CSP Updates Status of 2005 Form 10-K and Delisting Notification
25 Gennaio 2006 - 9:39PM
PR Newswire (US)
BILLERICA, Mass., Jan. 25 /PRNewswire/ -- CSP Inc. (NASDAQ:CSPIE),
a provider of IT Solutions, systems integration services and dense
cluster computing systems, announced today that it is continuing
the work on its annual report on Form 10-K for its fiscal year
ended September 30, 2005. The principal cause of delay is the
preparation of revisions to the Company's statements of cash flows
in prior periods. Such revisions do not affect previously disclosed
revenues and earnings. At present, the Company's expectation is
that it will file its annual report during the week of January 30,
2006. As previously disclosed, on January 17, 2006, the Company
received a letter from the Nasdaq National Market notifying the
Company that because it had failed to file with Nasdaq its annual
report on Form 10-K for its 2005 fiscal year, its securities are
subject to delisting from the Nasdaq Stock Market. On January 24,
2006, the Company requested from Nasdaq, and was granted, a hearing
on this matter, which has the effect of staying the delisting
action at least until the hearing. The hearing is scheduled for
February 16, 2006. About CSP Inc. Based in Billerica, Massachusetts
and founded in 1968, CSP Inc. (NASDAQ:CSPIE) and its subsidiaries
develop and market best-of-breed IT solutions, image processing
software, systems integration services, and high- performance
computer systems. Its Systems segment includes the MultiComputer
Division, which supplies high-performance Linux cluster systems for
a broad array of defense applications, including radar, sonar and
surveillance signal processing. The Company's MODCOMP, Inc.
subsidiary, also part of its Service and System Integration
segment, was founded in 1970 and which includes the fiscal 2003
acquisition of Technisource, is a leading provider of IT solutions
and systems integration services. MODCOMP works with third parties
to develop customized solutions in the global IT markets and has
offices in the U.S., U.K., and Germany. More information about CSP
is available on the Company's website at http://www.cspi.com/. To
learn more about MODCOMP, Inc., please consult
http://www.modcomp.com/. Contact: Gary Levine Chief Financial
Officer CSP Inc. Tel: 978.663.7598 ext. 1200 Fax: 978.663.0150
First Call Analyst: FCMN Contact: DATASOURCE: CSP Inc. CONTACT:
Gary Levine, Chief Financial Officer of CSP Inc., +1-978-663-7598,
ext. 1200 Web site: http://www.cspi.com/ http://www.modcomp.com/
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