Comverse Technology Announces Delisting From NASDAQ Effective February 1, 2007
31 Gennaio 2007 - 2:30PM
Business Wire
Comverse Technology, Inc. (NASDAQ: CMVT) today announced that the
company received a decision, dated January 30, 2007 (the
�Decision�), from the NASDAQ Listing and Hearing Review Council
(the �Listing Council�), stating that the company�s common stock
will be delisted from NASDAQ, effective at the open of business on
Thursday, February 1, 2007. As previously disclosed, the Nasdaq
Listing Qualifications Panel, in a decision dated September 26,
2006, determined to delist the company�s common stock from NASDAQ,
which decision was stayed pending further action by the Listing
Council. Following the delisting of the company�s common stock from
NASDAQ, the company expects that its common stock will be quoted in
the �Pink Sheets� beginning on February 1, 2007. The company
expects that the trading symbol of its common stock will remain the
same (CMVT or CMVT.PK). Information about the Pink Sheets can be
found at its Internet web site www.pinksheets.com. Mark Terrell,
Comverse Technology�s Chairman, said, �Comverse Technology remains
a financially strong, world class company with more than 7,000
employees serving customers in more than 100 countries. The NASDAQ
decision will not affect our ability to continue providing
outstanding products, technology and service to our customers
worldwide. We are committed to regaining compliance with all filing
requirements and obtaining relisting of our common stock in a
timely manner.� As a result of the delisting of the company�s
common stock from NASDAQ, holders of the company�s Zero Yield
Puttable Securities (ZYPSSM) due May 15, 2023 and New Zero Yield
Puttable Securities (ZYPSSM) due May 15, 2023 (collectively, the
�ZYPS�) will have the right to require the company to repurchase
their ZYPS at a purchase price equal to 100% of the principal
amount of the ZYPS purchased. The aggregate outstanding principal
amount of ZYPS under the applicable Indentures was approximately
$419,647,000. As of October 31, 2006, the Company had cash and cash
equivalents, bank time deposits and short term investments of
$1,867,761,000. About Comverse Technology, Inc. Comverse
Technology, Inc., through its Comverse, Inc. subsidiary, is the
world�s leading provider of software and systems enabling
network-based multimedia enhanced communication and billing
services. The company�s Total Communication portfolio includes
value-added messaging, personalized data and content-based
services, and real-time converged billing solutions. Over 450
communication and content service providers in more than 120
countries use Comverse products to generate revenues, strengthen
customer loyalty and improve operational efficiency. Other Comverse
Technology subsidiaries include: Verint Systems (NASDAQ: VRNT), a
leading provider of analytic software-based solutions for
communications interception, networked video security and business
intelligence; and Ulticom (NASDAQ: ULCM), a leading provider of
service enabling signaling software for wireline, wireless and
Internet communications. Comverse Technology is an S&P 500 and
NASDAQ-100 Index company. For additional information, visit the
Comverse website at www.comverse.com or the Comverse Technology
website at www.cmvt.com All product and company names mentioned
herein may be registered trademarks or trademarks of Comverse or
the respective referenced company(s). Note: This release contains
"forward-looking statements" under the Private Securities
Litigation Reform Act of 1995 that involve risks and uncertainties.
There can be no assurances that forward-looking statements will be
achieved, and actual results could differ materially from forecasts
and estimates. Important factors that could cause actual results to
differ materially include: the results of the investigation of the
Special Committee, appointed by the Board of Directors on March 14,
2006, of matters relating to the company's stock option grant
practices and other accounting matters, including errors in revenue
recognition, errors in the recording of deferred tax accounts,
expense misclassification, the possible misuse of accounting
reserves and the understatement of backlog; the impact of any
restatement of financial statements of the company or other actions
that may be taken or required as a result of such reviews; the
company's inability to file reports with the Securities and
Exchange Commission; the effects of the delisting of the company�s
common stock from The Nasdaq National Market and the quotation of
the company�s common stock in the �Pink Sheets,� including any
adverse effects relating to the trading of the stock due to, among
other things, the absence of market makers; the right of holders of
the company's ZYPS to require the company to repurchase their ZYPS
as a result of the delisting of the company's shares from NASDAQ at
a repurchase price equal to 100% of the principal amount of ZYPS to
be purchased; risks of litigation and of governmental
investigations or proceedings arising out of or related to the
company's stock option grants or any other accounting
irregularities or any restatement of the financial statements of
the company, including the direct and indirect costs of such
investigations and restatement; risks associated with integrating
the businesses and employees of the Global Software Services
division acquired from CSG Systems International, Netcentrex S.A.
and Netonomy, Inc.; changes in the demand for the company's
products; changes in capital spending among the company's current
and prospective customers; the risks associated with the sale of
large, complex, high capacity systems and with new product
introductions as well as the uncertainty of customer acceptance of
these new or enhanced products from either the company or its
competition; risks associated with rapidly changing technology and
the ability of the company to introduce new products on a timely
and cost-effective basis; aggressive competition may force the
company to reduce prices; a failure to compensate any decrease in
the sale of the company's traditional products with a corresponding
increase in sales of new products; risks associated with changes in
the competitive or regulatory environment in which the company
operates; risks associated with prosecuting or defending
allegations or claims of infringement of intellectual property
rights; risks associated with significant foreign operations and
international sales and investment activities, including
fluctuations in foreign currency exchange rates, interest rates,
and valuations of public and private equity; the volatility of
macroeconomic and industry conditions and the international
marketplace; risks associated with the company's ability to retain
existing personnel and recruit and retain qualified personnel; and
other risks described in filings with the Securities and Exchange
Commission. These risks and uncertainties discussed above, as well
as others, are discussed in greater detail in the filings of the
company with the Securities and Exchange Commission, including its
most recent Annual Report on Form 10-K and subsequent Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K. These
documents are available through the company, or its website,
www.cmvt.com, or through the SEC's Electronic Data Gathering
Analysis and Retrieval system (EDGAR) at www.sec.gov. The Company
makes no commitment to revise or update any forward-looking
statements in order to reflect events or circumstances after the
date any such statement is made.
Grafico Azioni Comverse Technology, Inc. (MM) (NASDAQ:CMVT)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Comverse Technology, Inc. (MM) (NASDAQ:CMVT)
Storico
Da Lug 2023 a Lug 2024