MatrixOne Receives Additional Extension from Nasdaq
13 October 2005 - 7:15AM
Business Wire
MatrixOne, Inc. (NASDAQ: MONEE), a leading provider of
collaborative product lifecycle management (PLM) solutions for the
value chain(TM), today announced that it has received notice from
the Nasdaq Listing Qualifications Panel (the "Panel") granting the
Company an additional extension for continued listing on The Nasdaq
National Market, subject to certain conditions. The Panel's
determination is subject to the Company providing a public
disclosure by October 17, 2005 as to the status of the Company's
previously announced audit committee review, the estimated range of
the related restatements, and the Company's projected filing dates
with the Securities and Exchange Commission ("SEC") for its
Quarterly Report on Form 10-Q for the quarter ended April 2, 2005
("Form 10-Q"), its Annual Report on Form 10-K for the fiscal year
ended July 2, 2005 ("Form 10-K"), and all required restatements.
The Panel's determination is also subject to the condition that the
Company file with the SEC its Form 10-Q, Form 10-K and all required
restatements, on or before November 8, 2005, as permitted under
Marketplace Rules governing additional extensions. The Panel also
conditioned the continued listing on the Company's ability to
demonstrate compliance with all other requirements for continued
listing on The Nasdaq National Market once it regains compliance
with Nasdaq's filing requirements. The Panel had previously granted
the Company an exception until September 30, 2005 to file with the
SEC its Form 10-Q, Form 10-K and all required restatements. In a
press release issued by the Company on September 29, 2005, the
Company announced that it was requesting an additional extension
from the Panel for the filing of these periodic reports. The
Company requested an additional extension in a letter to the Panel
dated September 30, 2005. The Company subsequently received a
Nasdaq Staff Determination letter indicating that the Company was
not in compliance with the Nasdaq requirements for continued
listing set forth in Nasdaq Marketplace Rule 4310(c)(14) with
respect to the Company's failure to file its Form 10-K with SEC. As
previously announced, upon the filing of the periodic reports
referenced above, the Company expects to be in compliance with
Nasdaq's requirements for continued listing. The fifth character
"E" will remain appended to the Company's symbol pending a final
determination that the Company is fully compliant with Nasdaq's
filing requirements. About MatrixOne MatrixOne, Inc. (NASDAQ:
MONEE), a leading global provider of collaborative product
lifecycle management (PLM) software and services, enables companies
to accelerate product innovation to achieve top line revenue growth
and improve bottom line profitability. With world-class PLM
solutions and a commitment to customer success, MatrixOne is
focused on helping companies across the automotive, aerospace &
defense, consumer, machinery, medical device, semiconductor and
high-tech industries solve their most challenging new product
development and introduction problems. More than 800 companies use
MatrixOne's solutions to drive business value and gain a
competitive advantage, including industry leaders such as BAE
Systems, Bosch, Comau, General Electric, Honda, Johnson Controls,
Linde AG, NCR, Nokia, Philips, Porsche, Procter & Gamble, Sony
Ericsson, STMicroelectronics and Toshiba. MatrixOne
(www.matrixone.com) is headquartered in Westford, Massachusetts,
with locations throughout North America, Europe and Asia-Pacific.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 - Forward-looking statements in this release do
not constitute guarantees of future performance. Such
forward-looking statements are subject to risks and uncertainties
that could cause our actual results to differ materially from those
anticipated. Such statements relate, among other things, to our
expected compliance with Nasdaq requirements for continued listing.
The risks and uncertainties that may affect forward-looking
statements include, among others: the continued listing of our
common stock on the NASDAQ Stock Market, unforeseen issues
encountered in the review of our revenue recognition practices, and
the completion of our audit for the fiscal year ended July 2, 2005.
For a more detailed discussion of the risks and uncertainties of
our business, please refer to our periodic reports and registration
statements filed with the Securities and Exchange Commission,
including our Annual Report on Form 10-K for the fiscal year ended
July 3, 2004, our Registration Statement on Form S-3 filed on
September 29, 2004 as amended, and our Quarterly Report on Form
10-Q for the fiscal quarter ended January 1, 2005. However, the
financial statements and other financial information therein may
not be relied upon until the restatement process and related audit
are completed. The forward-looking statements included in this
press release represent our views as of the date of this press
release. We anticipate that subsequent events and developments may
cause our views to change. We assume no obligation to update any
forward-looking information contained in this press release or with
respect to the announcements described herein. MatrixOne and the
MatrixOne logo are registered trademarks, and "a leading provider
of collaborative product lifecycle management (PLM) solutions for
the value chain" is a trademark of MatrixOne, Inc. All other
trademarks and service marks are the property of their respective
owners.
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