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NOVATEL WIRELESS : Novatel Wireless Receives Notice

luyckxj
15 août 200814:36

Novatel Wireless Receives Notice from Nasdaq
Due to Late Filing of Form 10-Q

August 15, 2008 8:30 AM EDT


SAN DIEGO--(BUSINESS WIRE)--

Novatel Wireless, Inc. (Nasdaq: NVTL) announced today that due to the delay in the filing of its Quarterly Report on Form 10-Q for its quarter ended June 30, 2008, it has received, as expected, a Nasdaq Staff Determination Letter indicating that the Company is not in compliance with the Nasdaq continued listing requirements set forth in Nasdaq Marketplace Rule 4310(c)(14).

The Company delayed filing its Quarterly Report on Form 10-Q for the quarters ended March 31st and June 30, 2008 as a result of the self-initiated expanded review undertaken by the Company and its Audit Committee of the Company's revenue cut off procedures, internal controls and accounting related to certain customer contracts, which review is ongoing. On July 17, 2008, the Company met with the NASDAQ Listing Qualifications Panel to request an extension of its conditional listing. The Panel subsequently granted an extension to its conditional listing until October 17, 2008. The Company intends to file its Quarterly Reports on Form 10-Q as soon as practicable after completion of the review.

Source:
http://www.streetinsider.com/Press+Releases/Novatel+Wireless+Receives+Notice+from+Nasdaq+Due+to+Late+Filing+of+Form+10-Q/3918143.html

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