"
Statements under the Private Securities Litigation Reform Act of
1995: Except for historical information contained in this press
release, the matters discussed in this press release are
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to a number of risks
and uncertainties that may cause actual results to differ
materially from those contained in the forward-looking information.
Such forward-looking statements include, but are not limited to,
statements relating to the nature of Terayon's accounting review,
statements relating to the expected outcome of Terayon's accounting
review, and other statement that are not historical facts. The
following factors, among others, could cause actual results to
differ from those set forth in the forward-looking statements: the
timing and success of any hearing before a NASDAQ Listing
Qualifications Panel, the timing and results of the completed
review into possible accounting errors, the timing of the filing of
Terayon's Form 10-Q for the third quarter of fiscal year 2005, the
timing of the filing of Terayon's proxy statement for its 2005
annual shareholders meeting, the need for any corrective actions in
connection with Terayon's accounting practices, the actual timing
and extent of any restatement of prior financial results, the
reaction to any such restatement by Terayon's stockholders and
customers, as well as changes in economic, business, competitive,
technological and/or regularly factors and trends. Additional
factors that may affect future results are contained in Terayon's
SEC reports, including its most recent Annual Report on Form 10-K
and Quarterly Report on Form 10-Q, particularly in the "Risk
Factors" and "Management Discussion and Analysis of Financial
Condition and Results of Operations" sections. Such filings are
available at the SEC's website http://www.sec.gov/. Terayon
disclaims any obligation or intent to update and revise the
statements contained in this release based on new information or
otherwise. NOTE: Terayon and the Terayon logo are registered
trademarks of Terayon Communication Systems, Inc. All other
trademarks are property of their respective owners. DATASOURCE:
Terayon Communication Systems, Inc. CONTACT: press, Rebecca West of
AtomicPR, +1-415-402-0230, or ; or investors, Kirsten Chapman or
Moriah Shilton, , both of Lippert/Heilshorn & Associates,
+1-415-433-3777, all for Terayon Communication Systems, Inc. Web
site: http://www.terayon.com/
Copyright
Terayon Communication Systems (NASDAQ:TERNE)
Gráfico Histórico do Ativo
De Ago 2024 até Set 2024
Terayon Communication Systems (NASDAQ:TERNE)
Gráfico Histórico do Ativo
De Set 2023 até Set 2024