SANTA CLARA, Calif., Aug. 16 /PRNewswire-FirstCall/ -- Coherent, Inc.
(Nasdaq: COHR) today announced that, as anticipated, on August 13, 2007, it
received an additional NASDAQ Staff Determination letter indicating that
the Company is not currently in compliance with NASDAQ's listing
requirements as set forth in Marketplace Rule 4310(c)(14) due to the
delayed filing of the Company's Form 10-Q for the fiscal quarter ended June
30, 2007. The notice stated that the delay in filing could serve as an
additional basis for delisting of the Company's securities.
As previously disclosed, NASDAQ initially informed the Company on
December 19, 2006 that its securities would be delisted due to the
Company's delay in filing its Form 10-K for the fiscal year ended September
30, 2006 unless the Company requested a hearing in accordance with
applicable NASDAQ Marketplace Rules. The Company subsequently requested and
was granted a hearing before the NASDAQ Listing Qualifications Panel
("Panel") on February 15, 2007 to request an extension for continued
listing on the NASDAQ Global Select Market. On April 3, 2007, the Panel
issued a decision granting the Company a conditional extension to file its
Form 10-K for the fiscal year ended September 30, 2006, its Form 10-Q for
the quarter ended December 30, 2006, and any required restatements. By
letter dated May 18, 2007, the NASDAQ Listing and Hearing Review Council
("Listing Council") called the Panel's April 3, 2007 decision for review
and determined to stay any decision to suspend the Company's securities
pending further action by the Listing Council. Although the Company is
working diligently to file its delinquent filings, there can be no
assurance that the Listing Council will grant an extension for continued
listing. Shares of Coherent common stock will continue trading on the
NASDAQ pending the Listing Council's decision.
Founded in 1966, Coherent, Inc. is a Standard & Poor's SmallCap 600
company and a world leader in providing laser-based solutions to the
commercial and scientific research markets.
Please direct any questions to Peter Schuman, Director, Investor
Relations at 408-764-4174. For more information about Coherent, visit the
Company's Web site at http://www.coherent.com/ for product and financial
updates.
SOURCE Coherent, Inc.
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Related links:
http://www.coherent.com
CONTACT:
Peter Schuman, Director, Investor Relations
of Coherent, Inc., +1-408-764-4174
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